Removal of a General Partner. The Limited Partners holding a majority in interest of the Units may remove any or all of the General Partners. Written notice of such determination setting forth the effective date of such removal shall be served upon the General Partner or General Partners so removed and, as of the effective date, shall terminate all of such persons' rights and powers as a General Partner.
Appears in 4 contracts
Samples: Limited Partnership Agreement (N Tandem Trust), Limited Partnership Agreement (Windsor Park Properties 5), Limited Partnership Agreement (Windsor Park Properties 7)
Removal of a General Partner. The Limited Partners holding a majority in interest of the Units may remove any or all of the General Partners. Written notice of such determination setting forth the effective date of such removal shall be served upon the General Partner or General Partners so removed and, as of the effective date, shall terminate all of such persons' Person’s rights and powers as a General Partner.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 3), Limited Partnership Agreement (Consolidated Capital Institutional Properties 2)
Removal of a General Partner. The Limited Partners holding Partners, upon a majority vote of eighty percent (80%) in interest of the Units may remove any or all of the General PartnersPartner. Written notice of such determination setting forth the effective date of such removal shall be served upon the General Partner or General Partners so removed andremoved, and as of the effective date, shall terminate all of such persons' person's rights and powers as a General Partner or its affiliate's right to be compensated under Article VI and except for the General Partner's rights under Section 10.3 below.
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Samples: Partnership Agreement (Hartman Commercial Properties Reit)
Removal of a General Partner. The Limited Partners holding a majority in interest of the Units may remove any or all of the General Partners. Written notice of such determination setting forth the effective date of such removal shall be served upon the General Partner or General Partners so removed and, and as of the effective date, shall terminate all of such persons' rights and powers as a General Partner.
Appears in 1 contract
Samples: Limited Partnership Agreement (Windsor Park Properties 3)
Removal of a General Partner. The A General Partner shall be removed as a General Partner of the Partnership with or without cause effective as of the date referred to in Paragraph 10.3 upon the vote or written consent of a Majority of the Limited Partners holding a majority in interest of the Units may remove any or all of the General Partners. Written notice of such determination setting forth the effective date of to remove; provided, however, such removal shall be served upon not eliminate any then existing obligations of the Partnership to such General Partner or such General Partner to the Limited Partners so removed and, as of or the effective date, shall terminate all of such persons' rights and powers as a General PartnerPartnership.
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