Common use of Partners' Meetings Clause in Contracts

Partners' Meetings. The General Partnership shall not provide for regular partners' meetings. However, any partner may call a meeting by communicating his or her wish to schedule a meeting to all other partners. Such notification may be in person or in writing, or by telephone, facsimile machine, or other form of electronic communication reasonably expected to be received by a partner, and the other partners shall then agree, either personally, in writing, or by telephone, facsimile machine or other form of electronic communication to the partner calling the meeting, to meet at a mutually acceptable time and place. Notice of the business to be transacted at the meeting need not be given to partners by the partner calling the meeting, and any business may be discussed and conducted at the meeting. If all partners cannot attend a meeting, it shall be postponed to a date and time when all partners can attend, unless all partners who do not attend have agreed in writing to the holding of the meeting without them. If a meeting is postponed, and the postponed meeting cannot be held either because all partners do not attend the postponed meeting or the non-attending partners have not signed a written consent to allow the postponed meeting to be held without them, a second postponed meeting may be held at a date and time announced at the first postponed meeting. The date and time of the second postponed meeting shall also be communicated to any partners not attending the first postponed meeting. The second postponed meeting may be held without the attendance of all partners as long as a majority of the percentage interests of the partnership of this General Partnership is in attendance at the second postponed meeting. Written notice of the decisions or approvals made at this second postponed meeting shall be mailed or delivered to each non-attending partner promptly after the holding of the second postponed meeting. Written minutes of the discussions and proposals presented at a partners' meeting, and the votes taken and matters approved at such meeting, shall be taken by one of the partners or a person designated at the meeting. A copy of the minutes of the meeting shall be placed in the Partnership's records book after the meeting.