HomeMy WebLinkAbout0547 such Limited Partner's Partnership Interest, within twenty
(20) days after such taking advantage of such adjudication
or assignment, as the case may be, at a price equal to such
Limited Partner's Capital Account, if positive, or One
Hundred Dollars ($100), if such Capital Account is negative
at such time. The terms of payment shall be all cash or as
otherwise agreed upon by the respective parties.
11.6 Right to Vote of Assignor and Assignee Limited
Partners: In the event a vote of the Limited Partners shall
be taken pursuant to any provision of this Agreement or of
the Act, a Limited Partner, solely for the purpose of deter-
mining the number of votes to be cast by him, shall be
deemed to be the holder of any Units of Partnership Interest
transferred by him if the assignee of such Partnership
Interest has not become a Substituted Limited Partner. Any
assignee Limited Partner who has not become a Substituted
Limited Partner shall have no right to vote on any vote
taken pursuant to any provisions of this Agreement o~ of the
Act.
ARTICLE XII
i
f
Dissolution of Partnership
i
G 12.1 Dissolution of the Partnership: The Partnership
~ shall be dissolved upon the occurrence of any of the following
events:
(A) The retirement, withdrawal, adjudication of
insanity or incompetence, complete liquidation or dissolution,
death and/or adjudication of bankruptcy of any of the General
~ Partners; provided, however, that in the event of the retire-
; ment, withdrawal, adjudication of insanity or incompetency,
( complete liquidation or dissolution, death or adjudication
of bankruptcy of any General Partner, then, if the remaining
General Partners (or General Partner) elect (or elects) to
continue the Partnership and the Partnership business, (i)
the Partnership shall not be dissolved, (ii) the Partnership
~ and the Partnership business shall be continued,(iii) the
k Partnership Interest owned by the General Partner who retires,
withdrawals, is adjudged to be insane, incompetent or bankrupt,
is liquidated or dissolved, or dies, shall be deemed to be a
Partnership Interest of a Limited Partner, and such Partner
(or his committee, trustee in bankruptcy, executors or
a administrators, or other legal representatives) shall be
deemed to~be a Limited Partner and (iv) this Agreement shall
be amended to reflect such continuation.
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