Limitations on Withdrawal of Capital Account. (a) The right of any Partner or its legal representatives to withdraw any amount from a Capital Account and to have distributed to it any such amount (or any portion thereof) pursuant to this Article V is subject to the provision by the Managing General Partner for all Partnership liabilities in accordance with the Law and for reserves for contingencies and estimated accrued expenses and liabilities in accordance with Section 3.08, and for projected Incentive Allocations. In addition, no withdrawal shall be permitted that would result in a Capital Account having a negative balance. The unused portion of any reserve shall be distributed to the Partners to which the reserve applied, with interest at the prevailing savings bank rate for unrestricted deposits from time to time in effect in New York, New York, as determined by the Managing General Partner, after the Managing General Partner shall have determined that the need therefor shall have ceased.
Limitations on Withdrawal of Capital Account. The right of -------------------------------------------- any Withdrawal Partner or such Withdrawal Partner's legal representatives to have distributed the Capital Account of such Partner pursuant to this Article IV is subject to the provision by the General Partner for all Partnership liabilities in accordance with the Act and for reserves for contingencies and estimated accrued expenses all in accordance with Article III hereof.
Limitations on Withdrawal of Capital Account. The right of any withdrawn Partner or its legal representatives to have distributed the Capital Account of such Partner is subject to the provision for all Partnership liabilities in accordance with section 15666 of the Act and for estimates for contingencies and expenses. The unused portion of any such estimates shall be distributed after the need therefor shall have ceased.
Limitations on Withdrawal of Capital Account. (a) The right of any Partner or its legal representatives to withdraw any amount from its Capital Account and to have distributed to it any such amount (or any portion thereof) pursuant to this Article V is subject to the provision by the General Partner for all Partnership liabilities in accordance with the Act and for reserves for existing or anticipated liabilities or contingencies and estimated accrued expenses and liabilities. In addition, no withdrawal shall be permitted that would result in a Capital Account having a negative balance.
Limitations on Withdrawal of Capital Account. A Member may not withdraw any amounts from such Member’s Capital Account unless permitted by the Board of Directors, in its sole and absolute discretion. If a withdrawal is permitted by the Board of Directors, the Board of Directors will charge the withdrawing Member an amount equal to actual costs and expenses incurred by the Company in connection with such withdrawal of capital. In addition to the actual costs and expenses incurred in connection with a withdrawal of capital, the Board of Directors may withhold an amount, determined in its sole and absolute discretion, for liabilities and contingencies of the Company for which such withdrawing Member may be liable under this Agreement (the “Contingency Reserve”). After the Board of Directors has determined, in its sole and absolute discretion, that the liabilities or the contingencies for which the Contingency Reserve was withheld have ceased to exist, any unused portion of the Contingency Reserve shall be returned to the applicable withdrawn Member as soon as it is reasonably practicable.
Limitations on Withdrawal of Capital Account. The right of any withdrawn Partner or his or its legal representatives to have distributed the Capital Account of such Partner pursuant to this Article VI is subject to the provision by the General Partner for all Partnership liabilities in accordance with the Act and for reserves for estimated accrued expenses, liabilities and contingencies all in accordance with Sec. 3.08. The unused portion of any reserve shall be distributed, with interest at the prevailing savings bank rate for unrestricted deposits from time to time in effect in New York, New York, as determined by the General Partner, after the General Partner shall have determined that the need therefor shall have ceased.
Limitations on Withdrawal of Capital Account. Prorated ------------------------------------------------------ Distributive Share. The right of any withdrawn, terminated, liquidated, ------------------ deceased or insane Partner or his legal representative to have distributed the positive balance of such Partner's Capital Account is subject to the reasonable provision by the General Partner, the successor General Partner or the Terminating Party, as appropriate, for all Partnership liabilities in accordance with the Texas Act and for reserves for contingencies, which reserves shall be held in escrow. The unused portion of any reserve shall be distributed after the General Partner shall have determined that the need therefor shall have ceased.
Limitations on Withdrawal of Capital Account. The right of any withdrawn Limited Partner or its legal representatives to have distributed the Capital Account of such Limited Partner pursuant to this Article V is subject to the provision by the General Partner for all Partnership liabilities in accordance with the Act, and for reserves for estimated accrued expenses, liabilities and contingencies, all as provided herein. The unused portion of any reserve shall be distributed after the General Partner has determined that the need therefor shall have ceased.
Limitations on Withdrawal of Capital Account. The right of any withdrawn Partner or its legal representatives to have distributed the Capital Account of such Partner pursuant to this Article VI is subject to the provision for all Partnership liabilities in accordance with the Act. The unused portion of any reserve shall be distributed to such withdrawn Partner, with interest at the average (calculated weekly) per annum short term (13 week) Treasury Xxxx rate, when the need therefor shall have ceased.
Limitations on Withdrawal of Capital Account. (a) The right of any Partner or its legal representatives to withdraw any amount from its Capital Account(s) and to have distributed to it any such amount (or any portion thereof) pursuant to this ARTICLE VII is subject to the provision by the General Partner for all Partnership Liabilities in accordance with the Act and for reserves for contingencies and estimated accrued expenses and liabilities in accordance with Section 5.7. In addition, no withdrawal shall be permitted that would result in a Capital Account having a negative balance. The unused portion of any reserve shall be distributed to the Partners to which the reserve applied after the General Partner shall have determined that the need therefor shall have ceased.
