Admission of Successor or Additional General Partners. 7.1.1 The General Partner may at any time designate one or more Persons to be its successor or to be an additional General Partner, in each case with such participation in the General Partner’s Interest as it and such successors or additional General Partners may agree upon; provided that the Interests of the other Partners shall not be affected thereby.
Appears in 6 contracts
Samples: Limited Partnership Agreement (Aeroways, LLC), Limited Partnership Agreement (Verso Paper Corp.), Limited Partnership Agreement (Verso Paper Holdings LLC)
Admission of Successor or Additional General Partners. 7.1.1 The 6.1.1. With the Consent of all other General Partners, if any, and the Consent of at least a majority-in-interest of the Limited Partners, any General Partner may at any time designate one or more Persons to be its successor or to be an additional General Partner, in each case with such participation Interest in the Partnership as such General Partner’s Interest as it Partner and such successors the successor or additional General Partners may Partner agree upon; , provided that the Interests of the other Partners shall not be affected thereby.
Appears in 3 contracts
Samples: WNC Housing Tax Credit Fund Vi Lp Series 6, WNC Housing Tax Credit Fund Vi Lp Series 7, WNC Housing Tax Credit Fund Vi Lp Series 5
Admission of Successor or Additional General Partners. 7.1.1 The General Partner may at any time designate one or more Persons to be its successor or to be an additional General Partner, in each case with such participation in the General Partner’s Interest as it and such successors or additional General Partners may agree upon; provided that that, except as set forth in Section 9.1, the Interests of the other Partners shall not be affected thereby. Each such designee shall become a successor or additional General Partner upon satisfying the conditions of Section 8.3.1.
Appears in 1 contract
Samples: Limited Partnership Agreement
