Continuation of Partnership. (a) Notwithstanding any other provision of this Agreement to the contrary, upon the occurrence of any event that would result in there being no limited partner in the Partnership, the Partnership shall not dissolve and the General Partner or the personal representative of the last remaining Limited Partner shall agree in writing to continue the business of the Partnership and to the admission of the personal representative of the Limited Partner or its nominee or designee to the Partnership as a limited partner, effective as of the occurrence of the event that caused the last Limited Partner to cease to be a limited partner. Such remaining Limited Partner is hereby authorized to continue the business of the Partnership without dissolution.
Appears in 9 contracts
Samples: Limited Partnership Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Limited Partnership Agreement (Usaa Acceptance LLC), Limited Partnership Agreement (Usaa Acceptance LLC)