Adverse Terminating Event definition

Adverse Terminating Event shall have the meaning set forth in Section 4.3. “Agreement” shall mean this Operating Agreement as it may be amended, supplemented, or restated from time to time.

Adverse Terminating Event means, with respect to any Class C Limited Partner, any Class B Limited Partner or any person who owns an interest in a Qualified P.C. or a Qualified Retirement Plan which is a Class B Limited Partner, any of the following: 1. The Class C Limited Partner, the Class B Limited Partner or person who owns an interest in a Qualified P.C. or a Qualified Retirement Plan which is a Class B Limited Partner has breached the terms and conditions of this Agreement, including without limitation, violating the restrictions with respect to ownership of an interest in a Competing Business as set forth in Article 11 or the transfer restrictions set forth in Article 5, as determined in the reasonable discretion of the General Partner; or 2. The Class C Limited Partner, the Class B Limited Partner or such person who owns an interest in a Qualified P.C. or a Qualified Retirement Plan which is a Class B Limited Partner has disrupted the affairs of the Partnership or has acted adversely to the best interests of the Partnership, as determined in the reasonable discretion of the General Partner.

Adverse Terminating Event means, with respect to any Limited Partner, either of the following:

Examples of Adverse Terminating Event in a sentence

• Notwithstanding anything to the contrary in this Agreement, the failure of a Limited Partner to notify the Partnership of the occurrence of a Terminating Event as required under this Section 14.2(a) shall not constitute the occurrence of an Adverse Terminating Event.

• Notwithstanding anything to the contrary in this Agreement, the failure of a Limited Partner to notify the Partnership of the occurrence of a Terminating Event as required under this Section 13.2(a) shall not constitute the occurrence of an Adverse Terminating Event.

• Notwithstanding anything to the contrary in this Agreement, the failure of a Limited Partner to notify the Partnership of the occurrence of a Terminating Event as required under this Section 13.3(a) shall not constitute the occurrence of an Adverse Terminating Event.

• Notwithstanding anything to the contrary in this Agreement, the failure of a Class C Limited Partner or a Class B Limited Partner to notify the Partnership of the occurrence of a Terminating Event as required under this Section 7.2.1 shall not constitute the occurrence of an Adverse Terminating Event.

• In the event of an Involuntary Transfer that was an Adverse Terminating Event as to a portion of a Member’s Interest, a Member may retain any Interest not the subject of the Transfer.

More Definitions of Adverse Terminating Event

Adverse Terminating Event means with respect to any Member or any Interest any of the following events, circumstances or occurrences:

Adverse Terminating Event means, with respect to any Class A Limited Partner, any of the following: (a) The Class A Limited Partner has breached the terms and conditions of this Agreement, including without limitation, violating the transfer restrictions set forth in this Agreement, as determined in the sole reasonable discretion of the General Partner; or (b) The Class A Limited Partner has materially and maliciously either (i) disrupted the affairs of the Partnership, or (ii) acted adversely to the best interests of the Partnership, as determined in the sole reasonable discretion of the General Partner.

Adverse Terminating Event means, with respect to any Limited Partner (other than BHH or any IASIS Affiliate) or a person who owns an interest in a P.A. or P.C. which is a Limited Partner, any of the following: (a) The Limited Partner or a person who owns an interest in a P.A. or P.C. which is a Limited Partner has breached the terms and conditions of this Agreement, including without limitation, violating the transfer restrictions set forth in Article 12, as determined in the reasonable discretion of the General Partner; or (b) The Limited Partner, or a person who owns an interest in a P.A. or P.C. which is a Limited Partner, has disrupted the affairs of the Partnership or has acted adversely to the best interests of the Partnership, as determined in the reasonable discretion of the General Partner.

Adverse Terminating Event means, with respect to any Class A Member or Class C Member, any of the following:

Adverse Terminating Event means, with respect to any Class A or Class C Limited Partner (other than Columbia or any Columbia Affiliate, and other than Bartow or any Bartow Affiliate), any of the following: (a) The Class A or Class C Limited Partner has breached the terms and conditions of this Agreement, including, without limitation, violating the transfer restrictions set forth in Article 13. as determined in the sole reasonable discretion of the General Partner; or (b) The Class A or Class C Limited Partner has disrupted the affairs of the Partnership or has acted adversely to the best interests of the Partnership, as determined in the sole reasonable discretion of the General Partner.

Adverse Terminating Event means, with respect to any Limited Partner (other than Columbia or any Columbia Affiliate) or a person who owns an interest in a P.A. which is a Limited Partner, any of the following: (a) The Limited Partner or a person who owns an interest in a P.A. which is a Limited Partner has breached the terms and conditions of this Agreement, including without limitation, violating the restrictions with respect to ownership of an interest in a Competing Business as set forth in Article 10 or the transfer restrictions set forth in Article l3, as determined in the reasonable discretion of the General Partner; or (b) The Limited Partner or a person who owns an interest in a P.A. which is a Limited Partner has disrupted the affairs of the Partnership or has acted adversely to the best interests of the Partnership, as determined in the reasonable discretion of the General Partner.

Adverse Terminating Event means, with respect to any Limited Partner, the Limited Partner has breached the terms and conditions of this Agreement, including without limitation, violating the transfer restrictions set forth in Article 13 hereof, as determined in the reasonable discretion of the General Partner.