Examples of Continuing Partners in a sentence
In the event of any reallocation of Common Units to the Continuing Partners, the General Partner shall determine in its sole discretion the class and series of Common Units to which each such Common Unit shall belong upon its reallocation, notwithstanding anything to the contrary in any Partner Agreement entered into prior to the date hereof.
In connection with any other reallocation of Common Units that is being made proportionately to all Continuing Partners under the Limited Partnership Agreement, the Limited Partner will participate in his proportionate share of such reallocation based on the number of Common Units he and his Related Trusts own as of the Reallocation Date.
Subject to Clause [14(b)] of the Deed, the share and interest of the Outgoing Partner in the Partnership, including the capital, goodwill, Partnership name and other assets thereof shall accrue to the Continuing Partners without the Outgoing Partner his personal representatives trustee in bankruptcy, the official assignee in bankruptcy or any other person being entitled to any part thereof or share or interest therein or save in accordance with this Schedule to any payment in respect of thereof.
A person becoming an Outgoing Partner, whether by death, bankruptcy, retirement, expulsion or otherwise, or a person joining the Partnership, shall not determine the partnership as between the Continuing Partners.
Save in the case of a General Dissolution under Clause [23(a)], this Partnership shall dissolve only as between the Continuing Partners and the Outgoing Partner(s) and shall continue in accordance with the provisions of this Deed between the Continuing Partners.