HomeMy WebLinkAbout2739 profits to which his assignor would otherwise be entitled
and shall not give ~he assiqnee the right to become a
substituted Limited Partner; provided, however, that the
General Partners may substitute any assignee as a new
Limited Partner if, in their sole discretion, they deem sach
substitution in the best interests of the Partnership and ;
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not in violation of any state or federal securities law.
10.2 To effect the substitution of a Limited
Partner as provided herein, an amendment to this Certificate ~
,
of Limited Partn~rship, reflecting said substitution and ~
the agreement of the Substituted Limited Partner to abide
by all of the provisions oF this Agreement, shall be executed
by the General Partner, the Substituted Limited Partner and
the Substituting Limited Partner and filed in all appropriate
places. The signatur~s and consents of the other Limited
Partners shall not be required. The General Partners are
authorized to do all things necessary to effectuate said •
substitution.
11. D~aiTH, II~;^~^,.`•IPETEivCie., EYC. OF GEVERAL PART~TER. -
11.1 Upon the death, incapacity or adjudication
i 3
' of legal incompetence, bankruptcy, insolvenc ~
f y, or insanity
! of a General Partner (hereinafter referr~d to as "incapacity"),
the Partnership shall be terminated and dissolved; provided,
ho~vever, that the remaining General Partners may, if any,
within thirty (30) days, elect to continue the Partnership
and give notice of that election to the Limited Partners, in
which event the Partnership shail not be ter~inated and '
~
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_ dissolved. ,
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11.2 Upon the incapacity of the last remaining f
~
t
L General Partner (as defined in Paragraph 11_1 above), the
' Partnership shall be diss~l~ed and cerriinated, prorided,
~
~ however, that within thirty (30) days after the date of said
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