Admission of Partners Sample Clauses

Admission of Partners. Section 12.1. Admission of Successor General Partner A successor to all of the General Partner's General Partner Interest pursuant to Section 11.2 who is proposed to be admitted as a successor General Partner shall be admitted to the Partnership as the General Partner, effective upon such transfer. Any such transferee shall carry on the business of the Partnership without dissolution. In each case, the admission shall be subject to the successor General Partner executing and delivering to the Partnership an acceptance of all of the terms and conditions of this Agreement and such other documents or instruments as may be required to effect the admission. In the case of such admission on any day other than the first day of a Partnership Year, all items attributable to the General Partner Interest for such Partnership Year shall be allocated between the transferring General Partner and such successor as provided in Article 11.
Admission of Partners. Section 12.1 Admission of a Successor General Partner A successor to all of the General Partner’s General Partner Interest pursuant to Section 11.2 who is proposed to be admitted as a successor General Partner shall be admitted to the Partnership as the General Partner, effective upon such transfer. Any such successor shall carry on the business of the Partnership without dissolution. In such case, the admission shall be subject to such successor General Partner executing and delivering to the Partnership an acceptance of all of the terms and conditions of this Agreement and such other documents or instruments as may be required to effect the admission.
Admission of Partners. Upon the consummation of the transfers and conveyances described in Section 5.2, the General Partner shall be the sole general partner of the Partnership and the MLP shall be the sole limited partner of the Partnership.
Admission of Partners. Section 10.1 [Reserved].
Admission of Partners. 39 Section 10.2 Admission of Substituted Limited Partner............................................. 40 Section 10.3 Admission of Additional Limited Partners............................................. 40 Section 10.4 Admission of Successor or Transferee General Partner................................. 40 Section 10.5 Amendment of Agreement and Certificate of Limited Partnership........................ 41 ARTICLE XI WITHDRAWAL OR REMOVAL OF PARTNERS......................................................... 41 Section 11.1 Withdrawal of the General Partner.................................................... 41 Section 11.2 Removal of the General Partner....................................................... 42 Section 11.3 Interest of Departing Partner........................................................ 43 Section 11.4 Withdrawal of a Limited Partner...................................................... 43
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Admission of Partners. 11.1 Admission of Initial Limited Partners and Other Creation Basket Purchases. Subject to the requirements of this Article 11, upon the issuance by the Partnership of Units to the Initial Limited Partner and any other purchasers of a Creation Basket, the General Partner shall admit the Initial Limited Partner and such other purchasers of the Creation Basket to the Partnership as Limited Partners in respect of the Units purchased.
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