Common use of Voluntary Withdrawals Clause in Contracts

Voluntary Withdrawals. A Partner may withdraw capital from their Capital Account only in accordance with the following procedures and limitations and those set forth in Sections 4.4.2 and 5.4, unless the General Partner consents (which consent may be granted or withheld in its sole and absolute discretion) to a deviation from one or more of such procedures or limitations: (i) a Limited Partner may not make a withdrawal at any time other than the last day of a calendar month; and (ii) a Limited Partner must give written Notice to the General Partner at least thirty (30) days before the proposed Effective Time of a withdrawal. Any withdrawal request that would result in a Partner having a Capital Account with a Net Asset Value of less than $1,000 will be treated as a withdrawal in full.

Appears in 6 contracts

Samples: Limited Partnership Agreement (MA Managed Futures Fund, LP), Limited Partnership Agreement (MA Managed Futures Fund, LP), Limited Partnership Agreement (MA Managed Futures Fund, LP)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!