Consequences of Removal Notice Sample Clauses

Consequences of Removal Notice. In connection with the delivery of a Removal For Cause Notice or a Removal Without Cause Notice in accordance with Section 10.1 (Removal/Termination Notice) in which the Limited Partners elect to remove the General Partner: On the date stipulated in such notice (which shall be no earlier than the date of such notice) (the “Removal Date”), the General Partner shall be removed as general partner of the Fund. A Majority in Interest shall appoint a replacement general partner, with such replacement being effective upon such Person’s acceptance of such appointment on such terms as may be agreed with a Majority in Interest. On the Removal Date: with respect to the delivery of a Removal For Cause Notice: the right of the Fund Manager to receive installments of the Management Fee shall immediately and automatically terminate without further compensation, and no further payments of the Management Fee shall be made to the Fund Manager; the right of the removed General Partner to receive further distributions of Carried Interest from the Fund (including pursuant to Article 14 (Distributions; Allocations)) shall immediately and automatically terminate, no further distributions of Carried Interest shall be made to the removed General Partner, and any amounts retained in the Escrow Account pursuant to Section 14.7.2 shall immediately be returned to the Fund for distribution to the Limited Partners; and in respect of its Commitment, the removed General Partner shall be treated as a Limited Partner, without any further action being required by any Person, and for the avoidance of doubt, in that regard, shall be considered an “Affiliated Partner” for the purposes of Section 10.2 (Consequences of Removal Notice). with respect to the delivery of a Removal Without Cause Notice: the right of the Fund Manager to receive installments of the Management Fee shall immediately and automatically terminate without further compensation, and no further payments of the Management Fee shall be made to the Fund Manager18; the removed General Partner shall be treated as a Limited Partner with respect to its Commitment and for the avoidance of doubt, in that regard, shall be considered an “Affiliated Partner” for the purposes of Section 10.2 (Consequences of Removal Notice); subject to Section 10.2.3.2(d) below, the removed General Partner shall be entitled to receive further distributions of Carried Interest [immediately and automatically reduced to [___]% of the Carried Interest to which i...
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Consequences of Removal Notice below, the removed General Partner xxxxxxxxx be entitled to receive further distributions of Carried Interest [immediately and automatically reduced to which it is otherwise entitled]114 with respect to Portfolio Investments made prior to the date of such removal at the same time as such amounts would have been distributed to it pursuant to this Agreement if it had not been removed, and the removed General Partner shallwill not be entitled to receive any Carried Interest with respect to any Portfolio Investment made on or after the date of such removal, and the provisions of Section 14.7(a) (Clawback.) shallwill continue to apply to any and all such distributions and Article 14 (Distributions; Allocations) shallwill be deemed amended accordingly, provided that the amounts of such distributions of Carried Interest shall be calculated without regard to Portfolio Investments made, Fund Expenses allocable solely to Portfolio Investments made, or Management Fee accrued, in each case after the Removal Date; and
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Consequences of Removal Notice. In connection with the delivery of a Removal For Cause Notice or a Removal Without Cause Notice:‌
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Consequences of Removal Notice above, at any time on or after the date of a Removal for Cause Notice or a Removal Without Cause Notice, by delivery of written notice to an Affiliated Partner, a Majority in Interest may require suchthe Affiliated Partner to transfer a portion or all of its Interest to such Person as a Majority in Interest may approve in consideration for the issue to such Affiliated Partner by the Fund of a non-interest bearing promissory note or equivalent instrument, pursuant to which suchthe Affiliated Partner is entitled to receive payments in such amounts and at such times as it would have received pursuant to Section 10.2.210.2(b) (Consequences of Removal Notice.) if it had continued to be a Limited Partner; and
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Related to Consequences of Removal Notice

  • OIG Removal of IRO In the event OIG has reason to believe the IRO does not possess the qualifications described in Paragraph B, is not independent and objective as set forth in Paragraph E or has failed to carry out its responsibilities as described in Paragraph C, OIG shall notify Indivior in writing regarding OIG’s basis for determining that the IRO has not met the requirements of this Appendix. Indivior shall have 30 days from the date of OIG’s written notice to provide information regarding the IRO’s qualifications, independence or performance of its responsibilities in order to resolve the concerns identified by OIG. If, following OIG’s review of any information provided by Indivior regarding the IRO, OIG determines that the IRO has not met the requirements of this Appendix, OIG shall notify Indivior in writing that Indivior shall be required to engage a new IRO in accordance with Paragraph A of this Appendix. Indivior must engage a new IRO within 60 days of its receipt of OIG’s written notice. The final determination as to whether or not to require Indivior to engage a new IRO shall be made at the sole discretion of OIG. Indivior Corporate Integrity Agreement Appendix A 3 APPENDIX B INDEPENDENT REVIEW ORGANIZATION REVIEWS

  • Consequences of non-compliance If a beneficiary breaches any of its obligations under this Article, the grant may be reduced (see Article 43). Such breaches may also lead to any of the other measures described in Chapter 6.

  • Consequences of Termination on Notice by the Province If the Province terminates the Agreement pursuant to section A11.1, the Province may take one or more of the following actions:

  • Appointment of Successor (a) Upon the Servicer’s receipt of notice of termination pursuant to Section 8.01 or the Servicer’s resignation in accordance with the terms of this Agreement, the predecessor Servicer shall continue to perform its functions as Servicer under this Agreement, in the case of termination, only until the date specified in such termination notice or, if no such date is specified in a notice of termination, until receipt of such notice and, in the case of resignation, until the later of (i) the date sixty (60) days from the delivery to the Owner Trustee and the Indenture Trustee of written notice of such resignation (or written confirmation of such notice) in accordance with the terms of this Agreement and (ii) the date upon which the predecessor Servicer shall become unable to act as Servicer, as specified in the notice of resignation and accompanying Opinion of Counsel. In the event of the Servicer’s termination hereunder, the Indenture Trustee shall appoint a Successor Servicer, which shall be any established institution having a net worth of not less than $25,000,000 and whose regular business shall include the servicing of receivables similar to the Receivables, and the Successor Servicer shall accept its appointment (including its appointment as Administrator under the Administration Agreement as set forth in Section 8.02(b)) by a written assumption in form acceptable to the Owner Trustee and the Indenture Trustee. In the event that a Successor Servicer has not been appointed at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer and the Indenture Trustee shall be entitled to the Total Servicing Fee. Notwithstanding the above, the Indenture Trustee shall, if it shall be unwilling or legally unable so to act, appoint or petition a court of competent jurisdiction to appoint any established institution having a net worth of not less than $25,000,000 and whose regular business shall include the servicing of receivables similar to the Receivables, as the successor to the Servicer under this Agreement. In connection therewith, the Indenture Trustee is authorized and empowered to offer such successor servicer compensation up to, but not in excess of, the Total Servicing Fee and other servicing compensation specified in this Agreement as payable to the initial Servicer. Upon such appointment, the Indenture Trustee will be released from the duties and obligations of acting as Successor Servicer, such release effective upon the effective date of the servicing agreement entered into between the Successor Servicer and the Issuer.

  • Consequences of Default Upon the occurrence of any Event of Default, as defined in the Revenue Sharing Agreement:

  • Notification of Recall Notification of recall from layoff shall be sent by certified mail, return receipt requested, deliverable to addressee only, to the employee's last known address. The notice shall give the employee a minimum of ten (10) calendar days within which to respond after the notice of recall has been mailed. Employees who decline recall or who, in the absence of extenuating circumstances, fail to respond within the time set for return to work, shall be presumed to have resigned and their name shall be removed from the seniority and preferred eligibility list.

  • NEGOTIATION OF SUCCESSOR AGREEMENT For the purposes of negotiating a successor Agreement, APSOU and the University will meet between April 1, 2018, and June 30, 2018, to begin negotiations of a Successor Agreement. APSOU will send written notice to the University within ten (10) university days after the meeting specifying those subjects, sections, or articles it proposes to open for negotiations. Ten (10) university days after the University receives APSOU’s request, the University will send written notice to APSOU specifying those subjects, sections or articles it proposes for negotiations. Those sections of this Agreement not reopened by said notices or by subsequent mutual agreement shall automatically become part of any Successor Agreement. Negotiations of the Successor Agreement shall begin no later than ten (10) university days after APSOU receives the University’s notification, or such date thereafter as may be mutually agreed upon by the parties. The terms of the 2015-18 CBA remain in effect until the completion of bargaining the successor agreement or until the dispute resolution procedures governing negotiations described in ORS 243.712-ORS 243.726 are completed.

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