Examples of ELP Law in a sentence
These funds typically include private equity and property funds and are often established as Cayman exempted limited partnerships (ELPs) under the Exempted Limited Partnership Law 2014 (the ELP Law).
Notwithstanding any provision of the ELP Law, only the General Partner shall have the authority to bind ASAC.
If, nevertheless, it shall be determined by a court of competent jurisdiction that any provision or wording of this Agreement shall be invalid or unenforceable under such ELP Law or other applicable Law, such invalidity or unenforceability shall not invalidate the entire Agreement.
The Partnership shall be entitled to recognize the exclusive right of a Person registered on its records as the owner of Units for all purposes and shall not be bound to recognize any equitable or other claim to or interest in Units on the part of any other Person, whether or not it shall have express or other notice thereof, except as otherwise provided by the ELP Law or other applicable Law.
Except as expressly provided herein or pursuant to the ELP Law, no Limited Partner shall have any right to vote on any matter involving the Partnership, including with respect to any merger, consolidation, combination or conversion of the Partnership, or any other matter that a limited partner might otherwise have the ability to vote on or consent with respect to under the ELP Law, at law, in equity or otherwise.
The rights, duties and liabilities of the Partners shall be as provided in the ELP Law, except as is otherwise expressly provided herein, and the Partners consent to the variation of such rights, duties and liabilities as provided herein.
Notwithstanding any provision to the contrary contained in this Agreement, the Partnership, and the General Partner on behalf of the Partnership, shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would not be permitted under the ELP Law or any other applicable Law.
The parties hereto continue the Partnership under and pursuant to the ELP Law and upon the terms of this Agreement.
Notwithstanding the foregoing, nothing in this Section 11.1 excludes the jurisdiction of the Cayman Islands courts with respect to any matter reserved to it pursuant to the ELP Law or Cayman Islands law.
Except as required by the ELP Law, the Partnership shall not commence winding up by the admission of additional Partners or withdrawal of Partners in accordance with the terms of this Agreement.