Extension of Partnership Term Sample Clauses

Extension of Partnership Term. It is contemplated by the Partners that the term of the Partnership shall end on the Dissolution Date and that the Partnership shall be considered to be dissolved on such date without any further action being required by any of the Partners, unless sooner dissolved pursuant to Section 10.2 or by operation of law. Notwithstanding the foregoing, the term of the Partnership may be extended by the General Partner, with the prior written consent of the Advisory Board, for up to three (3) consecutive times, in each case for an additional one (1) year period.
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Extension of Partnership Term. The General Partner may extend the Partnership term for a single additional one (1) year period. During said extension period, the General Partner shall use its best efforts to convert the Partnership’s Nonmarketable Securities into Marketable Securities or cash, and all Securities that become Marketable Securities during such period, and all cash in excess of working capital requirements shall, subject to the Act, be promptly distributed to the Partners. During such period, the General Partner may (i) purchase additional Securities of an existing Portfolio Company if it deems such a purchase to be in the best interests of the Partnership and (ii) exchange the Securities of an existing Portfolio Company for other Securities.
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Extension of Partnership Term. If Borrower has not paid in full all of the Obligations prior to the date which is eighteen (18) months before the Maturity Date, Borrower shall extend the term of its existence until at least the second anniversary of the Maturity Date.
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Extension of Partnership Term. Upon or before the Termination Date, the General Partner may in its reasonable discretion by written notice to the Limited Partners extend the Partnership term for one additional one (1) year period, and upon the conclusion of such extension period, with the consent of the Advisory Committee, the General Partner may extend the Partnership term for a second additional one (1) year period, and upon the conclusion of this second one (1) year extension period, with the consent of a Majority in Interest of the Limited Partners, the General Partner may extend the Partnership term for additional one (1) year periods. During such one (1) year extension periods, the General Partner shall use its reasonable efforts to convert the Partnership’s Nonmarketable Securities into Marketable Securities or cash, and all Securities that become Marketable Securities during such period or periods shall be promptly distributed to the Partners. The General Partner shall not purchase the Securities of any new issuer in which the Partnership does not already hold an interest during such period; provided, however, that the General Partner may purchase additional Securities of a Portfolio Company if it deems such a purchase to be in the best interests of the Partnership. The management fee during any extension period shall be as set forth in Article 6.
Sample 1
Extension of Partnership Term. Upon the Termination Date, or such subsequent dates to which the Partnership term has previously been extended pursuant to this Section 10.1, the General Partner: (i) may extend the Partnership term for up to two (2) additional one (1) year periods, in the General Partner’s sole discretion. During any such extension periods, the General Partner shall use its reasonable efforts to convert the Partnership’s Non-marketable Securities into Marketable Securities or cash, and all Securities that become Marketable Securities during such period or periods shall be promptly distributed by the Partnership; provided, that the Limited Partner Representative must approve the value of any such Marketable Securities to be so distributed prior to their distribution. The General Partner shall not purchase the Securities of any new issuer in which the Partnership does not already hold an interest during such period; provided, however, that the General Partner may (a) purchase additional Securities of a portfolio company if it deems such a purchase to be in the best interests of the Partnership, and (b) exchange the Securities of a portfolio company for other Securities.
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Related to Extension of Partnership Term

  • Term of Partnership The term of the Partnership commenced on May 21, 2001 and shall continue until dissolved pursuant to Section 8.1 hereof. The legal existence of the Partnership as a separate legal entity continues until the cancellation of the Certificate.

  • Termination of Partnership The Partnership shall terminate when all assets of the Partnership, after payment of or due provision for all Liabilities of the Partnership, shall have been distributed to the Partners in the manner provided for in this Agreement, and the Certificate shall have been canceled in the manner provided by the Act.

  • Continuation of Partnership The Partners hereby continue the Partnership as a limited partnership pursuant to the provisions of the Act and upon the terms and conditions set forth in this Agreement. Except as expressly provided herein to the contrary, the rights and obligations of the Partners and the administration and termination of the Partnership shall be governed by the Act. The Partnership Interest of each Partner shall be personal property for all purposes.

  • Formation of Partnership The Managing GP, the Liquidation GP and the Limited Partner agreed to and formed a limited partnership pursuant to the laws of the Province of Ontario on October 5, 2007. The parties hereto have agreed to confirm their agreements relating to the Partnership on the terms and conditions set out in this Agreement. The Partnership will be effective as a limited partnership from October 5, 2007, the date on which the Declaration was filed in accordance with the LP Act, and the Partnership will file any documents necessary as a result of the amendments reflected in this Agreement.

  • Ratification of Partnership Agreement Except as expressly modified and amended herein, all of the terms and conditions of the Partnership Agreement shall remain in full force and effect.

  • Negation of Partnership Landlord shall not become or be deemed a partner or a joint venturer with Tenant by reason of the provisions of this Lease.

  • Termination of the Partnership The Partnership shall terminate when all assets of the Partnership, after payment or due provision for all debts, liabilities and obligations of the Partnership, shall have been distributed to the Partners in the manner provided for in this Article VIII, and the Certificate shall have been canceled in the manner required by the Act.

  • Amendment of Partnership Agreement Pursuant to Section 17-211(g) of the Delaware Act, an agreement of merger or consolidation approved in accordance with this Article XIV may (a) effect any amendment to this Agreement or (b) effect the adoption of a new partnership agreement for the Partnership if it is the Surviving Business Entity. Any such amendment or adoption made pursuant to this Section 14.5 shall be effective at the effective time or date of the merger or consolidation.

  • Effectiveness, Continuation, Termination and Amendment This Amended ------------------------------------------------------ and Restated Plan has been approved by a vote of the Board and its Independent Trustees and replaces the Fund's prior Distribution and Service Plan and Agreement for Class C shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with the Rule and thereafter from year to year or as the Board may otherwise determine but only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made under this Plan, without approval of the Class C Shareholders at a meeting called for that purpose and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by a vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 1940 Act) of the Fund's outstxxxxxx Xlass C voting shares. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

  • Dissolution of Partnership The Partnership shall be dissolved upon the expiration of its term or the earlier occurrence of any of the following events.

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