Common use of Notice of Resignation or Removal Clause in Contracts

Notice of Resignation or Removal. Written notice of the resignation or removal of the General Partner shall be given by the General Partner to the Limited Partners. Such notice shall set forth the day upon which the resignation or removal is to become effective, which date shall not be less than 90 days after such notice is given to the party or parties being notified, unless a substituted General Partner is elected pursuant to Section 12.5 of this Agreement.

Appears in 2 contracts

Sources: Agreement of Limited Partnership (HEALTHSOUTH of Toms River, Inc.), Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.)

Notice of Resignation or Removal. Written notice of the resignation or removal of the General Partner shall be given by the such General Partner to the Limited Partners, and written notice of the removal of the General Partner shall be given by the Limited Partners voting to remove the General Partner pursuant to Section 12.2.1 of this Agreement to all Partners. Such notice shall set forth the day upon which the resignation or removal is to become effective, which date in the case of resignation of the General Partner and in the case of removal pursuant to Section 12.2.1 of this Agreement shall not be less than 90 days after such notice is given to the party or parties being notified, unless a substituted successor General Partner is elected pursuant to Section 12.5 12.6 of this Agreement.

Appears in 1 contract

Sources: Limited Partnership Agreement (PHC Hospitals, LLC)