DEATH OF LIMITED PARTNER. The death of a Limited Partner shall not terminate the Partnership. Upon the death of a Limited Partner, the personal representative of the deceased Limited Partner shall have all the rights of the Limited Partner in the Partnership to the extent of the deceased Limited Partner's interest therein, subject to the terms and conditions of this Agreement, and the estate of the deceased Limited Partner shall be liable for all of his or her liabilities as a Limited Partner, as well as the execution of all documents required to effect, subject to the terms of Section 5.03, the appropriate substitution of the decedent's estate or beneficiary as a Limited Partner hereunder.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Windsor Park Properties 3), Windsor Park Properties 7, N Tandem Trust
DEATH OF LIMITED PARTNER. The death of a Limited Partner shall not terminate the Partnership. Upon the death of a Limited Partner, the personal representative of the deceased Limited Partner shall have all the rights of the Limited Partner in the Partnership to the extent of the deceased Limited Partner's ’s interest therein, subject to the terms and conditions of this Agreement, ; and the estate of the deceased Limited limited Partner shall be liable for all of his or her liabilities as a Limited Partner, as well as the execution of all documents required to effect, subject to the terms of Section 5.03, the appropriate substitution of the decedent's ’s estate or beneficiary as a Limited Partner hereunder.
Appears in 1 contract
Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 3)
DEATH OF LIMITED PARTNER. The death of a Limited Partner shall not terminate the Partnership. Upon the death of a Limited Partner, the personal representative of the deceased Limited Partner shall have all the rights of the Limited Partner in to the Partnership to the extent of the deceased Limited Partner's ’s interest therein, subject to the terms and conditions of this Agreement, and the estate of the deceased Limited Partner shall be liable for all of his or her liabilities as a Limited Partner, as well as the execution of all documents required to effect, subject to the terms of Section 5.03, the appropriate substitution of the decedent's ’s estate or beneficiary as a Limited Partner hereunder.
Appears in 1 contract
Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 2)
