Withdrawal or Resignation by a Limited Partner. So long as a Limited Partner continues to own or hold any Units, such Limited Partner shall not have the ability to withdraw or resign as a Limited Partner prior to the dissolution and winding up of the Partnership and any such withdrawal, resignation, attempted withdrawal or attempted resignation by a Limited Partner prior to the dissolution and winding up of the Partnership shall be null and void. As soon as any Person who is a Limited Partner ceases to own or hold any Units, such Person shall no longer be Limited Partner.
Appears in 3 contracts
Samples: Limited Liability Limited Partnership Agreement (Ladder Capital Finance Holdings LLLP), Limited Liability Limited Partnership Agreement (Ladder Capital Corp), Limited Liability Limited Partnership Agreement (Ladder Capital Finance Corp)
Withdrawal or Resignation by a Limited Partner. So long as a Limited Partner continues to own or hold any Units, such Limited Partner shall not have the ability to withdraw or resign as a Limited Partner prior to the dissolution and winding up of the Partnership and any such withdrawal, resignation, attempted withdrawal or attempted resignation by a Limited Partner prior to the dissolution and winding up of the Partnership shall be null and void. A Limited Partner may elect to forfeit its Units, in whole or in part, at any time for no consideration. As soon as any Person who is a Limited Partner ceases to own or hold any Units, such Person shall no longer be a Limited Partner.
Appears in 1 contract
Samples: Limited Partnership Agreement (Newtek Business Services Corp.)
