Income limited partnership

Income limited partnership

A limited partnership whose main goal is income generation, e.g., real estate, oil equipment.

Income Limited Partnership

A limited partnership that is intended to produce income for the general partner(s) and limited partner(s), each of which would not be able to produce on his/her own. For example, the general partner may have knowledge of the business but no capital, while the limited partner has capital but no knowledge of the business. A common example of an income limited partnership is an oil & gas limited partnership.
References in periodicals archive ?
Further to the announcement of June 17, 2014, Maple Leaf 2012 Energy Income Limited Partnership ( Maple Leaf 2012 LP ) is pleased to announce that it has entered into a definitive agreement with Maple Leaf Royalties Corp.
CCMC is an investment management company and the General Partner of Vista Income Limited Partnership, a high yield investment partnership.
Maple Leaf 2011 Energy Income Limited Partnership ( Maple Leaf 2011 LP ) is pleased to report that it has completed the previously announced disposition of royalty interests in 14 oil and gas wells located in west central Alberta (the Royalties ) to Maple Leaf Royalties Corp.
The General Partners of Maple Leaf 2011 Energy Income Limited Partnership and Maple Leaf 2012 Energy Income Limited Partnership (the Partnerships ) are pleased to announce that the Boards of Directors have resolved to market for disposition the assets of the Partnerships pursuant to the implementation of a Liquidity Event.
Maple Leaf 2013 Oil & Gas Income Limited Partnership is pleased to announce that it has entered into a purchase and sale agreement with Waldron Energy Corporation to purchase petroleum and natural gas gross overriding royalties for a total of $7 million.
Maple Leaf 2013 Oil & Gas Income Limited Partnership (the Partnership") is pleased to announce that it has completed its third and final closing on Wednesday, December 18, 2013.