Common use of Partnership Meetings Clause in Contracts

Partnership Meetings. Meetings of Unitholders may be called by the General Partners or the Liquidator or by Unitholders holding at least 10% of the outstanding Units. Any Unitholder calling a meeting shall specify the number of Units as to which the Unitholder is exercising the right to call a meeting, and only those Units shall be counted for the purpose of determining whether the 10% standard of the preceding sentence has been met. Unitholders shall call a meeting by delivering a notice to the Partnership stating that the signing Unitholders wish to call a meeting and indicating the specific purposes for which the meeting is to be called. Action at the meeting shall be limited to those matters specified in such notice, and no Unitholder may propose, at such meeting, any other matter to be considered by the Unitholders. Within 60 days after receipt of such a notice from Unitholders or within such greater time as may be reasonably necessary for the Partnership to comply with any statutes, rules, regulations, listing agreements or similar requirements governing the holding of a meeting or the solicitation of proxies for use at such a meeting, the Partnership shall send a notice of the meeting to the Unitholders, stating the specific purposes for which the meeting is called. A meeting shall be held at a reasonable time and convenient place determined by the General Partners or the Liquidator, as the case may be, on a date not more than 60 days after the mailing of notice of the meeting. No action shall be taken at a meeting which is opposed by the General Partners or the Liquidator unless the Partnership has received a Limited Liability Opinion, a Tax Opinion and an Assignment Opinion with respect to such action.

Partnership Meetings. Meetings of Unitholders may be called by the General Partners or the Liquidator or by Unitholders holding at least 10% of the outstanding Units. Any Unitholder calling a meeting shall specify the number of Units as to which the Unitholder is exercising the right to call a meeting, and only those Units shall be counted for the purpose of determining whether the 10% standard of the preceding sentence has been met. Unitholders shall call a meeting by delivering a notice to the Partnership one or more notices in writing stating that the signing Unitholders wish to call a meeting and indicating the specific purposes for which the meeting is to be called. Action at the meeting shall be limited to those matters specified in such noticethe notice of the meeting, and no Unitholder may propose, at such meeting, any other matter to be considered by the Unitholders. Within 60 days after receipt of such a notice from Unitholders or within such greater time as may be reasonably necessary for the Partnership to comply with any statutes, rules, regulations, listing agreements or similar requirements governing the holding of a meeting or the solicitation of proxies for use at such a meeting, the Partnership shall send a notice of the meeting to the Unitholders, stating the specific purposes for which the meeting is called. A meeting shall be held at a reasonable time and convenient place determined by the General Partners or the Liquidator, as the case may be, on a date not more than 60 days after the mailing of notice of the meeting. No action shall be taken at a any meeting which is opposed by the General Partners or the Liquidator unless the Partnership has received a Limited Liability Opinion, a Tax Opinion and an Assignment Opinion with respect to such action.