Examples of Administrative General Partner in a sentence
No Partner is required to make additional capital contributions, however, if the Partners Approve the making of additional contributions to the Partnership, the Partners shall contribute to the Partnership an amount equal to such Partner’s Residual Percentage share of the additional capital being contributed (unless Limited Partners and Administrative General Partner agree to modify such percentages).
If the Partnership is dissolved, then the Administrative General Partner shall proceed without any unnecessary delay to sell or otherwise liquidate all property of the Partnership.
As soon as practicable after the termination of the Partnership, the Administrative General Partner shall cause a certificate of cancellation to be filed with the Delaware Secretary of State.
The Administrative General Partner shall have authority to distribute any Partnership property discovered after dissolution, convey real estate, and take such other action as may be necessary on behalf of and in the name of the Partnership.
Each Partner or its duly authorized representative shall have the right to inspect, examine, and copy, and audit such books and records of account (and audit internal systems and procedures of Administrative General Partner) at the Partnership’s office during reasonable business hours.