AUTOMATIC WITHDRAWAL. Any partner who is absent for three (3) consecutive meetings, or five (5) of any 12 consecutive meetings, or has late fees assessed for any two (2) of 12 consecutive meetings, without consent from the super-majority of the partners, shall automatically be removed. has not materially participated in the partnership for six consecutive months shall be automatically considered having requested a full withdrawal. The meeting causing any of these clauses this to be true shall be treated as receipt of request for full withdrawal. The removal shall become effective upon payment of the value of the removed partner's capital account, which shall be in accordance with the provisions on full withdrawal of a partner noted in section 2021 of this agreement.
Appears in 2 contracts
Sources: Partnership Agreement, Partnership Agreement