Withdrawal by Limited Partners. No Limited Partner shall have the right to withdraw from the Partnership, receive cash distributions or otherwise obtain the return of all or any portion of his Capital Account balance for a period of one year after such Limited Partner's initial purchase of Units, except for monthly, quarterly or annual distributions of Cash Available for Distribution, if any, to which such Limited Partner may be entitled pursuant to Section 5.2 above. Withdrawal after a minimum one year holding period and before the five year holding period as set forth below shall be permitted in accordance with subsection (a) below. If a Limited Partner elects to withdraw either after the one (1) year holding period or the five (5) year withholding period, he will continue to receive distributions or have those Earnings compounded depending upon his initial election, based upon the balance of his capital account during the withdrawal period. Limited Partners may also withdraw after a five year holding period in accordance with subsection b(i) and (ii). A Limited Partner may withdraw or partially withdraw from the Partnership upon the following terms:
Appears in 6 contracts
Samples: Limited Partnership Agreement (Redwood Mortgage Investors Viii), Limited Partnership Agreement (Redwood Mortgage Investors Viii), Limited Partnership Agreement (Redwood Mortgage Investors Viii)
