Admission of New Partner. Except as otherwise specifically provided for herein, no new Partner may be admitted to the Partnership without the consent of all of the Partners. For purposes of this Section 12.5, a substitute Limited Partner shall not be considered a "new Partner."
Admission of New Partner. No Person may be introduced as a new partner without the consent of all the existing partners. Such incoming partner shall give his prior consent to act as Partner of the X LLP. The Contribution of the partner may be tangible, intangible, Moveable or immoveable property and the incoming partner shall bring minimum contribution of Rs. ………….. The Profit sharing ratio of the incoming partner will be in proportion to his contribution towards X LLP.
Admission of New Partner. No person may be introduced as a new partner without the consent of all the existing partners, subject to the provisions of the LLP Act, 2008 and rules framed thereto. Such incoming partner shall give his prior consent to act as Partner of the LLP
Admission of New Partner. As of the Effective Date, Contributor has contributed the Contributed Assets indirectly to the Partnership in exchange for, among other consideration, the issuance by the Partnership to Contributor of 240,000 Series J Preferred Units. All Series J Preferred Units issued to Contributor have been duly issued and fully paid. Contributor, by execution of a separate joinder to the Partnership Agreement, has agreed to be bound by all of the terms and conditions of the Partnership Agreement, as amended by this Amendment. Contributor is hereby admitted to the Partnership as a new Limited Partner. Exhibit A of the Partnership Agreement is hereby deleted in its entirety and is replaced with Exhibit A to this Amendment.
Admission of New Partner. 21.1 No new Partner may be introduced as a new partner of the LLP without the consent of both / all the existing partners. Such incoming partner shall give his prior consent to act as Partner of the LLP.
21.2 The Contribution of the new partner may be tangible, intangible, moveable or immoveable property and the incoming partner shall bring minimum contribution of Rs. 50,000/- or as may be decided by the existing partners from time to time.
21.3 The Profit sharing ratio of the incoming partner will be decided by the existing partners by mutual agreement.
21.4 Any person having any business interest which is in conflict with the business of the LLP shall not be admitted as a Partner of the LLP.
21.5 Persons admitted as partners shall duly comply with the provisions of Section 25(1) of LLP Act and Rule 22
(1) framed thereunder. The LLP shall have perpetual succession and the death, retirement, expulsion, cessation or insolvency of any partner shall not dissolve the LLP
Admission of New Partner. Upon any transfer permitted by this §9, the Transferee shall be automatically admitted as a Partner in substitution for, or in the case of a partial transfer, in addition to, the Transferring Partner, upon execution of a counterpart of this Agreement. In the event of such a transfer before the Commitment Date, the Percentage Interests of the Transferee and Transferring Partner shall be modified to reflect the interest transferred and, in the event of such a transfer after the Commitment Date, the Percentage Interests shall be modified in accordance with §3.1.4. Except as provided in this §9.5, no such sale, assignment, pledge or other transfer shall give rise to a right in any transferee to become a Partner in the Partnership.
Admission of New Partner. New Partner shall be admitted to the Partnership as the type of partner shown in the space above New Partner's signature upon satisfaction of any conditions to the admission set forth in the Partnership agreement and shall thereupon have all the rights and obligations of such a partner under the Partnership Agreement.
Admission of New Partner. On or immediately prior to the Redemption Date and subject to Section 11.5 below, C-Stone will make a capital contribution (the "Contribution") to the Company in an amount equal to Redemption Price (as defined in the M.I. Redemption Agreement), plus any required interest thereon pursuant to the M.I. Redemption Agreement, to be paid by the Company to consummate the M.I.
Admission of New Partner. The New Partner is admitted to the Partnership as an Initial/Additional Limited Partner. The General Partner hereby consents to such admission.
Admission of New Partner. As of the Effective Date, the Series E Preferred Partner has contributed the Contributed Assets to the Partnership in exchange for the issuance by the Partnership to the Series E Preferred Partner of an aggregate of 90,000 Series E Preferred Units. The Series E Preferred Units issued to the Series E Preferred Partner have been duly issued and fully paid. The Series E Preferred Partner is hereby admitted to the Partnership as a new Limited Partner, and by execution of this Amendment the Series E Preferred Partner agrees to be bound by all of the terms and conditions of the Agreement, as amended hereby, and hereby acknowledges receipt of a copy of the Agreement. Exhibit A of the Agreement is hereby deleted in its entirety and is replaced with Exhibit A to this Amendment.
