Disabling Event definition

Disabling Event means the General Partner ceasing to be the general partner of the Partnership pursuant to Section 17-402 of the Act.

Disabling Event means (a) the withdrawal of the General Partner, other than in accordance with Section 6.4(a) or (b) if the General Partner (i) makes an assignment for the benefit of its creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent or has entered against it an order for relief in any bankruptcy or insolvency proceeding, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in a proceeding described in clause (iv), or (v) seeks consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the General Partner or of all or substantially all of its properties.

Disabling Event means either the death, or the continuation of any Disability, of MD.

Examples of Disabling Event in a sentence

• The General Partner or, if there is no general partner or the dissolution results from the occurrence of a Disabling Event, a liquidator appointed by UST, shall proceed with the Dissolution Sale and the Final Distribution.

• The General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event, and thereafter, except as required by applicable law, the removed General Partner shall not have any of the powers, obligations or liabilities of a general partner of the Partnership under this Agreement or under applicable law.

• The General Partner shall promptly notify UST and SIGTARP of the occurrence of any Disabling Event of which it has knowledge.

• The General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event, and thereafter, except as required by applicable law, neither the General Partner nor its successors in interest shall have any of the powers, obligations or liabilities (save as regard any obligation or liability arising prior to or as a consequence of such Disabling Event) of a general partner of the Partnership under this Agreement or under applicable law.

• The General Partner or, if there is no general partner or the dissolution results from the occurrence of a Disabling Event pursuant to Section 8.1(b), a liquidator appointed by a Majority in Interest of the Limited Partners shall proceed with the Dissolution Sale and the Final Distribution.

More Definitions of Disabling Event

Disabling Event means the Managing Member ceasing to be the Managing Member of the Company.

Disabling Event means either the death, or the continuation of any disability, of MD. For this purpose, “disability” means any physical or mental disability or infirmity that prevents the performance of MD’s duties as a director or Chief Executive Officer of the Company for a period of one hundred eighty (180) consecutive days.

Disabling Event. Other than as permitted by Section 7.1(a) or pursuant to a removal and replacement of the General Partner as provided in Section 7.1(b), the sale, assignment, pledge, exchange or transfer of all or any portion of the General Partner’s Interest, or the withdrawal, bankruptcy, commencement of liquidation proceedings, insolvency or dissolution and commencement of winding up of the General Partner.

Disabling Event shall have the meaning set forth in the Partnership Agreement. “Disposition” shall mean with respect to any Property, any sale, lease, sale and leaseback,

Disabling Event means with respect to a Person the death, incapacity, adjudication of incompetency, bankruptcy, dissolution, liquidation, resignation, withdrawal or removal of such Person.

Disabling Event means an event where the General Partner ceases to be the general partner of the Partnership upon the happening of any of the following:

Disabling Event means the General Partner ceasing to be the general partner of the Partnership pursuant to Section 17-402 of the Act. “Dissolution Event” has the meaning set forth in Section 9.02 of this Agreement.