Common use of Continuing Liability after Transfer Clause in Contracts

Continuing Liability after Transfer. A transferor of Units will remain liable for reimbursement to the Partnership of any amount distributed to it by the Partnership that may be necessary to restore the capital of the Partnership to the amount existing immediately prior to such distribution, if such distribution resulted in reduction in the capital of the Partnership and in the incapacity of the Partnership to pay its debts as and when such debts become due.

Continuing Liability after Transfer. A transferor of Units will remain liable for reimbursement to the Partnership of any amount amounts distributed to it by the Partnership that may be necessary to restore the capital Capital of the Partnership to the amount existing immediately prior to such distribution, if such distribution resulted in reduction in the capital Capital of the Partnership and in the incapacity inability of the Partnership to pay its debts as and when such debts become due.