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withdrawing Partner as of the effective date of such retirement or withdrawal,
and as shown on the Partnership books, increased by his share of Partnership
_ profits or decreased by his share of Partnership losses during the accountinq
year of such retirement or withdrawal, and increa sed by his earned but
undrawn income, if any, as shown on the Partnership books in his income
account on the effective date of such retirement or withdrawal; and no
allowance shall be made for goodwill, tradenames, patents or other intanqible
assets except as those assets shall have been reflected on the Partnership
books at the effective date of such retirement or withdrawal.
3. Each of the remaining Partners shall'have the right to purchase
a portion of the retirinq or withdrawing Partner's fnterest in the Partnership, I
in the proportion which his interest bears to the interest of the other remaining
~ Partner in the profits of the Partnership; and in the event one of the remaining
Partners shall not elect to so participate in the purchase of the interest of~
E , the retiring or withdrawing Partner, he shall serve written notice of his
~ intention not to participate upon the other remaining Partner within ten (10)
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' days after the effective date of such retirement or withdrawal, whereupon the ~
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~ ~ other remaining Partner may at his election purchase the entire interest of the i
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~ retirinq or withdrawing Partner, and unless such entire interest is so purchase ,
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~ the Partnership shall be dissolved in accordance with Article VIII.
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~ 4. In the event the remaining Partner shall elect to purchase the
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k~ interest of the retiring or withdrawing Partner as aforesaid, they, or if only on ,
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~ he shall notify the retiring or withdrawing Partner of such intention by notice
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~ " in writinq as aforesaid; thereupon, any earned but undrawn income of such
- o..K.. retiring or withdrawing Partner shall be forthwith paid to him, and the balance
WG[lIAAN, WEISf
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-_~~~.,_~,~.~.~tMM~7LY~111A of the purchase price shall be paid to him in thirty (30) equal, monthly
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