Common use of Successor General Partner Clause in Contracts

Successor General Partner. A. Upon the occurrence of any Terminating 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 General Partner as to whom such event shall have occurred. Any Person so designated, subject to the Consent of Special Limited Partner, which Consent may be withheld or granted in Special Limited Partner's sole and absolute discretion (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 such Person's written agreement to be bound by the Project Documents and by the provisions of this Agreement. B. If any 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 preceding provisions of this Section 10.3, then Special Limited Partner shall have the right to either become a successor General Partner or to designate a Person to become a successor General Partner upon such Person's written agreement to be bound by the Project Documents and by the provisions of this Agreement. C. If Special Limited Partner elects to reconstitute the Partnership pursuant to this Section 10.3 and admit a successor General Partner pursuant to this Section 10.3, the relationship of the parties in the reconstituted Partnership shall be governed by this Agreement as the same may be amended by the then Partners in the Partnership.

Successor General Partner. A. (a) Upon the occurrence of any Terminating Event referred to in Section 10.2Withdrawal, the remaining General Partners may (but are not required to) designate a Person to become a successor General Partner to the Withdrawing General Partner Partner. Except as provided in Section 7.5 and subject to whom such event shall have occurred. Any the provisions of Section 7.5, any Person so designated, subject to any Requisite Approvals, the Consent of Special the Investment Limited Partner, which Consent may be withheld or granted in Special Limited Partner's sole and absolute discretion (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 such Person's his written agreement to be bound by the Project Documents and by the provisions of this Agreement. B. (b) If any Terminating Event referred to in Section 10.2 Withdrawal shall occur at a time when there is no remaining General Partner and no successor becomes a successor General Partner pursuant the Partners do not unanimously elect to continue the preceding business of the Partnership in accordance with the provisions of this clause (ii) of Section 10.37.2(a) above, then Special a majority of those Persons constituting the Investment Limited Partner shall have the right right, subject to either become a successor General Partner or any Requisite Approvals and the provisions of Section 7.5, to designate a Person to become a successor General Partner upon such Person's his written agreement to be bound by the Project Documents and by the provisions of this Agreement. C. (c) If Special a majority of those Persons constituting the Investment Limited Partner elects to reconstitute the Partnership pursuant to this Section 10.3 and admit a successor General Partner pursuant to this Section 10.37.3, the relationship of the parties Partners in the reconstituted Partnership shall be governed by this Agreement as the same may be amended by the then Partners in the PartnershipAgreement.