Designation as Inactive Partner Sample Clauses

Designation as Inactive Partner. From and after the date of a Limited Partner’s death (in the case of a Limited Partner who is a natural person), Disability (as defined in such Limited Partner’s Carry Agreement), bankruptcy or ceasing to be employed by or otherwise perform services for Oaktree for any reason as determined by the General Partner, such Limited Partner shall automatically be deemed an “Inactive Partner” without any further action, unless Oaktree determines otherwise. An Inactive Partner shall be a limited partner of the Partnership, but shall, except to the extent that applicable law otherwise requires, have only those rights expressly set forth in this Agreement. To the fullest extent permitted by law, Inactive Partners shall not be entitled to participate in any vote, consent or approval of the Partners or Limited Partners permitted or required to be given for any purpose (including, for the avoidance of doubt, any consent to or approval of any merger or consolidation to which the Partnership is a party or any conversion of the Partnership to another form of entity or to a foreign limited partnership).
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Designation as Inactive Partner. From and after the date of a Limited Partner’s death (in the case of a Limited Partner who is a natural person), Disability (as defined in such Partner’s Carry Agreement), bankruptcy or ceasing to be employed by or otherwise perform services for Oaktree or its Affiliates for any reason as determined by the General Partner in its sole discretion, such Limited Partner shall automatically be deemed an “Inactive Partner” without any further action, unless the General Partner, in its sole discretion, determines otherwise.
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Related to Designation as Inactive Partner

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Special Parental Allowance for Totally Disabled Employees (a) An employee who: (i) fails to satisfy the eligibility requirement specified in subparagraph 17.05(a)(ii) solely because a concurrent entitlement to benefits under the Disability Insurance (DI) Plan, the Long-term Disability (LTD) Insurance portion of the Public Service Management Insurance Plan (PSMIP) or via the Government Employees Compensation Act prevents the employee from receiving Employment Insurance or Québec Parental Insurance Plan benefits, and (ii) has satisfied all of the other eligibility criteria specified in paragraph 17.05(a), other than those specified in sections (A) and (B) of subparagraph 17.05(a)(iii), shall be paid, in respect of each week of benefits under the parental allowance not received for the reason described in subparagraph (i), the difference between ninety-three per cent (93%) of the employee's rate of pay and the gross amount of his or her weekly disability benefit under the DI Plan, the LTD Plan or via the Government Employees Compensation Act. (b) An employee shall be paid an allowance under this clause and under clause 17.05 for a combined period of no more than the number of weeks during which the employee would have been eligible for parental, paternity or adoption benefits under the Employment Insurance or Québec Parental Insurance Plan, had the employee not been disqualified from Employment Insurance or Québec Parental Insurance Plan benefits for the reasons described in subparagraph (a)(i).

  • Termination for Non-Allocation of Funds Renegotiate the Contract under the revised funding conditions; or

  • Eligibility for Employer Contribution This section describes eligibility for an Employer Contribution toward the cost of coverage.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute?

  • Effect of Bankruptcy, Death, Incompetence or Termination of a Limited Partner The occurrence of an Event of Bankruptcy as to a Limited Partner, the death of a Limited Partner or a final adjudication that a Limited Partner is incompetent (which term shall include, but not be limited to, insanity) shall not cause the termination or dissolution of the Partnership, and the business of the Partnership shall continue if an order for relief in a bankruptcy proceeding is entered against a Limited Partner, the trustee or receiver of his estate or, if he dies, his executor, administrator or trustee, or, if he is finally adjudicated incompetent, his committee, guardian or conservator, shall have the rights of such Limited Partner for the purpose of settling or managing his estate property and such power as the bankrupt, deceased or incompetent Limited Partner possessed to assign all or any part of his Partnership Interest and to join with the assignee in satisfying conditions precedent to the admission of the assignee as a Substitute Limited Partner.

  • Adoption Agreement The document executed by the Employer through which it adopts the Plan and agrees to be bound by all terms and conditions of the Plan.

  • Termination of Partnership The Partnership shall terminate when all assets of the Partnership, after payment of or due provision for all Liabilities of the Partnership, shall have been distributed to the Partners in the manner provided for in this Agreement, and the Certificate shall have been canceled in the manner provided by the Act.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

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