Withdrawal of a General Partner; Effect on Partnership. In the event of the withdrawal of a General Partner, the Partnership shall be dissolved and terminated; provided, however, that in any one or more of such events, the Partnership shall be continued if: (i) there are one or more remaining General Partners, in which event the relationship among the Partners shall be governed by this Agreement and the remaining General Partner shall become the successor General Partner; or (ii) in the event there is no remaining General Partner, all of the Limited Partner(s) agree, in writing, within forty-five (45) days of the event removing the General Partner, to continue the Partnership for the balance of the term specified in Section 1.5. Thereafter, within an additional fifteen (15) days, one or more successor General Partners shall be selected, which selection shall be by unanimous written consent of the Limited Partners, and the relationship among the Partners shall be governed by this Agreement.
Appears in 123 contracts
Samples: Agreement of Limited Partnership (Carrabba's/Colorado-I, Limited Partnership), Agreement of Limited Partnership (Carrabba's/Colorado-I, Limited Partnership), Agreement of Limited Partnership (Carrabba's/Colorado-I, Limited Partnership)
