Partnership Law definition
Examples of Partnership Law in a sentence
Notwithstanding any provision to the contrary contained in this Agreement, the Partnership, and the General Partner on behalf of the Partnership, shall not make a distribution to any Partner on account of his interest in the Partnership if such distribution would violate the Partnership Law or other applicable law.
Except as otherwise expressly provided herein or as required by law, all powers and authority vested in the General Partner by or pursuant to this Agreement or the Partnership Law shall be construed as being exercisable by the General Partner in its sole and absolute discretion.
In the event of a conflict between any provision of this Agreement and any non-mandatory provision of the Partnership Law, the provision of this Agreement shall control and take precedence.
The General Partner shall cause to be maintained at the principal office of the Partnership or at such other place as the Partnership Law may permit the Register of Partners which shall include such information as may be required by the Partnership Law.
The General Partner shall from time to time, update the Register of Partners as required by the Partnership Law to accurately reflect the information therein and no action of any partner shall be required to amend or update the Register of Partners.