Common use of Continuation of the Partnership Clause in Contracts

Continuation of the Partnership. Upon the occurrence of an event described in Section 8.1(b) or (d), the Partnership shall be deemed to be dissolved and reconstituted if, (a) there remains at least one general partner, in which case the business of the Partnership may be carried on by the remaining general partner (or general partners), or (b) within 90 days after such event, a Majority Interest (i) elects in writing to continue the business of the Partnership and, (ii) to the extent that they desire or if there are no remaining general partners, agrees to the appointment, effective as of the date of withdrawal of the General Partner, of one or more new general partners. If the remaining general partners, if any, do not elect to carry on the business of the Partnership, or if no election to continue the Partnership is made by all remaining Partners within 90 days of the event of dissolution, the Partnership shall conduct only activities necessary to wind up its affairs. If an election to continue the Partnership is made upon the occurrence of an event described in Section 8.1(b) or (d), then:

Continuation of the Partnership. Upon the occurrence of an event described in Section 8.1(b) or (d)Section 8.1(d) of this Agreement, the Partnership shall be deemed to be dissolved and reconstituted if, (a) there remains at least one general partner, in which case the business of the Partnership may be carried on by the remaining general partner (or general partners), or (b) within 90 days after such event, a Majority Interest all of the remaining Partners (i) elects elect in writing to continue the business of the Partnership and, (ii) to the extent that they desire or if there are no remaining general partners, agrees agree to the appointment, effective as of the date of withdrawal of the General Partner, of or one or more new general partners. If the remaining general partners, if any, do not elect to carry on the business of the Partnership, or if no election to continue the Partnership is made by all remaining Partners within 90 days of the event of dissolution, the Partnership shall conduct only activities necessary to wind up its affairs. If an election to continue the Partnership is made upon the occurrence of an event described in Section 8.1(b) or (d)Section 8.1(d) of this Agreement, then:

Continuation of the Partnership. Upon the occurrence of an event described in Section 8.1(b) or (d8.1(d), the Partnership shall be deemed to be dissolved and reconstituted if, (a) there remains at least one general partner, in which case the business of the Partnership may be carried on by the remaining general partner (or general partners), or (b) within 90 days after such event, a Majority Interest all of the remaining Partners (i) elects elect in writing to continue the business of the Partnership and, (ii) to the extent that they desire or if there are no remaining general partners, agrees agree to the appointment, effective as of the date of withdrawal of the General Partner, of one or more new general partners. If the remaining general partners, if any, do not elect to carry on the business of the Partnership, or if no election to continue the Partnership is made by all remaining Partners within 90 days of the event of dissolution, the Partnership shall conduct only activities necessary to wind up its affairs. If an election to continue the Partnership is made upon the occurrence of an event described in Section 8.1(b) or (d8.1(d), then: