Chargebacks to Current or Former Partners Sample Clauses

Chargebacks to Current or Former Partners. Even if a Limited Partner has rightfully received the return in whole or in part of its capital account, whether upon withdrawal or distribution, it shall nevertheless remain liable to the Partnership for any sum, not in excess of the amount returned, plus interest from the date of withdrawal or distribution in an amount deemed equitable by the General Partner for loans of comparable maturity, to the extent necessary to discharge such Partner’s allocable share of any loss, liability or expense attributable to events arising before such return. Any Limited Partner found liable to the Partnership under this Paragraph 9(e) shall also be liable for any and all costs and expenses incurred by the Partnership, including but not limited to attorneys’ fees and costs of litigation, in connection with seeking the return of the amounts due hereunder. Each Partner agrees, by subscribing for an Interest, to repay, if such Partner has withdrawn capital or received a distribution from the Partnership, and irrespective of whether such Partner remains a Partner, to the Partnership any amount (including interest from the date of withdrawal or distribution) which the General Partner may reasonably determine to be due to the Partnership from such Partner, for example, due to any claims arising (prior or subsequent to such Partner’s withdrawal from the Partnership) relating to events or circumstances (whether known or unknown at the time of such Partner’s withdrawal) in existence while such Partner was a Partner in the Partnership, or in the event that the net asset value at which such Partner was permitted to withdraw is later determined to have been overstated or otherwise miscalculated due to circumstances, whether known or unknown to the General Partner, in effect as of the date of such whole or partial withdrawal. In no event shall any provision of this Paragraph 9(e) require any Limited Partner to repay to the Partnership any amounts in excess of the amounts distributed to such Limited Partner by the Partnership or withdrawn from the Partnership by such Limited Partner, plus interest thereon as provided above.
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Related to Chargebacks to Current or Former Partners

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