Common use of Disabling Event Clause in Contracts

Disabling Event. The General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event, and thereafter, except as required by applicable law, the removed General Partner shall not have any of the powers, obligations or liabilities of a general partner of the Partnership under this Agreement or under applicable law. Subject to UST agreeing in writing to continue the business of the Partnership pursuant to Section 8.1(a)(ii), upon the occurrence of any Disabling Event the Partnership shall be dissolved and wound up in accordance with the provisions of Section 8.2. If the General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event and UST shall determine to continue the business of the Partnership pursuant to Section 8.1(a)(ii), notice of that determination shall be given to the General Partner by UST.