Common use of Removal of a Partner Clause in Contracts

Removal of a Partner. Any partner may be removed by agreement of the majority of the partners. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to the matter. The removal shall become effective upon payment of the value of the removed partners capital account, which shall be in accordance with provision in paragraph 23. The vote action shall be treated as receipt of request for withdrawal.

Appears in 1 contract

Samples: Partnership Agreement

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Removal of a Partner. Any partner may be removed by agreement of the partners whose capital accounts total a majority of the value of all partners' capital accounts. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to the this matter. The removal shall become effective upon payment of the value of the removed partners partner's capital account, which shall be in accordance with provision the provisions on full withdrawal of a partner noted in paragraph 23paragraphs 17 and 19. The vote action shall be treated as receipt of request for withdrawal.

Appears in 1 contract

Samples: Partnership Agreement

Removal of a Partner. Any partner may be removed by agreement of the partners whose capital accounts total a majority of the value of all partners’ capital accounts. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to the this matter. The removal shall become effective upon payment of the value of the removed partners partner’s capital account, which shall be in accordance with provision the provisions on full withdrawal of partner noted in paragraph 23paragraphs 18 and 20. The vote action shall be treated as receipt of request for withdrawal.

Appears in 1 contract

Samples: Agreement

Removal of a Partner. Any partner may be removed by agreement of the other partners, by a super-majority vote of the all other partners. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to this matter. The successful vote shall be treated as receipt of request for full withdrawal of ALL accounts associated with the matterpartner. The removal shall become effective upon payment of the value of the removed partners partner's capital accountaccount(s), which shall be in accordance with provision the provisions on full withdrawal of a partner noted in paragraph 23. The vote action shall be treated as receipt of request for withdrawalsection 20.

Appears in 1 contract

Samples: Partnership Agreement

Removal of a Partner. Any partner may be removed by agreement of the partners whose capital accounts total a majority of the value of all partners' capital accounts. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to the this matter. The removal shall become effective upon payment of the value of the removed partners partner's capital account, which shall be in accordance with provision the provisions on full withdrawal of a partner noted in paragraph 23paragraphs 20 and 22. The vote action shall be treated as receipt of request for withdrawal.

Appears in 1 contract

Samples: Partnership Agreement

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Removal of a Partner. Any partner may be removed by agreement of the partners whose capital accounts total a majority of the value of all partners’ capital accounts. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to the this matter. The removal shall become effective upon payment of the value of the removed partners partner’s capital account, which shall be in accordance with provision the provisions on full withdrawal of a partner noted in paragraph 23paragraphs 18 and 20. The vote action shall be treated as receipt of request for withdrawal.

Appears in 1 contract

Samples: www.bivio.com

Removal of a Partner. Any partner may be removed by agreement of the partners whose capital accounts total a majority of the value of all partners' capital accounts. Written notice of a meeting where removal of a partner is to be considered shall include a specific reference to the matter. The removal shall become effective upon payment of the value of the removed partners capital account, which shall be in accordance with provision the provisions on full withdrawal of a partner in paragraph 23paragraphs 22 and 24. The vote action shall be treated as receipt of request for withdrawal.

Appears in 1 contract

Samples: Partnership Agreement

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