Common use of Withdrawal of the General Partner Clause in Contracts

Withdrawal of the General Partner. (a) Upon the occurrence of an event of withdrawal (as defined in the Act) of the General Partner that results in there being no General Partner, the Partnership shall not be dissolved, if, within ninety (90) days after such event of withdrawal of such General Partner, a Majority in Interest agree in writing to continue the business of the Partnership and to the appointment, effective as of the date of withdrawal of the General Partner, of one or more additional General Partners. (b) Upon the occurrence of an event of withdrawal of the General Partner that results in there being no General Partner, without continuation of the Partnership as provided above, the affairs of the Partnership shall be wound up in accordance with the provisions of Section 6.02. (c) Except as provided in Sections 6.04(a) and 8.01, any Person who acquires the interest of the General Partner, or any portion of such interest, in the Partnership, will not be a General Partner but will become a special limited partner (a “Special Limited Partner”) upon his written acceptance and adoption of all the terms and provisions of this Agreement. Such Person will acquire no more than the interest of the General Partner in the Partnership as it existed on the date of the transfer. No such Person will have any right to participate in the management of the affairs of the Partnership or to vote with the Limited Partners, and the interest acquired by such Person will be disregarded in determining whether any action has been taken by any percentage of the limited partnership interests.

Withdrawal of the General Partner. (a) Upon the occurrence of an event of withdrawal (as defined in the Act) of the General Partner that results in there being no General Partner, the Partnership shall not be dissolved, if, within ninety (90) 90 days after such event of withdrawal of such General Partner, a Majority in Interest of the Limited Partners agree in writing to continue the business of the Partnership and to the appointment, effective as of the date of withdrawal of the General Partner, of one or more additional General Partners. (b) Upon the occurrence of an event of withdrawal of the General Partner that results in there being no General Partner, without continuation of the Partnership as provided above, the affairs of the Partnership shall be wound up in accordance with the provisions of Section 6.027.02. (c) Except as provided in Sections 6.04(a7.04(b) and 8.019.01, any Person person who acquires the interest of the General Partner, or any portion of such interest, in the Partnership, will not be a General Partner but will become a special limited partner (a “Special Limited Partner”) upon his written acceptance and adoption of all the terms and provisions of this Agreement. Such Person person will acquire no more than the interest of the General Partner in the Partnership as it existed on the date of the transfer. No such Person person will have any right to participate in the management of the affairs of the Partnership or to vote with the Limited Partners, and the interest acquired by such Person person will be disregarded in determining whether any action has been taken by any percentage of the limited partnership interests.

Withdrawal of the General Partner. (a) Upon the occurrence of an event of withdrawal (Except as defined provided in the Act) of Section 4.03, the General Partner that results in there being no General Partner, may not withdraw as the Partnership shall not be dissolved, if, within ninety (90) days after such event of withdrawal of such General Partner, a Majority in Interest agree in writing to continue the business general partner of the Partnership and to without the appointment, effective as approval of twenty five percent (25%) in interest of the date of withdrawal of the General Partner, of one or more additional General Private Limited Partners. (b) Upon To the occurrence extent required by the SBIC Act, no transfer of an event of withdrawal the interest of the General Partner that results in there being no General Partner, or any portion of such interest, will be effective without continuation the consent of the Partnership as provided above, the affairs of the Partnership shall be wound up in accordance with the provisions of Section 6.02SBA. (c) Except as provided in Sections 6.04(a) and 8.01Section 8.03(b), Section 10.01(b), Section 10.01(d), or Section 10.01(f), any Person person who acquires the interest of the General Partner, or any portion of such interest, in the Partnership, will not be a General Partner but will become a special private limited partner (a “Special Private Limited Partner”) upon his such person’s written acceptance and adoption of all the terms and provisions of this Agreement. Such Person person will acquire no more than the interest of the General Partner in the Partnership as it existed on the date of the transfer, but will not Confidential treatment requested by WQN, Inc. be entitled to any priority given to the Private Limited Partners, their successors and assigns, in respect of the interest. No such Person person will have any right to participate in the management of the affairs of the Partnership or to vote with the Private Limited Partners, and the interest acquired by such Person person will be disregarded in determining whether any action has been taken by any percentage of the limited partnership interests. (d) Upon an event of withdrawal of the General Partner without continuation of the Partnership as provided in Section 8.04, the affairs of the Partnership will be wound up in accordance with the provisions of Section 8.02.

Withdrawal of the General Partner. (a) Upon the occurrence of an event of withdrawal (Except as defined provided in the Act) of Section 4.03 and Section 4.06, the General Partner that results in there being no General Partner, may not withdraw or resign as the Partnership shall not be dissolved, if, within ninety (90) days after such event of withdrawal of such General Partner, a Majority in Interest agree in writing to continue the business general partner of the Partnership and to without the appointment, effective as prior written consent of fifty-one percent (51%) in interest of the date of withdrawal of the General Partner, of one or more additional General Private Limited Partners. (b) Upon To the occurrence extent required by the SBIC Act, no transfer of an event of withdrawal the interest of the General Partner that results in there being no General Partner, or any portion of such interest, will be effective without continuation the consent of the Partnership as provided above, the affairs of the Partnership shall be wound up in accordance with the provisions of Section 6.02SBA. (c) Except as provided in Sections 6.04(a) and 8.01Section 8.03(b), Section 10.01(b), Section 10.01(d), or Section 10.01(f), any Person person who acquires the interest of the General Partner, or any portion of such interest, in the Partnership, will not be a General Partner but will become a special private limited partner (a “Special Private Limited Partner”) upon his its written acceptance and adoption of all the terms and provisions of this Agreement. Such Person person will acquire no more than the interest of the General Partner in the Partnership as it existed on the date of the transfer, but will not be entitled to any priority given to the Private Limited Partners, its successors and assigns, in respect of the interest. No such Person person will have any right to participate in the management of the affairs of the Partnership or to vote with the Private Limited Partners, and the interest acquired by such Person person will be disregarded in determining whether any action has been taken by any percentage of the limited partnership interests. (d) Upon an event of withdrawal of the General Partner without continuation of the Partnership as provided in Section 8.04, the affairs of the Partnership will be wound up in accordance with the provisions of Section 8.02.

Withdrawal of the General Partner. (a) Upon the occurrence of an event of withdrawal (Except as defined provided in the Act) of Section 4.03, the General Partner that results in there being no General Partner, may not withdraw as the Partnership shall not be dissolved, if, within ninety (90) days after such event of withdrawal of such General Partner, a Majority in Interest agree in writing to continue the business general partner of the Partnership and to without the appointment, effective as approval of a majority in interest of the date of withdrawal of the General Partner, of one or more additional General Private Limited Partners. (b) Upon To the occurrence extent required by the SBIC Act, no transfer of an event of withdrawal the interest of the General Partner that results in there being no General Partner, or any portion of such interest, will be effective without continuation the consent of the Partnership as provided above, the affairs of the Partnership shall be wound up in accordance with the provisions of Section 6.02SBA. (c) The General Partner shall not sell, assign, pledge, mortgage or otherwise dispose of its interest in the Fund. Without limitation to the preceding sentence and subject to approval of the SBA, the admission of new members of the General Partner or the transfer of interests in the General Partner will not be deemed to be a transfer or sale of the General Partner’s interest in the Fund. (d) Except as provided in Sections 6.04(aSection 8.03(b), Section 10.01(b), Section 10.01(d) and 8.01or Section 10.01(f), any Person person who acquires the interest of the General Partner, or any portion of such interest, in the Partnership, will not be a General Partner but will become a special private limited partner (a “Special Private Limited Partner”) upon his written acceptance and adoption of all the terms and provisions of this Agreement. Such Person person will acquire no more than the interest of the General Partner in the Partnership as it existed on the date of the transfer, but will not be entitled to any priority given to the Private Limited Partners, their successors and assigns, in respect of the interest. No such Person person will have any right to participate in the management of the affairs of the Partnership or to vote with the Private Limited Partners, and the interest acquired by such Person person will be disregarded in determining whether any action has been taken by any percentage of the limited partnership interests. (e) Upon an event of withdrawal of the General Partner without continuation of the Partnership as provided in Section 8.04, the affairs of the Partnership will be wound up in accordance with the provisions of Section 8.02.