HomeMy WebLinkAbout1755 Notwithstanding the foregoing, an Assignor Partner shall !
not sell his interest in the Partnership to a third party (non-
partnership member) unless the Assignor Partner shall first offer
his interest to the other Partners upon the same terms and
conditions as a bona fide offer received from such outside party.-
XI. Priority Among Limited Partners. No priority
exists among the Limited Partners as to contributions, compensa-
tion or otherwise.
XII. Death, Retirement, Adjudication of Incompetency
or Bankruptcy of a General Partner. The Partnership shall be
dissolved upon the occurrence of the death or adjudication of
incompetency or the adjudication of bankruptcy of either of
the General Partners of the Partnership, the sale or other
disposition by the Partnership of substantially all of its
property and assets or any other event causing the dissolution
thereof under the Uniform Limited Partnership Act, provided,
however, that in the event of the dissolution of the Partner-
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'i ship upon the death, adjudication of incompetency or bankruptcy,
_ or withdrawal of only one of the General Partners, such F
dissolution shall not effect a termination of the Partnership i
Agreement, in which event the remaining General Partner shall
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continue the business in the Partnership as a reconstituted s
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Partnership, the sole General Partner of which shall be the
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remaining General Partner.
The death, retirement, insanity or bankruptcy of the
last remaining General Partner shall cause the dissolution of
the Partnership; but, upon an affirmative vote of those Limited
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Partners holding at least Fifty Percent (50$) of the ownership
interest in the Partnership, the Limited Partners shall have
the right to continue the business under a reconstituted Partner-
, ship by selecting a new General Partner.
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f PEE. KOBLE6ARD & TEEL, P. A.
ATTORNEYS AT LAW 5~~~ 7 /1l~C Z~~
POST OFFICE BOX 1000 ~~..''YY 7 /WC
FORT PIERCE, FLORIDA 'J~430
T[L[INON[z tJ00/ 461-0020
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