Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. "
Appears in 38 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement, Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does may not constitute withdraw from the Partnership without the consent of a breach Majority Interest of this Agreementthe Limited Partners. The withdrawing General Partner then becomes a Limited Partner and will retain the economic interest (previously held Upon withdrawal as a General Partner) , the interest of the former General Partner shall be treated thenceforth as the interest of a Limited Partner. If after Partner in the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. "manner provided in Section 12.2.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Ensource Energy Income Fund LP), Limited Partnership Agreement (Ensource Energy Income Fund LP), Limited Partnership Agreement (Ensource Energy Income Fund LP)
Withdrawal of General Partner. The withdrawal of any person General Partner may withdraw as a General Partner for of the Partnership without the consent of any reason does not constitute a breach of this AgreementPerson upon notice to the Limited Partners. The withdrawing Any such withdrawal by the General Partner then becomes a Limited Partner and will retain shall result in the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business dissolution of the Limited Partnership. "; provided that the General Partner may admit additional general partners of the Partnership or successor general partners of the Partnership, which additional or successor general partners may be affiliated with the General Partner or, subject to applicable law, may be unaffiliated third parties, and in such case the withdrawal by the General Partner shall not result in the dissolution of the Partnership.
Appears in 3 contracts
Samples: Subscription and Support Agreement (Blue Eagle Holdings, L.P.), Subscription and Support Agreement (Blue Eagle Holdings, L.P.), Contribution and Support Agreement (Innotrac Corp)
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. ".
Appears in 1 contract
Samples: Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. "β
Appears in 1 contract
Samples: Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. ".
Appears in 1 contract
Samples: Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner Partner, and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. "
Appears in 1 contract
Samples: Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person No General Partner may Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner for any reason does not constitute declines to be admitted as a breach of this Agreement. The withdrawing successor General Partner then becomes a Limited Partner and will retain on the economic interest (previously held as a General Partner) as a Limited Partner. If after agreement of one or more Persons who satisfy the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business requirements of the Limited Partnership. "Section
Appears in 1 contract
Samples: Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner , and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s)Partners, these General Partner(s) Partners will continue the business of the Limited Partnership. "β
Appears in 1 contract
Samples: Limited Partnership Agreement
Withdrawal of General Partner. The withdrawal of any person as a General Partner for any reason does not constitute a breach of this Agreement. The withdrawing General Partner then becomes a Limited Partner and will retain the economic interest (previously held as a General Partner) as a Limited Partner. If after the withdrawal, there remains other General Partner(s), these General Partner(s) will continue the business of the Limited Partnership. "the
Appears in 1 contract
Samples: Limited Partnership Agreement