Liquidator. Upon dissolution of the Partnership, the General Partner will appoint a Person to act as the “Liquidator,” and such Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 days’ prior written notice to the General Partner. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator approved by the General Partner. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider of the Partnership or any of its Subsidiaries, or (2) if the Liquidator is not such a Person, such compensation as the General Partner may approve which shall be borne as an expense of the Partnership plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 2 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (J.Jill, Inc.)
Liquidator. Upon dissolution of the Partnership, the General Partner Board will appoint a Person person to act as the “Liquidator,” ”, and such Person person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 days’ prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider of the Partnership or any of its Subsidiaries, or (2) if the Liquidator is not such a Person, such compensation as the General Partner Board may approve which shall be borne as an expense of the Partnership approve, plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 2 contracts
Samples: Limited Liability Limited Partnership Agreement (Ladder Capital Finance Holdings LLLP), Limited Liability Limited Partnership Agreement (Ladder Capital Corp)
Liquidator. Upon dissolution of the PartnershipCompany, the General Partner Board will appoint a Person to act as the “"Liquidator,” " and such Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 days’ ' prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with for or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1i) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership Company or any of its Subsidiaries, or (2ii) such compensation as the Board may approve, if the Liquidator is not such a Personan employee, such compensation as the General Partner may approve which shall be borne as an expense of the Partnership plus, in either case, reimbursement of the Liquidator’s reasonable 's out-of-pocket expenses in performing its duties.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Muzak Holdings Finance Corp)
Liquidator. Upon dissolution of the Partnership, the General Partner Board will appoint a Person person to act as the “Liquidator,” ”, and such Person person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 days’ prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership or any of its SubsidiariesSubsidiaries or is a TowerBrook Investor, GI Investor or any of their respective Affiliates, or (2) if the Liquidator is not such a Person, such compensation as the General Partner Board may approve which shall be borne as an expense of the Partnership approve, plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 1 contract
Samples: Limited Liability Limited Partnership Agreement (Ladder Capital Finance Corp)
Liquidator. Upon dissolution of the PartnershipCompany, the General Partner Board will ---------- appoint a Person to act as the “"Liquidator,” " and such Person shall act as the ---------- Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 days’ ' prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with for or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1i) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership Company or any of its Subsidiaries, or (2ii) such compensation as the Board may approve, if the Liquidator is not such a Personan employee, such compensation as the General Partner may approve which shall be borne as an expense of the Partnership plus, in either case, reimbursement of the Liquidator’s reasonable 's out-of-pocket ---- expenses in performing its duties.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Muzak Finance Corp)
Liquidator. Upon dissolution of the Partnership, the General Partner will appoint a Person person to act as the “Liquidator,” ”, and such Person person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 thirty (30) days’ prior written notice to the General Partner. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator Xxxxxxxxxx approved by the General Partner. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1i) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership or any of its Subsidiaries, or (2ii) if the Liquidator is not such a Person, such compensation as the General Partner may approve which shall be borne as an expense of the Partnership plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 1 contract
Samples: Limited Partnership Agreement (Newtek Business Services Corp.)
Liquidator. Upon dissolution of the PartnershipCompany, the General Partner Board will appoint a Person to act as the “Liquidator,” and such Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 thirty (30) days’ prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership Company or any of its Subsidiariessubsidiaries, or (2) if the Liquidator is not such a Personan employee, such compensation as the General Partner Board may approve which shall be borne as an expense of the Partnership approve, plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Hc2 Holdings, Inc.)
Liquidator. Upon dissolution of the PartnershipCompany, the General Partner Board will appoint a Person to act as the “Liquidator,” and such Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.2. The Liquidator will agree not to resign at any time without 30 thirty (30) days’ prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.2. The Liquidator will receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership Company or any of its Subsidiariessubsidiaries, or (2) if the Liquidator is not such a Personan employee, such compensation as the General Partner Board may approve which shall be borne as an expense of the Partnership approve, plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket out‑of‑pocket expenses in performing its duties.
Appears in 1 contract
Liquidator. Upon dissolution the occurrence of the Partnershipa Dissolution Event, the General Partner Board of Managers will appoint a Person to act as the “"Liquidator,” ", and such Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.210.02. The Liquidator will agree not to resign at any time without 30 days’ ' prior written notice to the General PartnerBoard of Managers. The Liquidator may be removed at any time, with for or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard of Managers. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 10.02 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.210.02. The Liquidator will shall receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider of the Partnership or any reimbursement of its Subsidiaries, or (2) if the Liquidator is not such a Person, such compensation as the General Partner may approve which shall be borne as an expense of the Partnership plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Txu Energy Co LLC)
Liquidator. Upon dissolution of the PartnershipCompany, the General Partner Board will appoint a Person person to act as the “Liquidator"LIQUIDATOR,” " and such Person person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.28.2. The Liquidator will agree not to resign at any time without 30 days’ ' prior written notice to the General PartnerBoard. The Liquidator may be removed at any time, with or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 8.2 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.28.2. The Liquidator will receive as compensation for its services (1i) no additional compensation, if the Liquidator is an employee, consultant or other service provider employee of the Partnership Company or any of its Subsidiaries, or (2ii) if the Liquidator is not such a Personan employee, such compensation as the General Partner Board may approve which shall be borne as an expense of the Partnership approve, plus, in either case, reimbursement of the Liquidator’s reasonable 's out-of-pocket expenses in performing its duties.
Appears in 1 contract
Liquidator. Upon dissolution the occurrence of the Partnershipa Dissolution Event, the General Partner Board of Managers will appoint a Person to act as the “Liquidator,” ”, and such Person shall act as the Liquidator unless and until a successor Liquidator is appointed as provided in this Section 10.210.02. The Liquidator will agree not to resign at any time without 30 days’ prior written notice to the General PartnerBoard of Managers. The Liquidator may be removed at any time, with for or without cause, by notice of removal and appointment of a successor Liquidator approved by the General PartnerBoard of Managers. Any successor Liquidator will succeed to all rights, powers and duties of the former Liquidator. The right to appoint a successor or substitute Liquidator in the manner provided in this Section 10.2 10.02 will be recurring and continuing for so long as the functions and services of the Liquidator are authorized to continue under the provisions of this Agreement, and every reference in this Agreement to the Liquidator will be deemed to refer also to any such successor or substitute Liquidator appointed in the manner provided in this Section 10.210.02. The Liquidator will shall receive as compensation for its services (1) no additional compensation, if the Liquidator is an employee, consultant or other service provider of the Partnership or any reimbursement of its Subsidiaries, or (2) if the Liquidator is not such a Person, such compensation as the General Partner may approve which shall be borne as an expense of the Partnership plus, in either case, reimbursement of the Liquidator’s reasonable out-of-pocket expenses in performing its duties.
Appears in 1 contract
Samples: Limited Liability Company Agreement (TCEH Finance, Inc.)