Withdrawal, Death, etc Sample Clauses

Withdrawal, Death, etc of Members.
Sample 1Sample 2Sample 3See All (19)
AutoNDA by SimpleDocs
Withdrawal, Death, etc. The incapacity, death, withdrawal, dissolution, or the filing for dissolution of: (i) any Credit Party; or (ii) any controlling shareholder, partner, or member of any Credit Party.
Sample 1Sample 2Sample 3See All (18)
Withdrawal, Death, etc. The incapacity, death, withdrawal, dissolution, or the filing for dissolution of: any Credit Party.
Sample 1
Withdrawal, Death, etc of Limited Partner. -------------------------------------------
Sample 1Sample 2
Withdrawal, Death, etc. OF GENERAL PARTNER. The General Partner may, upon 30 days' prior notice, withdraw from the Partnership at the end of any fiscal year commencing with the first fiscal year of the Partnership. The withdrawal, death or insanity of the General Partner shall dissolve the Partnership. The Partnership shall terminate and a majority in interest of the Limited Partners may select one or more persons to wind up the affairs of the Partnership in due course and discharge the functions exercised by the General Partner under Section 9.02 subject to Section 2.05 and Section 2.06 hereof. In the event of the death or insanity of the General Partner or the giving of notice of withdrawal by the General Partner, the interest of the General Partner shall continue at the risk of the Partnership business until the affairs of the Partnership have been wound up in due course. If the General Partner becomes disabled and remains so disabled for more than 15 consecutive days, the Limited Partners may by a vote of a majority in interest select one or more persons to perform the functions of the General Partner during the period of disability; but if the disability continues for 90 days from the date on which the General Partner becomes disabled, the Partnership shall in any event terminate. Prior to the selection by a majority in interest of the Limited Partners of one or more persons to perform the functions of the General Partner, pursuant to this paragraph, a person or persons designated by prior appointment by the General Partner may perform such functions. The person designated by prior appointment by the General Partner to function as General Partner shall be entitled to all of the powers of the General Partner and to the benefit of Section 2.05 and 2.06 and shall be paid a reasonable fee as determined by the General Partner and reimbursed for his reasonable expenses. For purposes of this Section 8.01, the General Partner is "disabled" if because of disease or injury he is rendered unable to perform his duties as General Partner under this Agreement.
Sample 1
Withdrawal, Death, etc. OF LIMITED PARTNER. A Limited Partner may, upon 30 days' prior notice withdraw from the Partnership at the end of any fiscal year commencing with the first fiscal year of the Partnership. The withdrawal, death or insanity of a Limited Partner shall not dissolve the Partnership. In the event of death or insanity of a Limited Partner of the giving of notice of such Limited Partner shall continue at the risk of the Partnership business until the last day of the fiscal year in which such event takes place (herein called the "year of determination") or earlier termination of the Partnership. If the Partnership is continued after the expiration of the year of determination, such Limited Partner or his legal representatives shall be entitled to receive within 60 days of the end of such fiscal year, in accordance with Section 8.03, the Liquidating Share of such Limited Partner as of the end of the year of determination. The interest of a Limited Partner who serves notice of withdrawal, dies or becomes insane or the interest of the legal representatives of such Limited Partner shall not be included in calculating a majority in interest of the Limited Partners under Section 7.01, Section 8.01 and Section 11.04.
Sample 1
Withdrawal, Death, etc of Partners.
Sample 1
AutoNDA by SimpleDocs
Withdrawal, Death, etc o f Non-Managing Members
Sample 1

Related to Withdrawal, Death, etc

  • Pre-Retirement Death Benefit 4.1 (a) Normal form of payment. If (i) the Director dies while employed by the Bank, and (ii) the Director has not made a Timely Election to receive a lump sum benefit, this Subsection 4.1(a) shall be controlling with respect to pre-retirement death benefits. The balance of the Director=s Retirement Income Trust Fund, measured as of the later of (i) the Director=s death, or (ii) the date any final lump sum Contribution is made pursuant to Subsection 2.1(b), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable for the Payout Period. Such benefits shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is less than the rate of return used to annuitize the Retirement Income Trust Fund, no additional contributions to the Retirement Income Trust Fund shall be required by the Bank in order to fund the final benefit payment(s) and make up for any shortage attributable to the less-than-expected rate of return. Should Retirement Income Trust Fund assets actually earn a rate of return, following the date such balance is annuitized, which is greater than the rate of return used to annuitize the Retirement Income Trust Fund, the final benefit payment to the Director=s Beneficiary shall distribute the excess amounts attributable to the greater-than-expected rate of return. The Director=s Beneficiary may request to receive the unpaid balance of the Director=s Retirement Income Trust Fund in a lump sum payment. If a lump sum payment is requested by the Beneficiary, payment of the balance of the Retirement Income Trust Fund in such lump sum form shall be made only if the Director=s Beneficiary notifies both the Administrator and trustee in writing of such election within ninety (90) days of the Director=s death. Such lump sum payment shall be made within thirty (30) days of such notice. The Director=s Accrued Benefit Account (if applicable), measured as of the later of (i) the Director's death or (ii) the date any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account pursuant to Subsection 2.1(c), shall be annuitized (using the Interest Factor) into monthly installments and shall be payable to the Director's Beneficiary for the Payout Period. Such benefit payments shall commence within thirty (30) days of the date the Administrator receives notice of the Director=s death, or if later, within thirty (30) days after any final lump sum Phantom Contribution is recorded in the Accrued Benefit Account in accordance with Subsection 2.1(c).

  • Pre-Retirement Death Benefits Should the Executive die while --------- ----------------------------- in the service of the Bank and prior to the occurrence of his 55th birthday, the Bank will pay $2,070 per month for a continuous period of 120 months to the Beneficiary or Beneficiaries of the Executive. The first such monthly installment payment shall be made on a date to be determined by the Bank, but in no event later than the first day of the sixth calendar month following the calendar month in which the Executive died. In the event of the death of the last living Beneficiary before all installment payments shall have been made, the balance of any payments which remain unpaid at the time of such Beneficiary's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the estate of the last Beneficiary to die. In the absence of any such beneficiary designation, or if no Beneficiary survives the Executive, any payments remaining unpaid at the Executive's death shall be commuted on the basis of eight percent (8%) per annum compounded interest and shall be paid in a single sum to the Executive's estate.

  • Distribution Upon Withdrawal No withdrawing Member shall be entitled to receive any distribution or the value of such Member’s Interest in the Company as a result of withdrawal from the Company prior to the liquidation of the Company, except as specifically provided in this Agreement.

  • Voluntary Withdrawal If any Partner should withdraw from the Partnership, they must give at least days’ written notice to the Partnership. Such withdrawal shall have no effect on the day-to-day operations of the Partnership.

  • Termination for Death Following a Change in Control, if the Executive’s employment with the Company is terminated by reason of his death, the Executive’s benefits shall be determined in accordance with the Company’s retirement, survivor’s benefits, insurance, and other applicable programs then in effect.

  • Distribution at Death If the Executive dies prior to the payment of his or her Distributable Balance, the Executive’s Distributable Balance immediately shall become payable in full to the Executive’s Designated Beneficiary (as determined under paragraph 4) (irrespective of the payment date elected by the Executive in paragraph 3(b)). Payment shall be made at the time determined by the Company within sixty (60) days following the Executive’s death.

  • Termination for Retirement or Death If Executive’s employment is terminated by reason of his retirement or death following a Change in Control, Executive’s benefits shall be determined in accordance with Company’s retirement, survivor’s benefits, insurance, and other applicable programs then in effect, and Executive shall not be entitled to any other benefits provided by this Agreement.

  • Death, Retirement or Disability Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement, “Disability” shall mean a mental or physical disability as determined by the Board of Directors of the Company in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the Company does not maintain such a long-term disability plan, “Disability” shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical or mental condition which has lasted (or can reasonably be expected to last) for twelve workweeks in any twelve-month period. At the request of Executive or his personal representative, the Board’s determination that the Disability of Executive has occurred shall be certified by two physicians mutually agreed upon by Executive, or his personal representative, and the Company. Failing such independent certification (if so requested by Executive), Executive’s termination shall be deemed a termination by the Company without Cause and not a termination by reason of his Disability.

  • Disability; Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

Time is Money Join Law Insider Premium to draft better contracts faster.