Examples of Event of Withdrawal in a sentence
If an Event of Withdrawal specified in Section 11.1(a)(iv), (v) or (vi)(A), (B), (C) or (E) occurs, the withdrawing General Partner shall give notice to the Limited Partners within 30 days after such occurrence.
The withdrawal of the General Partner from the Partnership upon the occurrence of an Event of Withdrawal shall also constitute the withdrawal of the General Partner as general partner or managing member, if any, to the extent applicable, of the other Group Members.
For purposes of this Agreement, an Event of Withdrawal shall include the occurrence of any event set forth in Section 14-9-602 of the Act upon compliance with any notification requirements imposed by the Act.
Upon the occurrence of an Event of Withdrawal, the General Partner concerned shall cease to be a member of the Partnership and the Partnership shall have the option to liquidate the Partnership interest of such General Partner.
The Partnership shall exercise its option by serving written notice upon the General Partner concerned or the legal representative of such General Partner within ninety (90) days from the date it receives notification of the Event of Withdrawal.