Common use of Causes for Removal Clause in Contracts

Causes for Removal. A General Partner may be removed from the Partnership by the vote of a Majority of the Limited Partners only upon the occurrence of any of the following: (A) A General Partner is in material default of any provision of this Agreement or any obligation to the Partnership or the Limited Partners as imposed by the Act or any other applicable law, and has not cured the default within 90 days written notice from a Majority; (B) The Bankruptcy of a General Partner; (C) In the case of a General Partner that is a partnership, the dissolution and commencement of winding up of such partnership; (D) In the case of a General Partner that is a corporation or limited liability company, the filing of a certificate of dissolution, or its equivalent, for such entity; (E) In the case of a General Partner that is an estate, the distribution by the fiduciary of the estate’s entire Percentage Interest in the Partnership; (F) The entry by a court of competent jurisdiction of an order adjudicating an individual General Partner incompetent to manage the General Partner’s person or estate; or (G) The death of an individual General Partner.