Withdrawing Partners definition

Withdrawing Partners has the meaning set forth in Section 15.1.H hereof.
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Examples of Withdrawing Partners in a sentence

  • In the event of any Withdrawal by a General Partner in violation of this Section 7.1, such General Partner, in addition to being subject to any and all other legal remedies which may be pursued by the Partners, shall forfeit to the Special Limited Partner or its designee, such General Partner's Interest and all unpaid fees from the Partnership and shall remain liable for all of the Withdrawing Partner's obligations under this Agreement.

  • The Withdrawing Partner's Interest shall be purchased by the Partnership on such closing date at a price (the "Withdrawing Purchase Price") which shall be the Appraised Value (as defined in Section 18.1 of this Agreement).

  • Liability of Withdrawing Partners and New Partners A partner withdrawing from a general partnership enterprise shall be liable for the debts of the general partnership arising prior to his withdrawal from the general partnership enterprise.

  • If the deposit is greater than the Withdrawing Partner's actual share, the difference will be refunded.

  • The deposit will be applied to the Withdrawing Partner's actual share of such costs when they are ultimately incurred with the Withdrawing Partner remaining liable for its share of the ultimate costs if they are greater than the deposit.

  • Amends Section 152.707(b), Business Organizations Code, to provide that in settling accounts among the partners, the partnership interest of a withdrawn partner that is redeemed, under Section 152.610, rather than is not redeemed under Subchapter H (Redemption of Withdrawing Partner's or Transferee's Interest), is credited with a share of any profits for the period after the partner's withdrawal but is charged with a share of losses for that period only to the extent of profits credited for that period.

  • Contracting to Prevent Opportunistic Withdrawal: The FiduciaryDuties Owed by Withdrawing Partners 122 Meehan v.

  • Amends Section 152.707(b), Business Organizations Code, to provide that in settling accounts among the partners, the partnership interest of a withdrawn partner is redeemed, rather that is not redeemed, under Section 152.610, rather than Subchapter H (Redemption of Withdrawing Partner's or Transferee's Interest), is credited with a share of any profits for the period after the partner's withdrawal but is charged with a share of losses for that period only to the extent of profits credited for that period.

  • On the Closing Date, the Partnership and the Withdrawing Partner shall execute such commercially reasonable documents and instruments of conveyance as may be necessary or appropriate to confirm the redemption of the Withdrawing Partner's interest in the Partnership, and the Withdrawal of the Withdrawing Partner as a Limited Partner as of the Closing Date.

  • Pursuant to the transactions --------------------------------- described in the Recitals above, the Withdrawing Partners have ceased to be partners in the Partnership, BPLLC has been admitted as the Managing General Partner of the Partnership with a 0.499798% Percentage Interest and Holdings LLC has been admitted as a Non-Managing General Partner of the Partnership with a 49.479944% Percentage Interest.

Related to Withdrawing Partners

  • Lead Partner means the lead partner of a joint venture, as described in Sub-Clause

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • Hosting Partners means companies who entered into an agreement with CIPC in the areas of application management; application hosting, application service provision, and marketplace hosting are incorporated in this category.

  • Managing Partner means KKR Management LLC, a Delaware limited liability company.

  • General Partners means all such Persons.

  • Defaulting Limited Partner means a Limited Partner that has failed to pay any amount owed to the Partnership under a Partnership Loan within 15 days after demand for payment thereof is made by the Partnership.

  • Departing Partner means a former General Partner from and after the effective date of any withdrawal or removal of such former General Partner pursuant to Section 11.1 or 11.2.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • General Partner Interest means the ownership interest of the General Partner in the Partnership (in its capacity as a general partner without reference to any Limited Partner Interest held by it) which may be evidenced by Partnership Securities or a combination thereof or interest therein, and includes any and all benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement.

  • Tendering Partner shall have the meaning set forth in Section 8.6.A.

  • Limited Partners means all such Persons.

  • Partners means the General Partner and the Limited Partners.

  • Departing General Partner means a former General Partner from and after the effective date of any withdrawal or removal of such former General Partner pursuant to Section 11.1 or Section 11.2.

  • Class A Limited Partner means EPCO Holdings, Inc., a Delaware corporation, and its successors and assigns.

  • Non-Lead Sponsor means the Note A-2 Holder in its capacity as the sponsor with respect to the Non-Lead Securitization Note in connection with the Non-Lead Securitization.

  • Class A Member means a Member holding one or more Class A Ordinary Shares.

  • General Partner means the general partner of the Partnership.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • Initiating Member shall have the meaning provided in Section 15.2(a).

  • Faculty Member means any person hired by the college or District to conduct classroom or teaching activities or who is otherwise considered by the college to be a member of faculty.

  • Class A Members means those Members who have purchased Class A Interests.

  • Defaulting Partner shall have the meaning set forth in Section 9.1.

  • Selling Partner has the meaning set forth in Section 8.5.

  • Non-Managing Member means any Member other than the Managing Member.

  • Managing General Partner means the managing general partner of the Merging Entity where such Merging Entity is a limited partnership.

  • Trading Partner means an entity that has registered with the Commission to exchange data through Electronic Data Interchange.