Sentences with phrase «partnership fees clause»
Even though the limited partnership fees clause was broad, it did not define «prevailing party» such that general principles applied.
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We were also able to capitalise on an advancement clause which required the partnership, including the other partners who were adversaries, to pay our legal fees.
The application judge found that the two - member firm partnership had been dissolved and declared the restrictive covenant unenforceable as a penalty, but directed a trial of an issue to determine the damages payable by the appellant as a result of a breach of the portion of the portion of the covenant he found valid and severable — the withdrawal having triggered a clause in the agreement which called for the reduction of the withdrawing partner's capital account «by 500 % of the average fees billed by the firm to clients who transfer to the withdrawing partner within 24... Read More
The application judge found that the two - member firm partnership had been dissolved and declared the restrictive covenant unenforceable as a penalty, but directed a trial of an issue to determine the damages payable by the appellant as a result of a breach of the portion of the portion of the covenant he found valid and severable — the withdrawal having triggered a clause in the agreement which called for the reduction of the withdrawing partner's capital account «by 500 % of the average fees billed by the firm to clients who transfer to the withdrawing partner within 24 months of the withdrawal date».