Death or Incapacity of a Partner. In the event of the death or incapacity of a partner (or the death or incapacity of the grantor and sole trustee of a revocable living trust, if such trust is partner pursuant to Paragraph 16A hereof), receipt of notice shall be treated as a notice of full withdrawal.
Death or Incapacity of a Partner. In the event of the death or incapacity of a Partner, receipt of notice shall be treated as a notice of full withdrawal.
Death or Incapacity of a Partner. In the event of the death or incapacity of a partner, receipt of such notice shall be treated as a notice of withdrawal. Liquidation and payment shall proceed in accordance with paragraphs 21 and 23.
Death or Incapacity of a Partner. In the event of the death or incapacity of a partner, receipt of notice of such an event shall be treated in the same manner as a notice of voluntary withdrawal. The value of the partner's capital account shall be determined and satisfied as described in Section 19, and payment shall be made in the name of the partner and mailed to the estate.
Death or Incapacity of a Partner. 7.3.1 The Partnership shall not terminate upon the death, insanity, legal incompetency, incapacity, Bankruptcy or liquidation of a Partner. A deceased Partner may designate by such deceased Partner’s last will and testament any one or more persons to succeed such deceased Partner as a member of the Partnership, and in the absence of such designation the estate of the deceased Partner shall be the successor Partner In every case, whether the Partner was a Limited Partner or a General Partner, the interest shall become a Limited Partnership interest and the successor shall become a Limited Partner, not a General Partner.
Death or Incapacity of a Partner. In the event of the death or incapacity of a Partner, receipt of such notice shall be treated as a notice of withdrawal. If notice is received between meetings, it shall be treated as officially received at the next regularly scheduled meeting. In making the payment, the valuation statement prepared for that meeting shall be used to determine the value of the Partner’s account. Payment of the Partner’s account shall proceed in accordance with Paragraph 23. If a Partner is terminated for nonparticipation, and notification of death is received later, the purchase price shall be established by the first action. In case of death all withdrawn funds shall be paid in the name of the estate to the Executor of the estate.
Death or Incapacity of a Partner. In the event of the death or incapacity of a partner, receipt of notice shall be treated as receipt of request for full withdrawal of all accounts associated with the partner. The partnership shall pay the estate of the partner, or designated beneficiary, in accordance with section 201 of this agreement [within paragraph 21] The distribution shall occur within three (3) business days as soon as practicable after this meeting. [under Penalties, within paragraph 21] withdrawal, plus the cost of postage for a first-class letter so their final year-end statement can be mailed to them [22b] (b) Assign, transfer, pledge, mortgage or sell all or part of his interest in the partnership to any other person or persons not a partnerwhomsoever, or enter into any agreement as the result of which any person or persons not a partner shall become interested with him in the partnership, without the unanimous consent of all the other partners. [within paragraph 23] 101A
Death or Incapacity of a Partner. In the event of the death or incapacity of a partner, receipt of notice shall be treated as receipt of request for full withdrawal of all accounts associated with the partner. The partnership shall pay the estate of the partner, or designated beneficiary, in accordance with section 201 of this agreement.
