Examples of Outgoing Partner in a sentence
Such debt or liability shall be divided between the Continuing Partners and the Outgoing Partner (where relevant) in accordance with their respective shares of the profits at the time the debt or liability was incurred.
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.
The Outgoing Partner shall deliver to the Continuing Partners all books of account records, clients’ files and other documents in his possession relating to the Partnership but during the period of three years following the Outgoing Date the Outgoing Partner or his duly authorised agent shall be permitted to inspect by appointment books of account, records, letters and other documents of the Partnership so far as they relate to any period preceding the Outgoing Date.
Such interest shall, unless otherwise agreed by all the Continuing Partners accrue to the Continuing Partners in the proportions in which they are entitled inter se to the profits of the Partnership on the Outgoing Date (adjusted to exclude the Outgoing Partner for this purpose).
The Continuing Partners shall pay to the Outgoing Partner the undrawn balance of the Outgoing Partner's share of the net profits of the Partnership at the Outgoing Date as follows.
The Continuing Partners shall keep the Outgoing Partner and his estate and effects indemnified against all such debts and liabilities (save for those excluded as aforesaid) and all actions proceedings costs claims and demands in respect thereof.
Erica Dahl SavvyYears in Downtown: 1 Location: 1114 Pearl Street Web: savvyofboulder.com As a new business, Savvy has quick- ly established itself as a great addi- tion to the Pearl Street Mall.
Upon the successful arrangement by the LLP Manager with the Issuer and the dilution of shares in the Issuer held by the Partnership in relation to the Outgoing Partner, the Outgoing Partner shall cease to be a Partner in the Partnership.
If such excess is greater than the amount owed to the Outgoing Partner, the Outgoing Partner shall forthwith repay the balance to Partnership and until such repayment, it shall bear interest at 2 per cent per annum over the base rate for the time being of the Partnership’s bankers from the Outgoing Date.