Managing General definition

Managing General. Partner" means the Person so designated pursuant to Section 3.2.
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Managing General agent" has the same meaning prescribed in section 20-311.
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Managing General. Partner shall mean MGC in its capacity as a General Partner, or such other General Partner appointed as the Managing General Partner of the Partnership pursuant to Section 4.3."
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Examples of Managing General in a sentence

  • The Managing General Partner, the Partnership, and the Dealer-Manager appoint the Escrow Agent as the escrow agent to receive and to hold the Subscription Proceeds deposited with the Escrow Agent by the Dealer-Manager and the Managing General Partner under this Agreement, and the Escrow Agent agrees to serve in this capacity during the term and based on the provisions of this Agreement.

  • In no event shall the Escrow Agent be obligated to accept any notice, request, or demand from anyone other than the Managing General Partner.

  • The Escrow Agent shall not be obligated to accept any notice, make any delivery, or take any other action under this Agreement unless the notice or request or demand for delivery or other action is in writing and given or made by the Managing General Partner or an authorized officer of the Managing General Partner.

  • As between the General Partners, the Managing General Partner will have the right to make all decisions, execute all documents and take all action on behalf of the Partnership, except as otherwise expressly provided by this Agreement.

  • The execution, delivery and effectiveness of this Amendment shall not operate (i) as a waiver of any provision, right or obligation of the Managing General Partner, the other General Partner or any Limited Partner under the Limited Partnership Agreement except as specifically set forth herein or (ii) as a waiver or consent to any subsequent action or transaction.

  • The General Partners, if there are more than one General Partner, may appoint one of the General Partners to serve as the Managing General Partner.

  • For U.S. federal income tax purposes, the deduction attributable to any amount treated as a guaranteed payment under this Section 11 shall be specially allocated to the Partners in a manner determined by the Managing General Partner in its sole discretion that is not inconsistent with the applicable provisions of the Code and Treasury Regulations.

  • This Agreement shall inure to the benefit of and be binding on you, the Managing General Partner, and any respective successors and assigns.

  • Sections 2.4 and 12.3 of the Limited Partnership Agreement authorize, among other things, the Managing General Partner, as true and lawful agent and attorney-in fact, to execute, swear to, acknowledge, deliver, file and record this Amendment on behalf of each Partner that has executed the Limited Partnership Agreement and on behalf of the Partnership.

  • The Managing General Partner shall be solely responsible for and shall pay the compensation of the Escrow Agent for its services under this Agreement, as provided in Appendix 1 to this Agreement and made a part of this Agreement, and the charges, expenses (including any reasonable attorneys' fees), and other out-of-pocket expenses incurred by the Escrow Agent in connection with the administration of the provisions of this Agreement.


More Definitions of Managing General

Managing General. Partner means ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ so long as he remains as the Managing General Partner, and any successor or assign thereof permitted under the terms of this Agreement.
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Managing General. Partner's Drilling Compensation" shall mean the amount paid to the Managing General Partner for its services as managing general partner and operator during drilling and completion activities.
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Managing General. Partner's Estimates of Net Asset Value. An affiliate of the Managing General Partner prepared an estimate of the Partnership's net asset value per Unit in connection with an offer to purchase up to 4.9% of the outstanding Units commenced by a party unaffiliated with the Purchaser, IPLP, IPT or Insignia in August 1998. That estimate of the Partnership's net asset value per Unit as of June 30, 1998 was $260. The Managing General Partner also prepares annual estimates of the Partnership's net asset value per Unit. The Managing General Partner's three most recent estimates of the Partnership's net asset value per Unit were $241, $220 and $184 as of December 31, 1997, 1996 and 1995, respectively. The Managing General Partner estimates net asset value based on a hypothetical sale of the Partnership's wholly-owned properties and the Joint Venture's property and the distribution to the Limited Partners, the Managing General Partner and the other general partners of the gross proceeds of such sales, net of related indebtedness, together with the cash, proceeds from temporary investments, and all other assets that are believed to have liquidation value, after provision in full for all of the other known liabilities of the Partnership and the Joint Venture. The net asset value estimates prepared by the Managing General Partner do not take into account (i) timing considerations or (ii) costs associated with winding up the Partnership and the Joint Venture. Therefore, the Purchaser believes that the Managing General Partner's estimates of net asset value per Unit do not necessarily represent either the fair market value of a Unit or the amount a Limited Partner reasonably could expect to receive if the Partnership's wholly-owned properties and the Joint Venture's property were sold and the Partnership (and the Joint Venture) was liquidated. For this reason, the Purchaser considered the Managing General Partner's net asset value estimates to be less meaningful in determining the Purchase Price than the pro forma liquidation analysis described below.
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Related to Managing General

  • Managing General Partner means (i) Plains All American GP LLC, a Delaware limited liability company, and its successors and permitted assigns as the general partner of the sole member of the General Partner or (ii) the business entity with the ultimate authority to manage the business and operations of the Partnership.

  • Managing general agent or "MGA" means any person, firm, association or corporation who manages all or part of the insurance business of an insurer, including the management of a separate division, department or underwriting office, and acts as an agent for such insurer whether known as a managing general agent, manager or other similar term, who, with or without the authority, either separately or together with affiliates, produces, directly or indirectly, and underwrites an amount of gross written premium equal to or more than 5% of the policyholder surplus as reported in the last annual statement of the insurer in any one quarter or year together with one or more of the following:

  • Departing General Partner means a former General Partner from and after the effective date of any withdrawal or removal of such former General Partner pursuant to Section 11.1 or Section 11.2.

  • Director-General means the Director-General of the Department;

  • Delaware General Corporation Law means the Delaware General Corporation Law, 8 Del. C.ss.100, et. seq., as amended from time to time.