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, neither the General Partner nor its successors in interest shall have any of the powers, obligations or liabilities (save as regard any obligation or liability arising prior to or as a consequence of such Disabling Event) of a general partner of the Partnership under this Agreement or under applicable law. Subject to Section 9.1(b), upon the occurrence of any Disabling Event the Partnership shall be dissolved and wound up in accordance with the provisions of Section 9.2. If the General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event and all of the Limited Partners shall determine to continue the business of the Partnership pursuant to Section 9.1(b), notice of that determination shall be given to the General Partner by a party authorized by such Limited Partners to give such notice on behalf of such Limited Partners.

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, neither the General Partner nor its successors in interest shall have any of the powers, obligations or liabilities (save as regard any obligation or liability arising prior to or as a consequence of such Disabling Event) of a general partner of the Partnership under this Agreement or under applicable law. Subject to Section 9.1(b9.1(a)(ii), upon the occurrence of any Disabling Event the Partnership shall be dissolved and wound up in accordance with the provisions of Section 9.2. The General Partner shall promptly give notice to the Limited Partners of the occurrence of any Disabling Event. If the General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event and all a Majority in Interest of the Limited Partners shall determine to continue the business of the Partnership pursuant to Section 9.1(b9.1(a)(ii), notice of that determination shall be given to the General Partner by a party authorized by such Limited Partners to give such notice on behalf of such Limited Partners.

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, neither the General Partner nor its successors in interest shall have any of the powers, obligations or liabilities (save as regard any obligation or liability arising prior to or as a consequence of such Disabling Event) of a general partner of the Partnership under this Agreement or under applicable law. Subject to Section 9.1(b9.1(iii), upon the occurrence of any Disabling Event the Partnership shall be dissolved and wound up and thereafter dissolved in accordance with the provisions of Section 9.2. The General Partner shall promptly give notice to the Limited Partners of the occurrence of any Disabling Event. If the General Partner shall cease to be the general partner of the Partnership upon the occurrence of a Disabling Event and all a Majority in Interest of the Limited Partners shall determine to appoint a successor general partner to continue the business of the Partnership pursuant to Section 9.1(b)Partnership, notice of that determination shall be given to the General Partner by a party authorized by such Limited Partners to give such notice on behalf of such Limited Partners.