Remaining Partners definition
Examples of Remaining Partners in a sentence
That any Partner intending to retire from the Partnership shall do so by serving on other Partners a notice in writing of three months duration disclosing such intention to retire and the Partner giving such notice shall be deemed to have retired from the Partnership on the expiry of such notice and business shall be taken over by the 'Remaining Partners'.
In the event that the General Partner withdraws from the Partnership, in violation of this Agreement or otherwise, or otherwise dissolves or terminates, or upon the bankruptcy of the General Partner, a Majority of Remaining Partners may elect to continue the Partnership business by selecting a successor General Partner in accordance with the Act.
The Purchasers, jointly and severally, represent and warrant to Live Nation that all of the underlying facts and information, including the information related to the ownership of the Remaining Partners and the Purchasers, contained in the HSR Analysis are true and correct.
Notwithstanding anything herein to the contrary, in the event the Purchasing Partners fail to elect to purchase all of the Offered Interest, they shall not have the right to purchase any part of the same hereunder and Managing Partner shall notify the Selling Party of the Remaining Partners' election not to purchase the Offered Interest.
If the Remaining Partners neither consent to the sale of the Transferring Partner's Partnership Interest nor open the escrow account, the Remaining Partners shall be deemed to have authorized the sale of the Transferring Partner's Interest pursuant to terms no less favorable to the Transferring Partner than those set forth in the Offering Notice.