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Defaulting Partner shall be transferred as provided herein;
and the Defaulting Partner shall henceforth have no Partner-
ship Interest whatsoever. The General Partners (or-other
General Partner(s)) shall assume the Defaulting Partner's
obligation to make the Capital Contribution required under
this Article and thereby acquire the Defaulting Partner's
Partnership Interest and become (in accordance with the
provisions of Article XI hereof) Substituted Limited Partners
in the Partnership in respect of such Partnership Interest;
provided, however, that the General Partners may admit (in
accordance with the provisions of Article XI hereof) a
Substituted Limited Partner other then one of them into the
Partnership in lieu of the Defaulting Fartner and in respect
of the Defaulting Partner's Partnership Interest so long as
such Substituted Limited Partner assumes -the Defaulting
Partner's obligation to make the Additional Capital Contribution
required in this Article. The Capital Account of any such
I Substituted Limited Partner in respect of such Partnership
Interest so acquired. pursuant to this Article shall consist
of the amount of cash contributed by such Substituted Limited
Partner to the capital of the Partnership but shall not
{ include any portion of the Defaulting Partner's Capital
I Contribution in the Partnership.
E - (C) In the event of any forfeiture of a Defaulting
Partner's Partnership Interest pursuant to the provisions of
this Article, the remaining Limited Partners and the General
Partners agree to continue the business of the Partnership,
in accordance with the provisions of this Agreement, until
the end of the Term, subject to the provisions of Article XII
hereof; provided, however, that upon the admission of a
Substituted Limited Partner into the Partnership by the
General Partners in accordance with the provisions of this
Article, the General Partners shall prepare (or cause to be
prepared) an amendment to this Agreement and shall cause the
same to be filed with the Secretary of State of the State of
Florida and a certified copy thereof to be recorded in the
,z Public Records of Orange County, Florida. The continuing
Partnership shall constitute the same Partnership for all
purposes and in all respects, and the continuing Limited
Partners shall not be required to make any contributions to
the Partnership in excess of the contributions required
pursuant to this Article. -
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(D} If the Partnership Interest of a Defaulting
Partner i ~ forfeited pursuant to this Article, the Defaulting
Partner s all continue to be liable to the Partnership for
-8- BQ~K322 P~~E 532