Term of Partnership Sample Clauses
The 'term-of-partnership' clause defines the duration for which a partnership agreement remains in effect. It typically specifies whether the partnership is established for a fixed period, until the completion of a particular project, or continues indefinitely until dissolved by the partners. For example, the clause may state that the partnership will last for five years or until a certain business goal is achieved. This clause provides clarity and certainty regarding the expected lifespan of the partnership, helping partners plan for the future and understand the conditions under which the partnership may end.
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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.
Term of Partnership. The term of the Partnership shall commence on the date of this Agreement and shall continue until terminated in accordance with Section 6.
Term of Partnership. It is understood that this Agreement shall be in effect until completion of construction activities at the Project, but in no case longer than three years. Should any “signatory” stakeholder choose to withdraw prior to Project’s completion, a written notice shall be given stating the reason(s) and providing 30 days notice to the other party(s). If OSHA chooses to withdraw its participation in the Partnership, the entire Partnership is terminated. Any party may also propose modification or amendment of the Agreement. Changes may be implemented, if all parties are in agreement that they are in the best interest of the Partnership.
Term of Partnership. The term of the Partnership commenced as of the date of filing the Certificate and shall continue until the Partnership shall be dissolved, liquidated and terminated pursuant to the provisions of Article 8.
Term of Partnership. (a) The term of the Partnership shall continue until the first to occur of the following, which occurrence will cause the commencement of the winding up of the Partnership:
(i) the completion of the winding up, termination and dissolution (without continuation) of the Funds;
(ii) at any time there are no Limited Partners, unless the business of the Partnership is continued in accordance with the Partnership Act;
(iii) any event that results in the General Partner ceasing to be a general partner of the Partnership under the Partnership Act, provided, that the Partnership shall not be dissolved and required to be wound up in connection with any such event if (A) at the time of the occurrence of such event there is at least one remaining general partner of the Partnership who is hereby authorized to and does carry on the business of the Partnership, or (B) within 90 days after the occurrence of such event, a majority of the Limited Partners agree in writing or vote to continue the business of the Partnership and to the appointment, effective as of the date of such event, if required, of one or more additional general partners of the Partnership; and
(iv) the Grand Court of the Cayman Islands granting an order for the winding up of the Partnership pursuant to Section 36(3) of the Partnership Act.
(b) The parties agree that irreparable damage would be done to the goodwill and reputation of the Partners if any Limited Partner should bring an action to wind-up the Partnership. Care has been taken in this Agreement to provide for fair and just payment in liquidation of the interests of all Partners. Accordingly, to the fullest extent permitted by law, each Limited Partner ▇▇▇▇▇▇ ▇▇▇▇▇▇ and renounces his right to such an order or to seek the appointment of a liquidator for the Partnership, except as provided herein.
Term of Partnership. The Partnership shall commence as of the date of this Agreement and shall continue until this Agreement is dissolved as provided herein.
Term of Partnership. The term of the Partnership shall commence on the date on which the Certificate is filed with the Secretary of State of Delaware and shall continue until dissolved pursuant to Section 8.1 hereof (unless its term is extended pursuant to Section 8.1).
Term of Partnership. The term of the Partnership has commenced and shall continue until December 31, 2094, unless earlier dissolved pursuant to the terms of Section 18 hereof or by operation of law.
Term of Partnership. The Partnership commenced upon the filing of its Certificate of Limited Partnership, and shall continue until terminated as provided in Section 9.1.
Term of Partnership. The term of the Partnership commenced on and shall continue for a period of thirty (30) years unless sooner dissolved as hereinafter provided.