Common use of Interest of Departing General Partner and Successor General Partner Clause in Contracts

Interest of Departing General Partner and Successor General Partner. 12.2.1. In the event of withdrawal of the General Partner under circumstances described in Section 12.1.3, the Departing General Partner shall, at its option exercisable prior to the effective date of the departure of such Departing General Partner, promptly receive from its successor in exchange for its General Partner Unit an amount in cash equal to the fair market value of the General Partner Unit, such amount to be determined and payable as of the effective date of its departure. If the General Partner withdraws under circumstances other than as described in Section 12.1.3, its successor shall have the option described in the immediately preceding sentence, and the Departing General Partner shall not have such option.

Interest of Departing General Partner and Successor General Partner. 12.2.1. In the event of withdrawal of the General Partner under circumstances described in Section 12.1.3where such withdrawal does not violate this Agreement, the Departing General Partner shall, at its option exercisable prior to the effective date of the departure of such Departing General Partner, promptly receive from its successor in exchange for its General Partner Unit an amount in cash equal to the fair market value of the General Partner Unit, such amount to be determined and payable as of the effective date of its departure. If the General Partner withdraws under circumstances other than as described in Section 12.1.3where such withdrawal violates this Agreement, its successor shall have the option described in the immediately preceding sentence, and the Departing General Partner shall not have such option.

Interest of Departing General Partner and Successor General Partner. 12.2.115.3.1. In the event of (i) withdrawal of the General Partner under circumstances described in Section 12.1.3where such withdrawal does not violate this Agreement or (ii) removal of the General Partner by the Limited Partners under circumstances where Cause does not exist, the Departing General Partner shall, at its option exercisable prior to the effective date of the departure of such Departing General Partner, promptly receive from its successor in exchange for its General Partner Unit Units an amount in cash equal to the fair market value of the General Partner UnitUnits, such amount to be determined and payable as of the effective date of its departure. If the General Partner is removed by the Limited Partners under circumstances where Cause exists or if the General Partner withdraws under circumstances other than as described in Section 12.1.3where such withdrawal violates this Agreement, its successor shall have the option described in the immediately preceding sentence, and the Departing General Partner shall not have such option.

Interest of Departing General Partner and Successor General Partner. 12.2.1. 12.2.1 In the event of withdrawal of the General Partner under circumstances described in Section 12.1.3where such withdrawal does not violate this Agreement, the Departing General Partner shall, at its option exercisable prior to the effective date of the departure of such Departing General Partner, promptly receive from its successor in exchange for its General Partner Unit an amount in cash equal to the fair market value of the General Partner Unit, such amount to be determined and payable as of the effective date of its departure. If the General Partner withdraws under circumstances other than as described in Section 12.1.3where such withdrawal violates this Agreement, its successor shall have the option described in the immediately preceding sentence, and the Departing General Partner shall not have such option.

Interest of Departing General Partner and Successor General Partner. 12.2.115.3.1. In the event of (i) withdrawal of the General Partner under circumstances described in Section 12.1.315.1.3 or (ii) removal of the General Partner by the Limited Partners under circumstances where Cause does not exist, the Departing General Partner shall, at its option exercisable prior to the effective date of the departure of such Departing General Partner, promptly receive from its successor in exchange for its General Partner Unit Units an amount in cash equal to the fair market value of the General Partner UnitUnits, such amount to be determined and payable as of the effective date of its departure. If the General Partner is removed by the Limited Partners under circumstances where Cause exists or if the General Partner withdraws under circumstances other than as described in Section 12.1.315.1.3, its successor shall have the option described in the immediately preceding sentence, and the Departing General Partner shall not have such option.

Interest of Departing General Partner and Successor General Partner. 12.2.111.2.1. In the event of withdrawal of the General Partner under circumstances described in Section 12.1.311.1.3, the Departing General Partner shall, at its option exercisable prior to the effective date of the departure of such Departing General Partner, promptly receive from its successor in exchange for its General Partner Unit an amount in cash equal to the fair market value of the General Partner Unit, such amount to be determined and payable as of the effective date of its departure. If the General Partner withdraws under circumstances other than as described in Section 12.1.311.1.3, its successor shall have the option described in the immediately preceding sentence, and the Departing General Partner shall not have such option.