Rights of Partner After Retirement or Withdrawal. A Partner ceases to have any Partnership Rights upon his Retirement or complete withdrawal from the Partnership. However, until the appropriate distributions, if any, are made to a Retired or withdrawn Partner for his Partnership Interest, the Retired or withdrawn Partner is entitled to receive the allocations of Profits and Losses, Taxable Income or Taxable Loss and all distributions referred to in section 14 applicable to his Partnership Interest.
Appears in 8 contracts
Samples: Limited Partnership Agreement (Paxson Communications Corp), Limited Partnership Agreement (Paxson Communications Corp), Limited Partnership Agreement (Paxson Communications Corp)
