Common use of Claims of the Partners or Third Parties Clause in Contracts

Claims of the Partners or Third Parties. The Partners and former Partners shall look first to the Partnership’s assets for the return of their Capital Contributions, and if the assets of the Partnership remaining after payment of or due provision for all debts, liabilities and obligations of the Partnership are insufficient to return such Capital Contributions, the Partners shall look to the General Partner for a return of their Capital Contributions; provided, nothing contained herein shall be deemed to limit the rights of a Partner under applicable Law. In the event any Partner other than the General Partner has a deficit balance in its Capital Account at the time of the Partnership’s dissolution, it shall not be required to restore such account to a positive balance or otherwise make any payments to the Partnership or its creditors or other third parties in respect of such deficiency.

Claims of the Partners or Third Parties. The Partners and former Partners shall look first to the Partnership’s 's assets for the return of their Capital Contributions, and if the assets of the Partnership remaining after payment of or due provision for all debts, liabilities and obligations of the Partnership are insufficient to return such Capital Contributions, the Partners shall look to the General Partner for a return of their Capital ContributionsContributions ; providedprovided , nothing contained herein shall be deemed to limit the rights of a Partner under applicable Law. In the event any Partner other than the General Partner has a deficit balance in its Capital Account at the time of the Partnership’s 's dissolution, it shall not be required to restore such account to a positive balance or otherwise make any payments to the Partnership or its creditors or other third parties in respect of such deficiency.

Claims of the Partners or Third Parties. The Partners and former Partners shall look first to the Partnership’s assets for the return of their Capital Contributions, and if the assets of the Partnership remaining after payment of or due provision for all debts, liabilities and obligations of the Partnership are insufficient to return such Capital Contributions, the Partners shall look to the General Partner for a return of their Capital Contributions; provided, nothing contained herein shall be deemed to limit the rights of a Partner under applicable Lawlaw. In the event any Partner other than the General Partner has a deficit balance in its Capital Account at the time of the Partnership’s dissolution, it shall not be required to restore such account to a positive balance or otherwise make any payments to the Partnership or its creditors or other third parties in respect of such deficiency.