Transferring Limited Partner definition

Transferring Limited Partner has the meaning specified in Section 3.11(2)(a).
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Transferring Limited Partner shall have the meaning ascribed to such term in Section 9.6.
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Transferring Limited Partner. As defined in Section 10.1(c).
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Examples of Transferring Limited Partner in a sentence

  • The Transferring Limited Partner shall cease to be a Limited Partner upon the occurrence of both the transfer of all of its, his or her Interests to an Assignee and the admission to the Partnership of such Assignee as a substitute Limited Partner.

  • The Transferring Limited Partner (or the Limited Partner’s estate in the event of the Limited Partner’s death) shall give written notice of the proposed Transfer to the Managing General Partner and the Special Limited Partner, which notice shall state (i) the identity and address of the proposed transferee and (ii) the amount and type of consideration proposed to be received for the Transferred Partnership Units.

  • Any transferee, whether or not admitted as a Substituted Limited Partner, shall take subject to the obligations of the Transferring Limited Partner hereunder.

  • If it does not so elect, the Transferring Limited Partner may Transfer such Partnership Units to a third party, on terms no more favorable to the transferee than the proposed terms, subject to the other conditions of this Section 11.3.

  • The Special Limited Partner shall have ten (10) Business Days upon which to give the Transferring Limited Partner notice of its election to acquire the Partnership Units on the terms set forth in such notice.

  • Upon the Transfer of an LP Unit being recorded on the Register and the Transferee becoming a Limited Partner, the Transferring Limited Partner of the LP Unit will be relieved of any further liability in respect of the LP Units Transferred that arises out of any matter occurring after the date of the amendment to the Record reflecting such Transfer.

  • The Transferring Limited Partner shall first give written Notice to all of the Partners setting forth the proposed Transferee's name, the terms on which the Economic Interest is to be transferred, and the purchase price and terms of sale for the Interest.

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  • Upon the admission of a Substituted Limited Partner, (i) the Partnership shall amend Schedule I to reflect the name and address of, and number (and class) of Units held by, such Substituted Limited Partner and to eliminate or adjust, if necessary, the name, address and interest of the predecessor of such Substituted Limited Partner and (ii) to the extent of the Transfer to such Substituted Limited Partner, the Transferring Limited Partner shall be relieved of its obligations under this Agreement.

  • If the Transferring Limited Partner does not give the Partnership written notice of the Partnership Interests to be transferred, then the Partnership may exercise the right and option described in Section 9.2(b) at any time.


More Definitions of Transferring Limited Partner

Transferring Limited Partner is defined in Section 11.7.”
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Related to Transferring Limited Partner

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • Transferring Member has the meaning set forth in Section 11.3(a).

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Transferring Shareholder has the meaning set out in Section 6.1;

  • Transferring Stockholder has the meaning set forth in Section 4.04(a).

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Limited Partner means any Person named as a Limited Partner on Exhibit A attached hereto, and any Person who becomes a Substitute Limited Partner, in such Person’s capacity as a Limited Partner in the Partnership.

  • Substitute Limited Partner means any Person admitted to the Partnership as a Limited Partner pursuant to Section 9.3 hereof.

  • Substituted Limited Partner means a Person who is admitted as a Limited Partner to the Partnership pursuant to Section 11.4.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • Defaulting Limited Partner means a Limited Partner that has failed to pay any amount owed to the Partnership under a Partnership Loan within 15 days after demand for payment thereof is made by the Partnership.

  • Transferring Party has the meaning given such term in Section 5.2(b).

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Initial Limited Partner has the meaning set forth in the Preamble.

  • Permitted Transferee Any Transferee of a Residual Certificate other than a Disqualified Organization or Non-United States Person.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Managing Partner means Geodyne Production Company, a Delaware corporation, and any other Person admitted as additional or Substituted Managing Partner pursuant to Article Six of this Agreement.

  • Founder Member means a subscriber to these rules for the purposes of registration;

  • Class B Stockholder means (i) the registered holder of a share of Class B Common Stock at the Effective Time and (ii) the initial registered holder of any shares of Class B Common Stock that are originally issued by the Corporation after the Effective Time.

  • Class B Member means a Member holding one or more Class B Ordinary Shares.

  • Single member limited liability company means a limited liability company that has one direct member.

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • Transferee Company means any company or body corporate established in the Islands or in any other jurisdiction.

  • Foreign limited liability limited partnership means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 488.404, subsection 3.

  • Founding Member means any individual who is either:

  • Special Limited Partner means WNC Housing, L.P., a California limited partnership, and such other Persons as are admitted to the Partnership as additional or substitute Special Limited Partners pursuant to this Agreement.