Common use of Amendment of Partnership Agreement Clause in Contracts

Amendment of Partnership Agreement. This Agreement may be amended, in whole or in part, by the written consent of (a) the General Partner, and (b) Partners the value of whose Capital Account constitute not less than fifty percent (50%) of the total value of all Capital Accounts of the Partnership, provided that no such amendment shall affect the allocation of Net Profit or Net Loss to any Partner who has not consented to such amendment. In addition, any provision of this Agreement, other than Section 9, may be amended by the General Partner in any manner that does not, in the sole discretion of the General Partner, adversely affect any Limited Partner.

Appears in 24 contracts

Samples: Seidman Lawrence B, Seidman Lawrence B, Seidman Lawrence B

AutoNDA by SimpleDocs

Amendment of Partnership Agreement. This Agreement may be amended, in whole or in part, by the written consent of (a) the General PartnerPartners, and (b) Partners the value of whose Capital Account constitute not less than fifty percent (50%) of the total value of all Capital Accounts of the Partnership, provided that no such amendment shall affect the allocation of Net Profit or Net Loss to any Partner who has not consented to such amendment. In addition, any provision of this Agreement, other than Section 9, may be amended by the General Partner Partners in any manner that does not, in the sole discretion of the General PartnerPartners, adversely affect any Limited Partner.

Appears in 3 contracts

Samples: Agreement (Seidman Lawrence B), Seidman Lawrence B, Seidman Lawrence B

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!