Retiring Partner definition

Retiring Partner a Partner with respect to whom a Retiring Event has occurred.

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Retiring Partner has the meaning set forth in the Background.

Retiring Partner means any Partner who tenders an Interest for Retirement pursuant to Section 8.3.

Examples of Retiring Partner in a sentence

• This Agreement is a valid and binding obligation of the Retiring Partner, enforceable against the Retiring Partner in accordance with its terms, except insofar as such enforceability may be affected by bankruptcy, insolvency or similar laws affecting creditor’s rights generally and the availability of any particular equitable remedy.

• No consent or approval, authorization, order, regulation or qualification of any governmental entity or any other person is required for the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby by the Retiring Partner.

• The accounting firm regularly employed by the Partnership shall give notice of the Redemption Price to the Partnership and the Retiring Partner as soon as reasonably possible.

• The Retiring Partner is duly organized and validly existing under the laws of the State of Delaware and has been duly authorized by all necessary and appropriate corporate action to enter into this Agreement and to consummate the transactions contemplated herein.

• The execution of this Agreement by the Retiring Partner and the performance of his obligations hereunder will not violate any contract, mortgage, indenture, or other similar restriction to which the Retiring Partner is a party or by which its assets are bound.

• A.5 The continuing partner reserves his right to induct before the formal retirement of the outgoing partner another person as partner in this partnership on such terms and conditions as may be decided by the continuing partner but not so as to prejudice the interest of the Retiring Partner.

• The Partnership may prepare and file fictitious business name statements and such other statements or documents as the Continuing Partners deem appropriate to reflect the withdrawal of the Retiring Partner from the Partnership and the continuation of the Partnership.

• Each Party intends this Agreement to apply to all unknown or unanticipated results, as well as those known and anticipated, and it is the intention of each Party to hereby fully, finally, absolutely, and forever resolve any and all claims and disputes which have existed, do exist, or may exist relating to the Partnership or its activities, assets, liabilities, or partners, other than the obligations to the Retiring Partner set forth in this Agreement.

• A.3 The Retiring Partner shall be entitled to the credit balance or be liable for the debit balance as arrived as per the said accounts which shall be payable to him or receivable from him, as the case may be, as may be mutually agreed upon.

• Liabilities to which the Retiring Partner remains subject pursuant to Section 7.7 of the Partnership Agreement are referred to herein as "Contingent Liabilities".

More Definitions of Retiring Partner

Retiring Partner means a Partner who retires from the Partnership under clause 49. Schedule means a schedule to this Agreement. Unanimous Resolution means a written resolution signed and dated by all the Partners. Interpretation Governing Law and Jurisdiction This Agreement is governed by and is to be construed in accordance with the laws stated in item 8 of Schedule 1. Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of that jurisdiction and waives any right to object to proceedings being brought in those courts. Persons In this Agreement, a reference to: a person includes a firm, partnership, joint venture, association, corporation or other corporate body; a person includes the legal personal representatives, successors and permitted assigns of that person; and any body which no longer exists or has been reconstituted, renamed, replaced or whose powers or functions have been removed or transferred to another body or agency, is a reference to the body which most closely serves the purposes or objects of the first-mentioned body. Joint and several If a party consists of more than one person, then this Agreement binds them jointly and each of them severally.

Retiring Partner means any Partner who has given notice of an intention to retire from the Partnership under clause 6 of this Agreement;

Retiring Partner means a Partner who retires from the Partnership under clause 49. Schedule means a schedule to this Agreement. Unanimous Resolution means a written resolution signed and dated by all the Partners. 103 This Agreement is governed by and is to be construed in accordance with the laws stated in item 8 of Schedule 1. Each party irrevocably and unconditionally submits to the non- exclusive jurisdiction of the courts of that jurisdiction and waives any right to object to proceedings being brought in those courts.