Common use of Limitations on Withdrawal Clause in Contracts

Limitations on Withdrawal. 3.7.1 No Partner may withdraw any amounts from its Capital Account in excess of the positive balance of its Capital Account. 3.7.2 Any of the conditions relating to withdrawals pursuant to the provisions of this Article III or otherwise as set out in this Agreement (including the notice periods and lock-up periods) may, in good faith and in a manner that is not materially prejudicial ACTIVE 277660570v.12 to the Partnership, be waived or reduced by the General Partner, in its discretion, from time to time, subject to such terms and conditions deemed appropriate to the General Partner, with respect to one or more Limited Partners without notice to, or the consent of, the other Limited Partners.

Appears in 1 contract

Sources: Exempted Limited Partnership Agreement (SiriusPoint LTD)

Limitations on Withdrawal. 3.7.1 No ▇. ▇▇ Partner may withdraw any amounts from its Capital Account in excess of the positive balance of its Capital Account. 3.7.2 ii. Any of the conditions relating to withdrawals pursuant to the provisions of this Article III or otherwise as set out in this Agreement (including the notice periods and lock-up periods) may, in good faith and in a manner that is not materially prejudicial ACTIVE 277660570v.12 to the Partnership, be waived or reduced by the General Partner, in its discretion, from time to time, subject to such terms and conditions deemed appropriate to the General Partner, with respect to one or more Limited Partners without notice to, or the consent of, the other Limited Partners.

Appears in 1 contract

Sources: Exempted Limited Partnership Agreement (Third Point Reinsurance Ltd.)

Limitations on Withdrawal. 3.7.1 No Partner may withdraw any amounts from its Capital Account in excess of the positive balance of its Capital Account. 3.7.2 Any of the conditions relating to withdrawals pursuant to the provisions of this Article III or otherwise as set out in this Agreement (including the notice periods and lock-up periods) may, in good faith and in a manner that is not materially prejudicial ACTIVE 277660570v.12 to the Partnership, be waived or reduced by the General Partner, in its discretion, from time to time, subject to such terms and conditions deemed appropriate to the General Partner, with respect to one or more Limited Partners without notice to, or the consent of, the other Limited Partners.

Appears in 1 contract

Sources: Exempted Limited Partnership Agreement (Third Point Reinsurance Ltd.)

Limitations on Withdrawal. 3.7.1 No Partner may withdraw any amounts from its Capital Account in excess of the positive balance of its Capital Account. 3.7.2 Any of the conditions relating to withdrawals pursuant to the provisions of this Article III or otherwise as set out in this Agreement (including the notice periods and lock-up periods) may, in good faith and in a manner that is not materially prejudicial ACTIVE 277660570v.12 to the Partnership, be waived or reduced by the General Partner, in its sole discretion, from time to time, subject to such terms and conditions deemed appropriate to the General Partner, with respect to one or more Limited Partners without notice to, or the consent of, the other Limited Partners.

Appears in 1 contract

Sources: Exempted Limited Partnership Agreement (Third Point Reinsurance Ltd.)