Common use of Successor General Partner Clause in Contracts

Successor General Partner. (a) Upon the occurrence of any Withdrawal, the remaining General Partners may designate a Person to become a successor General Partner to the Withdrawing General Partner. Any Person so designated, subject to any Requisite Approvals, the Consent of the Investment Limited Partner and, if required by the Act or any other applicable law, the consent of any other Partner so required, shall become a successor General Partner upon his written agreement to be bound by the Project Documents and by the provisions of this Agreement. (b) If any Withdrawal shall occur at a time when there is no remaining General Partner and the Partners do not unanimously elect to continue the business of the Partnership in accordance with the provisions of clause (ii) of Section 7.2(a) above, then the Investment Limited Partner shall have the right, subject to any Requisite Approvals, to designate a Person to become a successor General Partner upon his written agreement to be bound by the Project Documents and by the provisions of this Agreement. (c) If the Investment Limited Partner elects to reconstitute the Partnership and admit a successor General Partner pursuant to this Section 7.3, the relationship of the Partners in the reconstituted Partnership shall be governed by this Agreement.

Successor General Partner. (a) Upon the occurrence of any Withdrawal, the remaining General Partners may designate a Person to become a successor General Partner to the Withdrawing General Partner. Any Except as provided in Section 7.5 and subject to the provisions of Section 7.5, any Person so designated, subject to any Requisite Approvals, the Consent of the Investment Limited Partner and, if required by the Act or any other applicable law, the consent of any other Partner so required, shall become a successor General Partner upon his written agreement to be bound by the Project Documents and by the provisions of this Agreement. (b) If any Withdrawal shall occur at a time when there is no remaining General Partner and the Partners do not unanimously elect to continue the business of the Partnership in accordance with the provisions of clause (ii) of Section 7.2(a) above, then the Investment Limited Partner shall have the right, subject to any Requisite ApprovalsApprovals and the provisions of Section 7.5, to designate a Person to become a successor General Partner upon his written agreement to be bound by the Project Documents and by the provisions of this Agreement. (c) If the Investment Limited Partner elects to reconstitute the Partnership and admit a successor General Partner pursuant to this Section 7.3, the relationship of the Partners in the reconstituted Partnership shall be governed by this Agreement.

Successor General Partner. (a) A. Upon the occurrence of any WithdrawalTerminating Event referred to in Section 10.2, the remaining General Partners may (but are not required to) designate a Person to become a successor General Partner to the Withdrawing General PartnerPartner as to whom such event shall have occurred. Any Person so designated, subject to any Requisite Approvals, the Consent of the Investment Investor Limited Partner (and, if required by the Act or any other applicable law, the consent of any other Partner so required), shall become a successor General Partner upon his its written agreement to be bound by the Project Documents and by the provisions of this Agreement. (b) B. If any Withdrawal Terminating Event referred to in Section 10.2 shall occur at a time when there is no remaining General Partner and no successor becomes a successor General Partner pursuant to the Partners do not unanimously elect to continue the business of the Partnership in accordance with the preceding provisions of clause (ii) of this Section 7.2(a) above10.3, then the Investment Investor Limited Partner shall have the right, subject to any Requisite Approvals, right to designate a Person to become a successor General Partner upon his or its written agreement to be bound by the Project Documents and by the provisions of this Agreement. (c) C. If the Investment Investor Limited Partner elects to reconstitute the Partnership pursuant to this Section 10.3 and admit a successor General Partner pursuant to this Section 7.310.3, the relationship of the Partners parties in the reconstituted Partnership shall be governed by this Agreement.