Terminated Partner definition

Terminated Partner means (i) any Partner that becomes Bankrupt, (ii) any Partner which has been dissolved (and which has not been reconstituted within sixty (60) days thereafter) or (iii) any Partner which has committed a Major Default.
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Terminated Partner means (i) any Partner that has failed to make a Capital Contribution when required and who has become a Defaulting Partner by reason thereof under Section 2.2.2, (ii) any Partner that becomes Bankrupt, (iii) any Partner which has been dissolved (and has not been reconstituted within sixty (60) days thereafter) or, if an individual, who has died, (iv) any Partner which has committed a Major Default or (v) any Partner who has breached the restrictions on Transfer of its interest in the Partnership contained in Article 7. If any Partner in a Partner Group is a Terminated Partner, all Partners in such Partner Group shall also be deemed to be Terminated Partners, and shall be subject to all of the remedies applicable against a Terminated Partner under this Agreement, including the loss of its Approval rights and the obligation to sell its interest in the Partnership as provided in Section 7.9.
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Terminated Partner. As defined in Section 10.4(a).
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Examples of Terminated Partner in a sentence

  • At Partnership expense, the General Partner, if it is not then a Terminated Partner, shall have the authority to hire and discharge such Partnership employees as the General Partner shall reasonably Approve.

  • The cost of such appraisal shall be borne 50% by the Partnership and 50% by the Terminated Partner.

  • The Electing Partner shall notify the Terminated Partner in writing of its election (exercisable at any time after a Partner becomes a Terminated Partner) under clause (ii), above, and (iii) the other provisions applicable by reason of becoming a Defaulting Partner (including Sections 7.9.5 and 8.1.1) shall apply.

  • The Buy-Out Price shall equal the amount the Terminated Partner would receive under Section 4.2.3, if all of the assets of the Partnership were sold to a third party for the Appraised Value and the Partnership were liquidated, after withholding therefrom any damages determined to be payable by the Terminated Partner under Section 5.5.3 by reason of the Terminated Partner's Major Default for all periods.

  • If a Purchase Notice has been given under clause (ii) above, the Electing Partner and the Terminated Partner shall attempt to agree upon the Buy-Out Price of the Terminated Partner's interest in the Partnership.

  • As used in this Section 9.16, the term “Partners” shall mean the Terminated Partner and the other Partners electing to purchase the Interest of the Terminated Partner.

  • If such agreement is not reached within thirty (30) days after the notice of election is given, the Terminated Partner, on the one hand, and the Electing Partner, on the other hand, shall each, within ten (10) additional days, [37] 42 appoint an M.A.I. accredited appraiser by notice to the others.

  • Xxxxxxxxx) from and after the date on which any Highridge Partner has become a Terminated Partner or has committed a Removal Default.

  • If the Managing General Partner becomes a Terminated Partner or commits a Removal Default, the Xxxx-Xxxx Limited Partner may appoint a Co-General Partner, and such Co-General Partner may elect to become the Managing General Partner and to assume the Managing General Partner's authority and responsibilities under this Agreement as provided in Section 7.9.5 (subject to Section 5.9).

  • Failure of the other Partners to deliver such notice electing to purchase the entire Interest of the Terminated Party within such period shall constitute an election not to purchase the Interest of the Terminated Partner pursuant to this Section 9.6.2. Upon election by the Remaining Partner to purchase the Interest of the Terminated Partner, the purchase and sale of the Terminated Partner’s Interest shall be consummated pursuant to the provisions of Sections 9.9 through 9.14.


More Definitions of Terminated Partner

Terminated Partner means a Limited Partner whose Services have been terminated for any reason (including resignation, death, Disability or retirement, whether or not by the General Partner and whether voluntary or involuntary).
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Terminated Partner means a General Partner who has been removed or who has withdrawn or resigned from the Partnership.
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Related to Terminated Partner

  • Terminated Party As defined in Section 7.01(c) of this Agreement.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Lead Partner means the lead partner of a joint venture, as described in Sub-Clause

  • Former Partner means (i) with respect to a Partner that is a trust, a Partner that has ceased to be a Qualified Trust, and has become a Former Partner, pursuant to the terms of Section 1.78; (ii) with respect to a Partner that is an Entity, a Partner that has ceased to be a Qualified Entity, and has become a Former Partner, pursuant to the terms of Section 1.18; (iii) a Partner that has become a Bankrupt Partner and a Former Partner, pursuant to the terms of Section 1.7; (iv) a Partner that has become a Pledgor Partner and a Former Partner, pursuant to the terms of Section 1.74; and (v) a Partner that ceases to be a Participating Stockholder with respect to the Class B Shares of each Company in which the Partnership owns Class B Shares.

  • Defaulting Partner shall have the meaning set forth in Section 9.1.

  • Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a “controlled partnership”.

  • Affiliated Party means, with respect to any Purchaser, any person or entity which, directly or indirectly, controls, is controlled by or is under common control with such Purchaser, including, without limitation, any general partner, officer or director of such Purchaser and any venture capital fund now or hereafter existing which is controlled by one or more general partners of, or shares the same management company as, such Purchaser.

  • Co-licensed partner means a person who, with at least one other person, has the right to engage in

  • Designated Party means any person listed:

  • Hospital affiliate means a corporation, partnership,

  • Departing 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 11.2.

  • Spouse or partner means a person (including same sex partners) who lives with the principal policy holder in a marital or de facto relationship.

  • mixed-activity holding company means a parent undertaking, other than a financial holding company or an institution or a mixed financial holding company, the subsidiaries of which include at least one institution;

  • Designated Employer Representative (DER) means a designated school district representative authorized to take immediate action to remove employees from safety-sensitive duties, to make required decisions in the testing and evaluation process, and to receive test results and other communications for the school district.

  • Plan Affiliate means any other Person with whom the First Person constitutes or has constituted all or part of a controlled group, or which would be treated or have been treated with the First Person as under common control or whose employees would be or have been treated as employed by the First Person, under Section 414 of the Code or Section 4001(b) of ERISA and any regulations, administrative rulings and case law interpreting the foregoing.

  • Defaulting Limited Partner has the meaning provided in Section 5.2(c) hereof.

  • Non-Affiliate means, for any specified Person, any other Person that is not an Affiliate of the specified Person.

  • Business Partner means a legal entity that requires use of a training service in connection with Customer’s and its Affiliates’ internal business operations. These may include customers, distributors, service providers and/or suppliers of Customer.

  • Advisory Person means (i) any employee of the Fund, Manager or Adviser/Subadviser (or of any company in a control relationship to the Fund, Manager or Adviser/Subadviser) who, in connection with his or her regular functions or duties, makes, participates in, or obtains current or pending information regarding the purchase or sale of a security by the Fund, or whose functions relate to the making of any recommendations with respect to such purchases or sales; and (ii) any natural person in a control relationship to the Fund who obtains information concerning recommendations made to the Fund with regard to the purchase or sale of a security.

  • Terminated Transactions means with respect to any Early Termination Date (a) if resulting from a Termination Event, all Affected Transactions and (b) if resulting from an Event of Default, all Transactions (in either case) in effect immediately before the effectiveness of the notice designating that Early Termination Date (or, if "Automatic Early Termination" applies, immediately before that Early Termination Date).

  • Active member means a member of the pension program or the individual account program

  • Inactive member means a member of the pension program or the individual account pro-

  • Drug-dependent person means a person who is using a

  • Dependent person means a person who cannot demonstrate financial independence from parents or persons other than a spouse and who does not meet the criteria for independence established in Section 5 of this administrative regulation.

  • Terminated Transaction means the Transaction terminated in accordance with Section 5.2 of this Agreement.

  • Affiliated business entity relationship means a relationship, other than a parent- subsidiary relationship, that exists when