Transfers and Repurchases. Termination of Status of General Partner. A General Partner will cease to be a general partner of the Partnership if the General Partner (a) is dissolved or otherwise terminates its existence; (b) voluntarily withdraws as General Partner (which it may do at any time in its sole discretion); (c) is removed; (d) Transfers its entire Interest as General Partner as permitted under Section 4.3 of this Agreement and the Person to which the Interest is Transferred is admitted as a substituted General Partner under Section 2.6(a) of this Agreement; or (e) otherwise ceases to be a General Partner under the Delaware Act.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Hatteras Multi-Strategy Fund I, L.P.), Limited Partnership Agreement (Hatteras Multi-Strategy Fund II, L.P.), Limited Partnership Agreement (Hatteras Multi-Strategy TEI Institutional Fund, L.P.)
Transfers and Repurchases. Termination of Status of General Partner. A General Partner will cease to be a general partner of the Partnership if the General Partner (a) is dissolved or otherwise terminates its existence; (b) voluntarily withdraws as General Partner (which it may do at any time in its sole discretion); (c) is removed; (d) Transfers all of its entire Interest Units held as General Partner as permitted under Section 4.3 of this Agreement and the Person to which the Interest is Units are Transferred is admitted as a substituted General Partner under Section 2.6(a) of this Agreement; or (e) otherwise ceases to be a General Partner under the Delaware Act.
Appears in 1 contract
Samples: Limited Partnership Agreement (Hatteras Core Alternatives TEI Fund, L.P.)
