Common use of Resignation of Managing Partner Clause in Contracts

Resignation of Managing Partner. The Managing Partner may resign as such upon written notice to the Partners, but such resignation shall only become effective upon the earlier of: (a) The appointment of a new Managing Partner of the Partnership within ninety (90) days after such written notice is given; and (b) The end of a meeting of the Partners called by the Managing Partner for the purpose of appointing a new Managing Partner if a new Managing Partner is not appointed within the period of ninety (90) days referred to in Section 6.9(a).