Constitution of Partnership. Party B is a limited partnership formed under the Limited Partnerships Act (Ontario), a limited partner of which is, except as expressly required by law, only liable for any of its liabilities or any of its losses to the extent of the amount that the limited partner has contributed or agreed to contribute to its capital. Without prejudice to any rights of Party A against any former or departing partner of Party B, upon any reconstitution of NBC Covered Bond (Legislative) Guarantor Limited Partnership, the rights and obligations of Party B under this Agreement and any Transaction thereunder shall become the rights and obligations of the partnership as newly constituted and, for greater certainty, Party A has the rights under Section 6 with respect to any and all Transactions entered into by Party B however constituted.
Constitution of Partnership. Party B is a limited partnership formed under the Limited Partnerships Act (Ontario), a limited partner of which is, except as expressly required by law, only liable for any of its liabilities or any of its losses to the extent of the amount that the limited partner has contributed or agreed to contribute to its capital. Without prejudice to any rights of Party A against any former or departing partner of Party B, upon any reconstitution of the partnership Party B, the rights and obligations of Party B under this Agreement and any Transaction thereunder shall become the rights and obligations of the partnership as newly constituted and, for greater certainty, Party A has the rights under Section 6 with respect to any and all Transactions entered into by Party B however constituted.
Constitution of Partnership. The Partners hereby associate themselves as a partnership under the laws of the Commonwealth of Puerto Rico and have elected to be treated as a Special Partnership in accordance with the provisions of the Puerto Rico Income Tax Act of 1954, as amended (the "ITA") and Act Number 3 of September 27, 1985, amending Article 1589 of the Civil Code of Puerto Rico, for the purpose of engaging in the business of land development in general, the building and sale of residential and/or commercial properties, owning of a race track, leasing of buildings and structures, and performing any and all acts and services necessary or desirable in connection with the foregoing, including but not limited to the purchase, lease or otherwise the acquisition and use of real or personal property, entering into, making, performing and carrying out of contracts, borrowing money for the purposes of the Partnership and securing any such borrowing through the issuance of required loan documents, collateral agreements, securities and other guarantees proper or necessary to secure repayment thereof, and in general to do and perform any and all acts authorized to be done by partnerships under the laws of the Commonwealth of Puerto Rico.
Constitution of Partnership. The Partners hereby associate themselves as a partnership under the laws of the Commonwealth of Puerto Rico and have elected to be treated as a Special Partnership in accordance with the provisions of the Puerto Rico Income Tax Act of 1954, as amended (the "ITA") and Act Number 3 of September 27, 1985, amending Article 1589 of the Civil Code of Puerto Rico, for the purpose of engaging in the business of land development in general, the building and sale of residential and/or commercial properties, owning of a race track, leasing of buildings and structures, and performing any and all acts and services necessary or desirable in connection with the foregoing, including but not limited to the purchase, lease or otherwise the acquisition and use of real or personal property, entering into, making, performing and carrying out of contracts, borrowing money for the purposes of the Partnership and securing any such borrowing through the issuance of required loan documents, collateral agreements, securities and other guarantees proper or necessary to secure repayment thereof, and in general to do and perform any and all acts authorized to be done by partnerships under the laws of the Commonwealth of Puerto Rico. Two: Name and Principal Office of Partnership. The name of the Partnership shall be HOUSING DEVELOPMENT ASSOCIATES S.E., and the principal offices of the Partnership shall be located at 650 Mxxxx Xxxxxx Avenue, Dxxxx Xxxxxxxx, Xxxxxxx Xxxxx, Xxxx Xxx, Xxxxxx Xxxx 00000; postal address shall be G.P.O. Bxx 000000, Xxx Xxxx, Xxxxxx Rico 00936-3908, which location may be (PAGE) changed by the Managing Partner of the Partnership from time to time.
Constitution of Partnership. The Partners agree with effect from the Effective Date to carry on the business of ___________________________________________________________ (describe business), In a partnership under the name _________________________________________________ (name of partnership)
