EARLY TERMINATION OF THE PARTNERSHIP Sample Clauses

EARLY TERMINATION OF THE PARTNERSHIP. In the event the Partnership terminates prior to the Closing on the Property, or prior to the commencement of the development of the Property into condominium units, or in the event that the Partnership sells the Property at a bulk sale, then prior to any other distributions, the General Partner shall proceed as quickly as possible in winding up the affairs of the Partnership and shall liquidate the assets and distribute the proceeds of the Partnership as follows: a. First to repay any loans made to the Partnership by the Limited Partner, with interest as provided in such loan documents; b. Next, to the Limited Partner in accordance with its then positive capital account until the Limited Partner has received distributions which in the aggregate total One Million One Hundred Thousand Dollars ($1,100,000.00) plus any additional capital contributions made by the Limited Partner; and c. Thereafter, to the Limited Partner in an amount equal to the greater of 15% of the actual capital contributions made by the Limited Partner prior to such sale, or termination or 50% of the remaining proceeds. d. The remaining proceeds shall be distributed to the General Partner. e. All sums due under this section shall be paid within 10 days of the sale or termination.
Sample 1
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EARLY TERMINATION OF THE PARTNERSHIP. (a) The Partnership shall dissolve, and the affairs of the Partnership shall be wound up (1) at the end of the Partnership’s term as set forth in paragraph 2.1 (as may be extended pursuant to paragraph 10.1) or (2) prior to the end of the Partnership’s term as set forth in paragraph 2.1 (as may be extended pursuant to paragraph 10.1) either: (i) Upon the resignation, withdrawal or final liquidation of the sole remaining general partner of the Partnership or other event of withdrawal of the General Partner under Section 17-402 of the Act (as such definition is modified by paragraph 2.4 of this Agreement), unless (i) at such time there is at least one remaining general partner that is authorized to, and that does, carry on the business of the Partnership, or (ii) a Majority in Interest of the Limited Partners elect, within ninety (90) days of such event, to continue the Partnership and appoint a new general partner effective as of the date of such event; (ii) upon the election of the General Partner in the event that all Partnership assets have been distributed to the Partners in accordance with this Agreement; (iii) at any time there are no limited partners of the Partnership, unless the Partnership is continued in accordance with the Act; or (iv) upon an entry of decree of judicial dissolution of the Partnership pursuant to Section 17-802 of the Act. (b) If the Partnership is dissolved pursuant to the provisions of this paragraph 10.2, a Majority in Interest of the Partners shall elect one or more liquidators to manage the liquidation of the Partnership in the manner described in this Article 10.
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EARLY TERMINATION OF THE PARTNERSHIP. The Partnership shall dissolve, and the affairs of the Partnership shall be wound up prior to the expiration of its term set forth in paragraph 3.1 upon the occurrence of any of the following events: (i) One hundred eighty (180) days after the withdrawal, bankruptcy, or dissolution of the General Partner of the Partnership, unless within ninety (90) days of such event, a Majority in Interest of the Class A Limited Partners elect to continue the business of the Partnership and to the appointment, effective as of the date of such withdrawal, bankruptcy or dissolution, of a new general partner. In the event that a new general partner is elected pursuant to the foregoing sentence, the interest of the General Partner shall be determined in accordance with paragraph 11.1(c) below;
Sample 1
EARLY TERMINATION OF THE PARTNERSHIP. The Partnership shall dissolve, and the affairs of the Partnership shall be wound up prior to the expiration of its term set forth in paragraph 3.1 upon the occurrence of any of the following events:
Sample 1
EARLY TERMINATION OF THE PARTNERSHIP. (a) The Partnership shall dissolve, and the affairs of the Partnership shall be wound up prior to the Termination Date (or such subsequent dates to which the Partnership term has previously been extended pursuant to Section 10.1): (i) ninety (90) days after the withdrawal, bankruptcy, or dissolution of the General Partner, unless the Limited Partner Representative elects to continue the Partnership within such ninety (90) day period; or (ii) at any time after the Commencement Date upon the election of 100 Percent (100%) in Interest of the Limited Partners with one hundred and twenty (120) days’ notice. (b) In the event that the Partnership is dissolved pursuant to the provisions of this Section 10.2, the Limited Partner Representative shall elect one or more liquidators to manage the liquidation of the Partnership in the manner described in Sections 10.3, 10.4 and 10.5.
Sample 1
EARLY TERMINATION OF THE PARTNERSHIP. In the event the Partnership, prior to the Closing on the Property, or prior to the development of the Property into condominium units, sells the Property, the Limited Partner shall receive the following: a. The repayment of any loans it has made to the Partnership, with interest as provided in such loan documents; and b. The repayment of all contributions to capital actually made previous to such sale; and c. An additional distribution equal to the greater of 15% of the capital contribution made prior to such sale, or 50% of the profit resulting from the sale. d. All sums due under this section shall be paid at the time of the sale.
Sample 1
EARLY TERMINATION OF THE PARTNERSHIP. (a) Subject to the Act, the Partnership shall dissolve, and the affairs of the Partnership shall be wound up prior to the Termination Date (or such subsequent date to which the Partnership term has previously been extended pursuant to paragraph 10.1): (i) ninety (90) days after the withdrawal, bankruptcy, or dissolution of the General Partner, unless a Majority in Interest of the Limited Partners elect to continue the Partnership within such ninety (90) day period; or (ii) at any time upon the election of Eighty-Five Percent (85.0%) in Interest of the Limited Partners with or without cause (i.e., “no fault termination”). (b) In the event that the Partnership is dissolved pursuant to paragraph 10.2(a), a Majority in Interest of the Limited Partners shall elect one or more liquidators to manage the liquidation of the Partnership in the manner described in paragraphs 10.3 and 10.4.
Sample 1
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EARLY TERMINATION OF THE PARTNERSHIP. (a) The Partnership shall dissolve, and the affairs of the Partnership shall be wound up prior to the expiration of its term set forth in paragraph 3.1 upon the occurrence of any of the following events: (i) One hundred eighty (180) days after the withdrawal, bankruptcy, or dissolution of the General Partner of the Partnership, unless within ninety (90) days of such event, a Majority in Interest of the Class A Limited Partners elect to continue the business of the Partnership and to the appointment, effective as of the date of such withdrawal, bankruptcy or dissolution, of a new general partner. In the event that a new general partner is elected pursuant to the foregoing sentence, the interest of the General Partner shall be determined in accordance with paragraph 11.1(c) below; (ii) Sale or other transfer of substantially all of the assets of the Partnership; or (iii) Mutual consent of the General Partner and a Majority in Interest of the Class A Limited Partners. (b) In the event that the Partnership is dissolved pursuant to the provisions of this paragraph, the General Partner (or, if the dissolution occurs because of an event described in paragraph 11.1(a)(i), a Majority in Interest of the Class A Limited Partners) shall elect one or more liquidators to manage the liquidation of the Partnership in the manner described in this Article 11. (c) If the Limited Partners elect to continue the Partnership pursuant to its right under paragraph 11.1(a), the former General Partner=s interest in the Partnership shall become a limited partner interest and such former General Partner shall have no powers of a General Partner under this Agreement or the Act. The former General Partner=s interest in Short Term Income shall remain unchanged. The former General Partner=s interest in Profit and Loss shall limited to those allocations arising from assets acquired by the Partnership (i) prior to the date on which the former General Partner ceased to serve as General Partner (the ACessation Date@) or (ii) by use of the uninvested portion of the General Partner=s capital contributions made prior to the Cessation Date. The former General Partner shall have no obligation to make additional capital contributions pursuant to Article 4 after the Cessation Date. To the extent reasonably practicable, distributions of amounts allocable to the former General Partner shall be made in a manner consistent with the foregoing.
Sample 1

Related to EARLY TERMINATION OF THE PARTNERSHIP

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • Early Termination of Services Termination at any time upon 90 days’ prior written notice. Following the written notice period and coinciding with the early termination by the Recipient of any Service(s) in this Schedule, Early Termination Fees equal to 75% of the monthly cost of such terminated Services shall be charged to Recipient monthly until the earlier of (i) three (3) months after termination or (ii) the expiration of the Term of this Schedule. Recipient: Mead Johnson Nutrition (Spain) S.L. Provider: Bristol-Myers Squibb S.A. Point of Contact, Recipient: Leanne Metz Point of Contact, Provider: Loic Senechal Payment Terms: All payments due within thirty (30) days of receipt of invoice by Recipient.

  • Early Termination of Agreement This agreement may be terminated at any time upon a thirty (30) day written notice from either party, and without fault or claim for damages by either party.

  • Early Termination In the absence of any material breach of this Agreement, should the Trust elect to terminate this Agreement prior to the end of the term, the Trust agrees to pay the following fees: a. all monthly fees through the life of the contract, including the rebate of any negotiated discounts; b. all fees associated with converting services to successor service provider; c. all fees associated with any record retention and/or tax reporting obligations that may not be eliminated due to the conversion to a successor service provider; d. all out-of-pocket costs associated with a-c above.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be effected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity and up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of the ESC Region 8 and TIPS. Does vendor agree? Yes

  • Orderly Termination Upon termination or other expiration of this Contract, each Party shall promptly return to the other Party all papers, materials, and other properties of the other held by each for purposes of execution of the Contract. In addition, each Party will assist the other Party in orderly termination of this Contract and the transfer of all assets, tangible and intangible, as may be necessary for the orderly, non-disruptive business continuation of each Party.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be eff ected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity an d up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of t he ESC Region 8 and TIPS. Does vendor agree? Yes

  • Company Termination The Company may at any time in its sole discretion terminate (a “Company Termination”) this Agreement and its right to initiate future Tranches by providing 30 days advanced written notice (“Termination Notice”) to Investor.

  • Early Termination of Option The Option, to the extent not previously exercised, and all other rights in respect thereof, whether vested and exercisable or not, shall terminate and become null and void prior to the Expiration Date in the event of: • the termination of the Participant’s employment or services as provided in Section 5.6 of the Plan, or • the termination of the Option pursuant to Section 7.3 of the Plan.

  • Termination on Death or Disability If the employment of the Executive is terminated due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Company shall pay or provide to the Executive (or, if applicable, the Executive’s estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) the following compensation and benefits: (i) The Accrued Obligations, at the times provided and subject to the conditions set forth in Section 8(a)(i) above; (ii) An amount equal to the Cash Bonus at the Target Percentage for which the Executive is eligible for the year in which the Executive’s death or Disability occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the Executive’s death or termination of employment due to Disability (less any payments in respect of such Cash Bonus related to that performance year received by the Executive during such year), such amount to be paid within thirty (30) days after the Executive’s death or such termination of employment due to Disability; (iii) Any and all outstanding Unvested Shares shall immediately vest and any restrictions thereon shall immediately lapse upon the Executive’s death or termination of employment due to Disability (the acceleration of any other equity incentives granted to the Executive under any equity incentive plan of the Guarantor in connection with the termination of the Executive’s employment due to death or Disability shall be governed by the applicable plan and related grant documents); and (iv) If the Executive is eligible for and elects to receive continued coverage under the Company’s medical and health benefits plan(s) in accordance with the provisions of COBRA for the Executive and, if applicable, the Executive’s eligible dependents, or if the Executive’s eligible dependents are eligible for such continued coverage due to the Executive’s death, then the Company shall reimburse the Executive or such dependents for a period of eighteen (18) months following the Executive’s termination of employment due to death or Disability (or, if less, for the period that the Executive or any such dependent is eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive or any such dependent is required to pay monthly to maintain such continued coverage under COBRA, over (B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company.

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