Common use of Death or Bankruptcy of Limited Partner Clause in Contracts

Death or Bankruptcy of Limited Partner. In the event of dissolution or bankruptcy of the Limited Partner, the General Partner shall purchase from that Limited Partner or its successor in interest or legal representative, as applicable, such Limited Partner's Partnership Interest. With respect to the Partnership Interest held by the Limited Partner or its successor in interest or its legal representative, the General Partner may make the following elections at any time thereafter by written notice to the Limited Partner, its successor in interest or its legal representative, as applicable:

Appears in 4 contracts

Samples: Delta Mine Holding CO, Delta Mine Holding CO, Delta Mine Holding CO

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