Common use of Constructive Consent by Limited Partners Clause in Contracts

Constructive Consent by Limited Partners. In the event the General Partner requires the consent of the Limited Partners in order to take action (including approving amendments to this Agreement), and written notice of such action is mailed to such Limited Partners (certified mail, return receipt requested), those Limited Partners not affirmatively objecting in writing within thirty (30) days after such notice is mailed shall be deemed to have consented to the proposed action set forth in the General Partner’s notice.

Appears in 2 contracts

Samples: Limited Partnership Agreement (NGFC Equities, Inc.), Limited Partnership Agreement (NGFC Equities, Inc.)

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Constructive Consent by Limited Partners. In the event the General Partner requires the consent of the Limited Partners in order to take action (including approving amendments to this Operating Agreement), and written notice of such action is mailed to such Limited Partners (certified mail, return receipt requested), those Limited Partners not affirmatively objecting in writing within thirty (30) 30 days after such notice is mailed shall be deemed to have consented to the proposed action set forth in the General Partner’s notice.

Appears in 1 contract

Samples: Limited Partnership Agreement

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Constructive Consent by Limited Partners. In the event If the General Partner requires the consent of the Limited Partners in order to take action (including approving amendments to this Agreement), and written notice of such action is mailed to such Limited Partners (certified mail, return receipt requested), those Limited Partners not affirmatively objecting in writing within thirty (30) days after such notice is mailed shall be deemed to have consented to the proposed action set forth in the General Partner’s notice.

Appears in 1 contract

Samples: Partnership Agreement

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