Continuation and Organization Sample Clauses
The "Continuation and Organization" clause defines how an entity or agreement will persist and maintain its structure in the event of certain changes or disruptions. Typically, this clause outlines procedures for the ongoing operation of a company or contract, such as what happens if a member leaves, passes away, or if the organization undergoes restructuring. Its core practical function is to ensure stability and continuity, preventing dissolution or confusion by clearly specifying how the entity or agreement should continue to function under changing circumstances.
Continuation and Organization. 9 Section 2.1 Continuation........................................................................................................9 Section 2.2 Name...................................................................................................................9 Section 2.3 Office..................................................................................................................9 Section 2.4 Term of Partnership............................................................................................9 Section 2.5 Purpose of the Partnership................................................................................10 Section 2.6 Actions by Partnership......................................................................................10 Section 2.7 Admission of Limited Partners.........................................................................10 Section 2.8 Schedule of Partners.........................................................................................10 ARTICLE 3 CAPITAL..................................................................................................................11 Section 3.1 Contributions to Capital....................................................................................11 Section 3.2 Rights of Partners in Capital.............................................................................12 Section 3.3 Capital Accounts...............................................................................................12 Section 3.4 Allocation of Profit and Loss............................................................................13 Section 3.5 Tax Allocations.................................................................................................14 Section 3.6 Reserves; Adjustments for Certain Future Events ...........................................14 Section 3.7 Finality and Binding Effect of General Partner’s Determinations....................15 Section 3.8 AEOI.................................................................................................................15 Section 3.9 Alternative GP Vehicles....................................................................................16 ARTICLE 4 DISTRIBUTIONS.....................................................................................................17 Section 4.1 Distributions......................................................................................................17 Section 4.2 Withholding o...
Continuation and Organization