Conversion of Interest. Simultaneously with an event of withdrawal with respect to the General Partner (as defined under Section 4.02(a) of the Act), the former General Partner's Partnership Interest as a General Partner shall be automatically converted into that of a Limited Partner having a right to receive distributions from the Partnership and an obligation to make Capital Contributions to the Partnership equal to the right and obligation of the former General Partner as a General Partner immediately prior to its ceasing to be a General Partner and the former General Partner shall be automatically admitted to the Partnership as a new Limited Partner in respect of such Partnership Interest. Following an event of withdrawal with respect to the General Partner, the remaining Partners shall, by unanimous vote, select a new General Partner in accordance with Section 10.5 hereof. The new General Partner shall be admitted to the Partnership as a General Partner effective immediately prior to the existing General Partner ceasing to be a General Partner.
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Sources: Limited Partnership Agreement (Radnor Holdings Corp), Limited Partnership Agreement (Radnor Holdings Corp)