Ownership by Limited Partner of Corporate General Partner or Affiliate No Limited Partner shall at any time, either directly or indirectly, own any stock or other interest in the General Partner or in any Affiliate thereof, if such ownership by itself or in conjunction with other stock or other interests owned by other Limited Partners would, in the opinion of counsel for the Partnership, jeopardize the classification of the Partnership as a partnership for federal tax purposes. The General Partner shall be entitled to make such reasonable inquiry of the Limited Partners as is required to establish compliance by the Limited Partners with the provisions of this Section.
Additional Limited Partners Subject to the other terms of this Agreement, the rights and obligations of an Additional Limited Partner to which Units are issued shall be set forth in such Additional Limited Partner’s Partner Agreement, the Unit Designation relating to the Units issued to such Additional Limited Partner or a written document thereafter attached to and made an exhibit to this Agreement, which exhibit shall be an amendment to this Agreement (but shall not require the approval of any Limited Partner) and shall be incorporated herein by this reference. Such rights and obligations may include, without limitation, provisions describing the vesting of the Units issued to such Additional Limited Partner and the reallocation of such Units or other consequences of the Withdrawal of such Additional Limited Partner other than due to a breach of any of the covenants in Section 2.13(b) or, if applicable, any of those provided in such Additional Limited Partner’s Partner Agreement.
Certification of Limited Liability Company and Limited Partnership Interests Each interest in any limited liability company or limited partnership controlled by any Grantor and pledged hereunder shall be represented by a certificate, shall be a “security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New York UCC.
General Wage Increases Effective and retroactive to July 1, 2021, the annual base salary shall be increased by 2.5% for all active employees. 2.5% shall be extended and retroactive to employees who retired and terminated/separated in good standing with 10 years or more of state service on or after 07/01/2021. Effective 07/01/2022 the annual base salary shall be increased by 2.5% for all active employees. Effective 07/01/2023 the annual base salary shall be increased by 2.5% for all active employees. **Wage reopener for 2024 – 2025 (for effective date July 1, 2024).
Fifth Amended and Restated Limited Liability Company Operating Agreement Dated as of November 30, 2012
Wage Increase 1. The minimum hourly wage amounts in the salary table in column I (job grades 1 up to and includ- ing 3) concern the statutory minimum wage and are adjusted in the event of an increase in the statutory minimum wage.
2. Each calendar year, in principle before 1 July, the CLA parties shall conduct talks on the adjust- ment of the (other) amounts shown in the salary table (column I, job grades 4 up to and including 6, column II and III) in article 28(2) of the CLA from 1 July of that year.
3. If an adjustment of the salary table (column I, job grades 4 up to and including 6, columns II and III) is agreed pursuant to paragraph 2 of this article, this will be applied as follows:
a. The salary table (column I, job grades 4 up to and including 6, columns II and III) will be increased by the agreed percentage and
b. the actual wage of the temporary agency worker will be increased by the agreed percentage from the agreed date.
Partnership Capital (a) Except as may be otherwise specifically provided in this Agreement, no Partner shall be paid interest on any Capital Contribution to the Partnership.
(b) No Partner shall have the right to withdraw all or any part of its Capital Contribution or to receive any return on any portion of its Capital Contribution, except as may be otherwise specifically provided in this Agreement.
(c) Under circumstances involving a return of any Capital Contribution, no Partner shall have the right to receive property other than cash.
Wage Increases The wage rates in this Agreement will only be increased in accordance with any increases which may be awarded by the Australian Fair Pay Commission through wage reviews. The level of any increases will be such that the percentage wage increase as set out in Clause 15 of this agreement will be maintained. No additional increases in wage rates will apply to the rate of pay in Clause 15 of this Agreement while it is in operation.
Amendment of Agreement and Certificate of Limited Partnership For the admission to the Partnership of any Partner, the General Partner shall take all steps necessary and appropriate under the Act to amend the records of the Partnership and, if necessary, to prepare as soon as practical an amendment of this Agreement (including an amendment of Exhibit A) and, if required by law, shall prepare and file an amendment to the Certificate and may for this purpose exercise the power of attorney granted pursuant to Section 2.4 hereof.
Certificate of Limited Partnership The General Partner has caused the Certificate of Limited Partnership to be filed with the Secretary of State of the State of Delaware as required by the Delaware Act. The General Partner shall use all reasonable efforts to cause to be filed such other certificates or documents that the General Partner determines to be necessary or appropriate for the formation, continuation, qualification and operation of a limited partnership (or a partnership in which the limited partners have limited liability) in the State of Delaware or any other state in which the Partnership may elect to do business or own property. To the extent the General Partner determines such action to be necessary or appropriate, the General Partner shall file amendments to and restatements of the Certificate of Limited Partnership and do all things to maintain the Partnership as a limited partnership (or a partnership or other entity in which the limited partners have limited liability) under the laws of the State of Delaware or of any other state in which the Partnership may elect to do business or own property. Subject to the terms of Section 3.4(a), the General Partner shall not be required, before or after filing, to deliver or mail a copy of the Certificate of Limited Partnership, any qualification document or any amendment thereto to any Limited Partner.
