Outgoing Partner definition

Outgoing Partner means a Partner who ceases to be a member of ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
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Outgoing Partner means a person who is no longer a Partner, whether caused by death, retirement, expulsion or otherwise and where the context so admits shall include his legal personal representatives or trustee in bankruptcy.
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Outgoing Partner a Partner who ceases to be a member of the Partnership for any reason;
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Examples of Outgoing Partner in a sentence

  • Subject to Clause [14(b)] of the Deed, the share and interest of the Outgoing Partner in the Partnership, including the capital, goodwill, Partnership name and other assets thereof shall accrue to the Continuing Partners without the Outgoing Partner his personal representatives trustee in bankruptcy, the official assignee in bankruptcy or any other person being entitled to any part thereof or share or interest therein or save in accordance with this Schedule to any payment in respect of thereof.

  • The Outgoing Partner shall deliver to the Continuing Partners all books of account records, clients’ files and other documents in his possession relating to the Partnership but during the period of three years following the Outgoing Date the Outgoing Partner or his duly authorised agent shall be permitted to inspect by appointment books of account, records, letters and other documents of the Partnership so far as they relate to any period preceding the Outgoing Date.

  • A person becoming an Outgoing Partner, whether by death, bankruptcy, retirement, expulsion or otherwise, or a person joining the Partnership, shall not determine the partnership as between the Continuing Partners.

  • The Continuing Partners shall pay to the Outgoing Partner the undrawn balance of the Outgoing Partner's share of the net profits of the Partnership at the Outgoing Date as follows.

  • Such interest shall, unless otherwise agreed by all the Continuing Partners accrue to the Continuing Partners in the proportions in which they are entitled inter se to the profits of the Partnership on the Outgoing Date (adjusted to exclude the Outgoing Partner for this purpose).

  • The Continuing Partners shall keep the Outgoing Partner and his estate and effects indemnified against all such debts and liabilities (save for those excluded as aforesaid) and all actions proceedings costs claims and demands in respect thereof.

  • The Continuing Partners shall pay and discharge all debts and liabilities of the Partnership arising after the Outgoing Date excluding any debt or liability in respect of any claim arising out of any wrongful act or omission of the Partners or any of them to the extent that such claim is attributable to any wrongful act or omission while the Outgoing Partner was a Partner and is not covered by insurance.

  • Such debt or liability shall be divided between the Continuing Partners and the Outgoing Partner (where relevant) in accordance with their respective shares of the profits at the time the debt or liability was incurred.

  • No variation pursuant to this clause 26 shall take effect so as to prejudice the rights of a person who is an Outgoing Partner at the time the variation takes effect.

  • On a Partner leaving the Partnership (an “Outgoing Partner”) the aggregate percentage share of profits shall be revised by the percentage share of profits of the Outgoing Partner.


More Definitions of Outgoing Partner

Outgoing Partner means any Partner who ceases to be a member of the Partnership for any reason;
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Related to Outgoing Partner

  • Dating partner means any person involved in an intimate association with another individual that is primarily characterized by the expectation of affectionate involvement, whether casual, serious, or long-term.

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

  • 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.

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

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

  • Limited Partner means, prior to the admission of the first Additional Limited Partner to the Partnership, the Initial Limited Partner, and thereafter any Person named as a Limited Partner in Exhibit A, as such Exhibit may be amended from time to time, upon the execution and delivery by such Person of an additional limited partner signature page, or any Substituted Limited Partner or Additional Limited Partner, in such Person’s capacity as a Limited Partner of the Partnership.

  • Non-Managing Member means any Member other than the Managing Member (except to the extent the Managing Member holds Non-Managing Member Units).

  • 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.

  • Sub-Manager Any Person with which the Property Manager or the Special Servicer has entered into a Sub-Management Agreement.

  • Consenting working interest owner means any working interest owner who enters into an agreement with SWN pertaining to the operation of the Posey B Unit.

  • Economic Interest Owner means the owner of an Economic Interest who is not a Member.

  • Redeeming Partner has the meaning set forth in Section 8.6.A.

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

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.

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

  • Managing Member means CEF Equipment Holding, L.L.C., a Delaware limited liability company or any successor Managing Member under the Issuer Limited Liability Company Agreement.

  • Contributing Partner means each Partner contributing (or deemed to have contributed on termination and reconstitution of the Partnership pursuant to Section 708 of the Code or otherwise) a Contributed Property.

  • Tax Matters Partner has the meaning set forth in Section 5.08.

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

  • Sub-Advisor shall include the Sub-Advisor and/or any of its affiliates and the directors, officers and employees of the Sub-Advisor and/or any of its affiliates.

  • Paying Party has the meaning set forth in Section 7.9.1.

  • General Partner has the meaning set forth in the Preamble.

  • Member Representative means an individual who can make OHP-related decisions for a member who is not able to make such decisions themselves.

  • Procuring Entity/Purchaser means a Entity having administrative and financial powers to undertake Procurement of Goods, Works or Services using public funds, as specified in the PCC;

  • Substituted Limited Partner means a Person who is admitted as a Limited Partner to the Partnership pursuant to Section 11.4.