Required/Elective Withdrawals Sample Clauses

Required/Elective Withdrawals. The Managing General Partner may require a Limited Partner to withdraw from the Partnership if (i) in the reasonable judgment of the Managing General Partner based upon an opinion of counsel to the Partnership, by virtue of that Limited Partner’s Partnership Interest, the Partnership or any Partner is reasonably likely to be subject to any requirement to register under the Investment Company Act, or (ii) in the reasonable judgment of the Managing General Partner, a significant delay, extraordinary expense or material adverse effect on the Partnership or any of its Affiliates, any Fund Entity or any prospective investment is likely to result from the retention by such Limited Partner of a Partnership Interest. Notice of any such withdrawal shall be given to all Limited Partners as well as a copy of the opinion of counsel referred to above in the case of a withdrawal pursuant to clause (i) above. Withdrawals pursuant to this Section 10.7 will be effected by the Partnership’s redeeming the Units held by such Limited Partner at the Current Unit Value, with the redemption price being payable by a promissory note having a term of not more than three years and bearing interest at the Prime Rate.
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Required/Elective Withdrawals. (a) A Limited Partner may be required to withdraw from the Partnership if (i) in the reasonable judgment of the General Partner based upon an opinion of counsel to the Partnership, by virtue of that Limited Partner’s Interest in the Partnership, the assets of the Partnership would be reasonably likely to be characterized as assets of any employee benefit plan for purposes of ERISA or the Code, or the Partnership or any Partner is reasonably likely to be subject to any requirement to register under the 1940 Act or (ii) in the reasonable judgment of the General Partner, a significant delay, extraordinary expense or material adverse effect on the Partnership or any of its Affiliates, any Person in which the Partnership holds Investments or any prospective investment is likely to result without such withdrawal.
Sample 1Sample 2
Required/Elective Withdrawals. The General Partner may require a Limited Partner to withdraw from the Partnership if (i) in the reasonable judgment of the General Partner based upon an opinion of counsel to the Partnership, by virtue of that Limited Partner’s Partnership Interest, the Partnership or any Partner is reasonably likely to be subject to any requirement to register under the Investment Company Act, (ii) in the reasonable judgment of the General Partner, a significant delay, extraordinary expense or material adverse effect on the Partnership or any of its Affiliates or any prospective investment is likely to result from the retention by such Limited Partner of a Partnership Interest or (iii) in the reasonable judgment of the General Partner based upon an opinion of counsel to the Partnership, by virtue of that Limited Partner’s Partnership Interest, the Partnership or the Trust is reasonably likely to fail to meet the REIT Requirements. Notice of any such withdrawal shall be given to the affected Limited Partner as well as a copy of the opinion of counsel referred to above in the case of a withdrawal pursuant to clause (i) or (iii) above. Withdrawals pursuant to this Section 10.5 will be effected by the Partnership’s redeeming the OP Units held by such Limited Partner at the Current Unit Value, with the redemption price being payable by a promissory note having a term of not more than three years and bearing interest at the Prime Rate.
Sample 1Sample 2
Required/Elective Withdrawals. (a) A Limited Partner may be required to completely or partially withdraw from the Partnership if (i) in the reasonable judgment of the General Partner, a material adverse effect on the Partnership or any of its Affiliates, any Partner, any Person in which the Partnership holds Investments or any prospective investment is likely to result absent such withdrawal (ii) the Partnership or any Partner is reasonably likely to be subject to any requirement to register under the 1940 Act or the assets of the Partnership would be reasonably likely to be characterized as assets of an employee benefit plan or other retirement plan, account or arrangement and subject the Partnership and/or the General Partner (or other persons responsible for the investment and operation of the Partnership’s assets) to (a) the fiduciary responsibility or prohibited transactions provisions contained in Title I of ERISA or Section 4975 of the Code or (b) any applicable Similar Law or (iii) in the reasonable judgment of the General Partner, a significant delay, extraordinary expense or a material adverse effect on the Partnership or any of its Affiliates, any Person in which the Partnership holds Investments or any prospective investment is likely to result. Notice of any such withdrawal shall be given to all Limited Partners as well as a copy of the opinion of counsel referred to above in the case of a withdrawal pursuant to clause (ii) above.
Sample 1
Required/Elective Withdrawals. (a) A Limited Partner may be required to completely or partially withdraw from the Partnership if in the reasonable judgment of the General Partner based upon an opinion of counsel to the Partnership, by virtue of that Limited Partner’s Interest in the Partnership, the assets of the Partnership would be reasonably likely to be characterized as assets of an employee benefit plan for purposes of ERISA, Section 4975 of the Code or any applicable Similar Law, whether or not such Limited Partner is subject to ERISA, Section 4975 of the Code or any Similar Law or the Partnership or any Partner is reasonably likely to be subject to any requirement to register under the 1940 Act. The General Partner hereby agrees that for so long as (i) the Special Limited Partner is not subject to ERISA, Section 4975 of the Code or any Similar Law and (ii) the Special Limited Partner and each of its beneficial owners is a “qualified purchaser” as provided in Section 2(a)(51)(C) of the 1940 Act and the rules and regulations thereunder, the Special Limited Partner shall not be required to completely or partially withdraw from the Partnership pursuant to this Section 8.6(a).
Sample 1
Required/Elective Withdrawals. (a) A Limited Partner may be required to withdraw partially or completely from the Partnership if (i) in the reasonable judgment of the General Partner based upon an opinion of counsel to the Partnership, by virtue of that Limited Partner’s Interest in the Partnership, the assets of the Partnership would be reasonably likely to be characterized as assets of an employee benefit plan for purposes of the Plan Asset Rules or ERISA, whether or not such Limited Partner is subject to ERISA, Section 4975 of the Code, or any applicable similar law, or the Partnership or any Partner is reasonably likely to be subject to any requirement to register under the 1940 Act, or (ii) in the reasonable judgment of the General Partner, a significant delay, extraordinary expense or material adverse effect on the Partnership or any of its Affiliates, any Person in which the Partnership holds Investments or any prospective investment is likely to result without such withdrawal.‌
Sample 1

Related to Required/Elective Withdrawals

  • Permissible Withdrawals The Servicer may make withdrawals from each related Custodial P&I Account solely for the following:

  • In-Service Withdrawals If elected in the Adoption Agreement, an Employer may elect to permit a Participant in the Plan to make an in-service withdrawal, subject to any limitation(s) specified in the Adoption Agreement.

  • Hardship Withdrawals Hardship withdrawals, as provided for in paragraph 6.9 of the Basic Plan Document #04, [X] are [ ] are not permitted.

  • Plan Withdrawals The Borrower or any member of the Controlled Group as employer under a Multiemployer Plan shall have made a complete or partial withdrawal from such Multiemployer Plan and the plan sponsor of such Multiemployer Plan shall have notified such withdrawing employer that such employer has incurred a withdrawal liability in an annual amount exceeding $1,000,000;

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Partial Withdrawals At any time any Holder shall be entitled to request a withdrawal of such portion of the Interest held by such Holder as such Holder shall request.

  • Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Servicer only:

  • Deposits and Withdrawals Each person when depositing such securities or similar investments in or withdrawing them from a Securities Depository or when ordering their withdrawal and delivery from the safekeeping of the Custodian, shall comply with the requirements of Rule 17f-2(e).

  • Rollover Contributions Generally, a rollover is a movement of cash or assets from one retirement plan to another. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Both the distribution and the rollover contribution are reportable when you file your income taxes. You must irrevocably elect to treat such contributions as rollovers. IRA-to-IRA Rollover: You may withdraw, tax free, all or a portion of your Traditional IRA if you contribute the amount withdrawn within 60 days from the date you receive the distribution into the same or another Traditional IRA as a rollover. To complete a rollover of a SIMPLE IRA distribution to your Traditional IRA, at least two years must have elapsed from the date on which you first participated in any SIMPLE IRA plan maintained by the employer, and you must contribute the distribution within 60 days from the date you receive it. Only one IRA distribution within any 12-month period may be rolled over in an IRA-to-IRA rollover transaction. The 12-month waiting period begins on the date you receive an IRA distribution that you subsequently roll over, not on the date you complete the rollover transaction. If you roll over the entire amount of an IRA distribution (including any amount withheld for federal, state, or other income taxes that you did not receive), you do not have to report the distribution as taxable income. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents basis) and may be, if you are under age 59½, subject to the premature distribution penalty tax. Employer Retirement Plan-to-Traditional IRA Rollover (by Traditional IRA Owner): Eligible rollover distributions from qualifying employer retirement plans may be rolled over, directly or indirectly, to your Traditional IRA. Qualifying employer retirement plans include qualified plans (e.g., 401(k) plans or profit sharing plans), governmental 457(b) plans, 403(b) arrangements and 403(a) arrangements. Amounts that may not be rolled over to your Traditional IRA include any required minimum distributions, hardship distributions, any part of a series of substantially equal periodic payments, or distributions consisting of Xxxx 401(k) or Xxxx 403(b) assets. To complete a direct rollover from an employer plan to your Traditional IRA, you must generally instruct the plan administrator to send the distribution to your Traditional IRA Custodian. To complete an indirect rollover to your Traditional IRA, you must generally request that the plan administrator make a distribution directly to you. You typically have 60 days from the date you receive an eligible rollover distribution to complete an indirect rollover. Any amount not properly rolled over within the 60-day period will generally be taxable in the year distributed (except for any amount that represents after-tax contributions) and may be, if you are under age 59½, subject to the premature distribution penalty tax. If you choose the indirect rollover method, the plan administrator is typically required to withhold 20% of the eligible rollover distribution amount for purposes of federal income tax withholding. You may, however, make up the withheld amount out of pocket and roll over the full amount. If you do not make up the withheld amount out of pocket, the 20% withheld (and not rolled over) will be treated as a distribution, subject to applicable taxes and penalties. Conduit IRA: You may use your IRA as a conduit to temporarily hold amounts you receive in an eligible rollover distribution from an employer’s retirement plan. Should you combine or add other amounts (e.g., regular contributions) to your conduit IRA, you may lose the ability to subsequently roll these funds into another employer plan to take advantage of special tax rules available for certain qualified plan distribution amounts. Consult your tax advisor for additional information. Employer Retirement Plan-to-Traditional IRA Rollover (by Inherited Traditional IRA Owner): Please refer to the section of this document entitled “Inherited IRA”. Traditional IRA-to-Employer Retirement Plan Rollover: If your employer’s retirement plan accepts rollovers from IRAs, you may complete a direct or indirect rollover of your pre-tax assets in your Traditional IRA into your employer retirement plan. If you are required to take minimum distributions because you are age 70½ or older, you may not roll over any required minimum distributions. Rollover of Exxon Xxxxxx Settlement Income: Certain income received as an Exxon Xxxxxx qualified settlement may be rolled over to a Traditional IRA or another eligible retirement plan. The amount contributed cannot exceed the lesser of $100,000 (reduced by the amount of any qualified settlement income contributed to an eligible retirement plan in prior tax years) or the amount of qualified settlement income received during the tax year. Contributions for the year can be made until the due date for filing your return, not including extensions.

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

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