Common use of Consequences of Withdrawal Clause in Contracts

Consequences of Withdrawal. (a) Upon the Withdrawal of any General Partner, the Withdrawn General Partner or his estate or legal representatives shall be entitled to receive from the Partnership (i) any positive balance in his or its Capital Account (as adjusted to the date of such Withdrawal), (ii) any amounts due and owing to it or him by the Partnership less any amounts due and owing by it or him to the Partnership, and (iii) the remaining balance, if any, of fees payable as and when due pursuant to this Agreement or any other written agreements between the Partnership and such General Partner in his capacity as General Partner; however, the Withdrawn General Partner shall not be entitled to any such fees which had not yet been earned by him prior to his Withdrawal. The right of a General Partner, his estate or legal representatives to payment of said amounts and fees shall be subject to any claim for damages which the Partnership or any Partner may have against such General Partner, his estate or legal representative if such Withdrawal is in A-27 contravention of this Agreement. Valuation of a Withdrawn General Partner's Interest shall be in accordance with the provisions of Section 13.4 hereof.

Consequences of Withdrawal. (a) Upon the Withdrawal of any General Partner, the Withdrawn General Partner or his estate or legal representatives shall be entitled to receive from the Partnership (i) any positive balance in his or its Capital Account (as adjusted to the date of such Withdrawal), (ii) any amounts due and owing to it or him by the Partnership less any amounts due and owing by it or him to the Partnership, and (iii) the remaining balance, if any, of fees payable as and when due pursuant to this Agreement or any other written agreements between the Partnership and such General Partner in his capacity as General Partner; however, the Withdrawn General Partner shall not be entitled to any such fees which had not yet been earned by him prior to his Withdrawal. The right of a General Partner, his estate or legal representatives to payment of said amounts and fees shall be subject to any claim for damages which the Partnership or any Partner may have against such General Partner, his estate or legal representative representatives if such Withdrawal is in A-27 contravention of this Agreement. Valuation of a Withdrawn General Partner's Interest shall be in accordance with the provisions of Section 13.4 hereof.

Consequences of Withdrawal. (a) Upon the Withdrawal of any General Partner, the Withdrawn General Partner or his estate or legal representatives shall be entitled to receive from the Partnership (i) any positive balance in his or its Capital Account (as adjusted to the date of such Withdrawal), (ii) any amounts due and owing to it or him by the Partnership less any amounts due and owing by it or him to the Partnership, and (iii) the remaining balance, if any, of fees payable as and when due pursuant to this Agreement or any other written agreements between the Partnership and such General Partner in his capacity as General Partner; however, the Withdrawn General Partner shall not be entitled to any such fees which had not yet been earned by him prior to his Withdrawal. The right of a General Partner, his estate or legal representatives to payment of said amounts and fees shall be subject to any claim for damages which the Partnership or any Partner may have against such General Partner, his estate or legal representative if such Withdrawal is in A-27 contravention of this Agreement. Valuation of a Withdrawn General Partner's Interest shall be in accordance with the provisions of Section 13.4 hereof.