Bankruptcy or Dissolution of the General Partner. In the event of the bankruptcy of the General Partner or other events that cause the General Partner to cease to be a general partner under Sections 17-402(a)(6), (7), (8), (9), (10), (11) or (12) of the Act, the General Partner shall cease to be the general partner of the Partnership and its Interest shall terminate; provided, however, that such termination shall not affect any rights or liabilities of the General Partner which matured prior to such event, or the value, if any, at the time of such event of the Interest of the General Partner.
Appears in 6 contracts
Samples: Limited Partnership Agreement (Industrial Property Trust Inc.), Limited Partnership Agreement (Industrial Property Trust Inc.), Limited Partnership Agreement (Industrial Property Trust Inc.)
Bankruptcy or Dissolution of the General Partner. In the event of the bankruptcy or dissolution of the General Partner or other events that cause the General Partner to cease to be a general partner under Sections 17-402(a)(6), (7), (8), (9), (10), (11) or (12) of the ActPartner, the General Partner shall immediately cease to be the general partner of the Partnership General Partner and its Interest shall terminate; provided, however, that such termination shall not affect any rights or liabilities of the General Partner which matured prior to such event, or the value, if any, at the time of such event of the Interest of the General Partner.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Desert Springs Marriott Limited Partnership), Agreement of Limited Partnership (Hanover Marriott Limited Partnership)
Bankruptcy or Dissolution of the General Partner. In the event of the bankruptcy of the General Partner or other events event that cause causes the General Partner to cease to be a general partner under Sections 17-402(a)(6402(6), (7), (8), (9), or (10), (11) or (12) of the Act, the General Partner shall cease to be the general partner of the Partnership General Partner and its Interest shall terminate; provided, however, that such termination shall not affect effect any rights or liabilities of the General Partner which matured prior to such event, or the value, if any, at the time of such event of the Interest of the General Partner.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Fairfield Inn by Marriott LTD Partnership), Limited Partnership Agreement (Fairfield Inn by Marriott LTD Partnership)
Bankruptcy or Dissolution of the General Partner. In the event of the bankruptcy of the General Partner or other events event that cause causes the General Partner to cease to be a general partner under Sections 17-402(a)(6402(6), (7), (8), (9), or (10), (11) or (12) of the Act, the General Partner shall cease to be the general partner of the Partnership General Partner and its Interest shall terminate; provided, however, that such termination shall not affect any rights or liabilities of the General Partner which matured prior to such event, or the value, if any, at the time of such event of the Interest of the General Partner.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Marriott Diversified American Hotels L P)
