Common use of Reserves and Holdbacks Clause in Contracts

Reserves and Holdbacks. (i) The right of any Partner or its legal representatives to withdraw any amount from its Capital Account(s) and to have distributed to it any such amount (or any portion thereof) pursuant to this Article VI is subject to the provision by the General Partner for all Partnership liabilities in accordance with the Act and for reserves and holdbacks in accordance with Section 5.06.

Appears in 5 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement, cdn2.hubspot.net

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Reserves and Holdbacks. (i) The right of any Partner or its legal representatives to withdraw any amount from its Capital Account(s) Account and to have distributed to it any such amount (or any portion thereof) pursuant to this Article VI is subject to the provision by the General Partner for all Partnership liabilities in accordance with the Act ELP Law and for reserves and holdbacks in accordance with Section 5.06.

Appears in 1 contract

Samples: Partnership Agreement

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