Additional General Partners Shall Have Contingent Liability. Upon conversion the Additional General Partners shall be Limited Partners entitled to limited liability; however, they shall remain liable to the Partnership for any additional Capital Contribution required for their proportionate share of any Partnership obligation or liability arising before the conversion of their Units as provided in Section 3.05(b)(2).
Appears in 10 contracts
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.)
Additional General Partners Shall Have Contingent Liability. Upon conversion the Additional General Partners shall be Limited Partners entitled to limited liability; : however, they shall remain liable to the Partnership for any additional Capital Contribution required for their proportionate share of any Partnership obligation or liability arising before the conversion of their Units as provided in Section 3.05(b)(23.05(h)(2).
Appears in 2 contracts
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.)
Additional General Partners Shall Have Contingent Liability. Upon conversion the Additional General Partners shall be Limited Partners entitled to limited liability; : however, they shall remain liable to the Partnership for any additional Capital Contribution required for their proportionate share of any Partnership obligation or liability arising before the conversion of their Units as provided in Section §3.05(b)(2).,
Appears in 1 contract
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.)
