DEATH, LEGAL INCOMPETENCY, ETC. of a Limited Partner. The death, legal incompetency, insolvency, dissolution or bankruptcy of a Limited Partner shall not dissolve or terminate the Partnership. Upon the death or incapacity of an individual Limited Partner, such individual Limited Partner's interest in the Partnership shall be transferred either by will, the laws of intestacy or otherwise to the legal representative or successor of such individual Limited Partner.
Appears in 7 contracts
Samples: Limited Partnership Agreement (Palace Reit), Limited Partnership Agreement (Ventas Inc), Limited Partnership Agreement (Chastain Capital Corp)
DEATH, LEGAL INCOMPETENCY, ETC. of a Limited Partner. The death, legal incompetency, insolvency, dissolution or bankruptcy of a Limited Partner shall not dissolve or terminate the Partnership. Upon the death or incapacity of an individual Limited Partner, such individual Limited Partner's ’s interest in the Partnership shall be transferred either by will, the laws of intestacy or otherwise to the legal representative or successor of such individual Limited Partner.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Erp Operating LTD Partnership), Limited Partnership Agreement (Equity Residential)
DEATH, LEGAL INCOMPETENCY, ETC. of a Limited Partner. The death, legal incompetency, insolvency, dissolution or bankruptcy of a Limited Partner shall not dissolve or terminate the Partnership. Upon the death or incapacity of an individual Limited Partner, such individual Limited Partner's ’s interest in the Partnership shall be transferred either by will, the laws of intestacy or otherwise to the legal representative or successor of such individual Limited Partner.. ACTIVE/98509230.8
Appears in 1 contract
Samples: Limited Partnership Agreement (Acadia Realty Trust)
