Common use of Continuation of the Partnership Clause in Contracts

Continuation of the Partnership. If the Partnership is terminated pursuant to clauses 11.1.1 or 11.1.3, the Partnership may be reconstituted and its business continued pursuant to the unanimous written consent of all Limited Partners, electing to continue the Partnership and electing a new General Partner, which consent must be obtained within 60 days after all Partners have been notified of the event of termination, whereupon the existing General Partner, if the Partnership is terminated pursuant to the provisions of clause 11.1.1 as a result of the bankruptcy, insolvency, dissolution or liquidation of the General Partner or pursuant to the provisions of clause 11.1.3 shall cease to be the General Partner and shall not be entitled to any compensation whatsoever as a result of the cessation of its entitlement to the General Partner's Share after receipt by it of all payments to which the General Partner is entitled up to the date of its ceasing to be the General Partner under clauses 7.4 and 7.8.

Continuation of the Partnership. If the Partnership is terminated or it is prepared to be terminated pursuant to clauses 11.1.1 or 11.1.3Clause 10.2.2.1, 10.2.2.3 and 10.2.2.5, the Partnership may be continued or alternatively reconstituted and its business continued pursuant to the unanimous written consent of all Limited Partners, electing to continue the Partnership and electing a new General PartnerManager, which consent must be obtained within 60 days after all Partners have been notified of the event of termination or the proposal event of termination, whereupon the existing General PartnerManager, if the Partnership is terminated pursuant to the provisions of clause 11.1.1 Clause 10.2.2.1 as a result of the bankruptcy, insolvency, dissolution or liquidation of the General Partner Manager or pursuant to the provisions of clause 11.1.3 Clause 10.2.2.1 shall cease to be the General Partner Manager and shall not be entitled to any compensation whatsoever as a result of the cessation of its entitlement to the General Partner's ’s Share after receipt by it of all payments to which the General Partner is entitled up to the date of its ceasing to be the General Partner under clauses 7.4 Clauses 6.5.6 to 6.8 and 7.86.10.