Examples of Limited Partnership Resolution in a sentence
Upon the occurrence of a dissolution of the Limited Partnership, the General Partner (or any other Person as may be appointed by a Limited Partnership Resolution) will serve as the receiver of the Limited Partnership, provided that if the General Partner is unable or unwilling to act in such capacity, the Limited Partner will appoint some other appropriate person or party to act as the receiver of the Limited Partnership by a Limited Partnership Resolution.
The Limited Partnership will not be dissolved except by Limited Partnership Resolution.
When requested by one or more Limited Partners, a poll shall be taken on any Limited Partnership Resolution.
Upon the occurrence of a dissolution of the Limited Partnership, the General Partner (or any other Person as may be appointed by a Limited Partnership Resolution) will serve as the receiver of the Limited Partnership, provided that if the General Partner is unable or unwilling to act in such capacity, the Limited Partners will appoint some other appropriate Person or party to act as the receiver of the Limited Partnership by a Limited Partnership Resolution.
If any such action is settled by the General Partner, the action will be deemed for the purposes of this Section to have been unsuccessfully defended, unless the settlement is approved by Limited Partnership Resolution.
Every question submitted to a meeting, unless otherwise specified, shall be decided by Limited Partnership Resolution on a show of hands.
The General Partner shall not be entitled to borrow on behalf of the Limited Partnership, or on its own behalf, or to grant Encumbrances against any of the assets of the Limited Partnership unless approved by Limited Partnership Resolution.
Each Fiscal Year of the Limited Partnership shall end on December 31 or such other date as shall be determined by Limited Partnership Resolution, provided that in the year in which the Limited Partnership is dissolved the Fiscal Year of the Limited Partnership shall end on the date of dissolution.
This document will describe the rights and responsibilities of all partners as well as their share of any profits.3. Limited Partnership Resolution (enclosed) – Complete this form if you are a partnership to verify your partnership status and to list partners and to designate specific powers granted to some or all of the partners.4. Tax I.D. assignment verification from the I.R.S. **5.
At any meeting of the Limited Partners on a matter voted upon for which no poll is requested, a declaration made by the chairman of the meeting as to the voting on any particular Limited Partnership Resolution shall be conclusive evidence thereof.