Common use of Deemed Withdrawal Clause in Contracts

Deemed Withdrawal. A Partner shall be deemed to have Withdrawn from the Partnership immediately, without any further action on the part of such Partner or the Partnership, only on the occurrence of any event (i) that makes it unlawful for the Partner to continue to be a Partner, (ii) that makes it unlawful for the Partnership to carry on the Partnership Business with that Partner or (iii) specified in Section 15-601(6) of the Act. A Partner shall not be deemed to have Withdrawn from the Partnership for any events not specified in Section 4.1 or this Section 4.2.

Deemed Withdrawal. A Partner shall be deemed to have Withdrawn from the Partnership immediately, without any further action on the part of such Partner or the Partnership, only on the occurrence of any event (i) that makes it unlawful for the Partner to continue to be a PartnerPartner in the Partnership, (ii) that makes it unlawful for the Partnership to carry on the business of the Partnership Business with that Partner or (iii) specified in Section 15-601(6) of the Delaware Act. A Partner shall not be deemed to have Withdrawn from the Partnership for any events not specified in Section 4.1 9.3 or this Section 4.29.4.