Common use of Individual General Partners Clause in Contracts

Individual General Partners. The number of Individual General Partners shall initially be two and shall be fixed from time to time by the Management Committee as then constituted; provided, however, that the number of Individual General Partners shall in no event be less than two or more than nine (except prior to the initial public offering of Units). A majority of the members of the Management Committee shall at all times be Independent General Partners. If at any time the number of Independent General Partners is less than a majority, within 90 days thereafter, action shall be taken pursuant to Section 3.03 to restore the number of Independent General Partners to a majority.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Technology Funding Partners Iii L P), Limited Partnership Agreement (Technology Funding Venture Partners Iv)

AutoNDA by SimpleDocs

Individual General Partners. The number of Individual General Partners shall initially be two three and shall be fixed from time to time thereafter by the Management Committee as then constituted; provided, however, that the number of Individual General Partners shall in no event be less than two three or more than nine (except prior to the initial public offering of Units). A majority of the General Partners and of the members of the Management Committee shall at all times be Independent General Partners. If at any time the number of Independent General Partners is less than a majority, within 90 days thereafter, action shall be taken pursuant to Section 3.03 to restore the number of Independent General Partners to a majority.

Appears in 1 contract

Samples: Limited Partnership Agreement (Technology Funding Venture Partners Iv)

AutoNDA by SimpleDocs

Individual General Partners. The number of Individual General Partners shall initially be two and shall be fixed from time to time by the Management Committee as then constitutedIndependent General Partners; provided, however, that the number of Individual General Partners shall in no event be less than two or more than nine (except prior to the initial public offering of Units). A majority of the members of the Management Committee voting General Partners shall at all times be Independent General Partners. If at any time the number of Independent General Partners is less than a majoritymajority of voting General Partners, within 90 days thereafter, action shall be taken pursuant to Section 3.03 to restore the number of Independent General Partners to a majority.

Appears in 1 contract

Samples: Limited Partnership Agreement (Technology Funding Venture Partners V)

Time is Money Join Law Insider Premium to draft better contracts faster.