Common use of Mandatory Withdrawal Clause in Contracts

Mandatory Withdrawal. Unless the General Partner otherwise determines, an individual Limited Partner shall be required to withdraw from the Partnership upon the termination of his/her employment by TAH and its affiliates prior to the vesting of his/her interest under paragraph 3.01(c), except for a termination by reason of normal retirement under the employer's policies, death or disability, and such Limited Partner's Partnership interest shall be liquidated under Section 4.04 or purchased by the General Partner for retransfer to substituted Limited Partners under Section 3.01(c)(iii).