Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDED, HOWEVER, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnership.
Appears in 9 contracts
Samples: Agreement (Education Realty Trust, Inc.), Contribution Agreement (Education Realty Trust, Inc.), Contribution Agreement (Education Realty Trust, Inc.)
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDED, HOWEVER, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners partner or all remaining members of such partnershippartners.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Presidential Realty Corp/De/), Capital Automotive Reit, Western Investment Real Estate Trust
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the -------- ------- date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners partner or all remaining members of such partnershippartners.
Appears in 4 contracts
Samples: Patriot American Hospitality Inc, Hudson Hotels Trust, Prentiss Properties Trust/Md
Removal of a General Partner. (a) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a general partner or the last remaining limited partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
Appears in 2 contracts
Samples: Notice and Agreement (Stirling Hotels & Resorts, Inc.), Ashford Hospitality Prime, Inc.
Removal of a General Partner. (aj) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a general partner or the last remaining limited partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
Appears in 2 contracts
Samples: Notice and Agreement (Ashford Hospitality Trust Inc), Notice and Agreement (Ashford Hospitality Trust Inc)
Removal of a General Partner. (ag) Upon the occurrence of an Event of Bankruptcy as to, or the dissolution of, a General Partner, such General Partner shall be deemed to be removed automatically; PROVIDEDprovided, HOWEVERhowever, that if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to or removal of a partner in such partnership shall be deemed not to be a dissolution of the General Partner if the business of such General Partner is continued within ninety (90) days by the remaining general partners or all remaining members of such partnershipPartnership.
Appears in 1 contract
Samples: Ashford Hospitality Trust Inc
