Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDED, HOWEVER, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnership. (b) If a General Partner has been removed pursuant to this Section 9.4(a) and the Partnership is not continued pursuant to Section 9.3(b), the partnership shall be dissolved. (c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 7 contracts
Samples: Agreement of Limited Partnership (Education Realty Trust, Inc.), Agreement of Limited Partnership (Education Realty Trust, Inc.), Agreement of Limited Partnership (Education Realty Trust, Inc.)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) and the Partnership is not continued pursuant to Section 9.3(b), the partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 7 contracts
Samples: Agreement of Limited Partnership (Ashford Hospitality Trust Inc), Limited Partnership Agreement (Ashford Hospitality Prime, Inc.), Limited Partnership Agreement (Ashford Hospitality Prime, Inc.)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) 9.4 and the Partnership is not continued pursuant to Section 9.3(b), the partnership Partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 4 contracts
Samples: Agreement of Limited Partnership (Innsuites Hospitality Trust), Limited Partnership Agreement (Stonehaven Realty Trust), Limited Partnership Agreement (Realty Refund Trust)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) 9.4 and the Partnership is not continued pursuant to Section 9.3(b), the partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Boykin Lodging Co), Agreement of Limited Partnership (Boykin Lodging Co), Agreement of Limited Partnership (Boykin Lodging Trust Inc)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDED, HOWEVER, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) and the Partnership is not continued pursuant to Section 9.3(b), the partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 2 contracts
Samples: Contract of Sale/Contribution (Education Realty Trust, Inc.), Contract of Sale (Education Realty Trust, Inc.)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a general partner or the last remaining limited partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) and the Partnership is not continued pursuant to Section 9.3(b), the partnership Partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Stirling Hotels & Resorts, Inc.), Limited Partnership Agreement (Ashford Hospitality Prime, Inc.)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a general partner or the last remaining limited partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) and the Partnership is not continued pursuant to Section 9.3(b), the partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Ashford Hospitality Trust Inc), Agreement of Limited Partnership (Ashford Hospitality Trust Inc)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
(b) If a General Partner has been removed pursuant to this Section 9.4(a) and the Partnership is not continued pursuant to Section 9.3(b), the partnership shall be dissolved.
(c) A General Partner may not be removed by the Limited Partners with or without cause.
Appears in 1 contract
Samples: Limited Partnership Agreement (Ashford Hospitality Prime, Inc.)
