Common use of Effect of Death, Dissolution or Bankruptcy Clause in Contracts

Effect of Death, Dissolution or Bankruptcy. Upon the death, incompetence, bankruptcy, insolvency, liquidation or dissolution of a Limited Partner, the rights and obligations of that Limited Partner under this Agreement shall inure to the benefit of, and shall be binding upon, that Limited Partner’s successor(s), estate or legal representative, and each such Person shall be treated as an assignee of that Limited Partner’s interest for purposes of Article 11 until such time as such Person may be admitted as a Limited Partner pursuant to that Article.

Effect of Death, Dissolution or Bankruptcy. Upon the death, incompetence, bankruptcy, insolvency, liquidation or dissolution of a Limited Partner, the rights and obligations (to the extent permitted by law) of that Limited Partner under this Agreement shall inure accrue to the benefit of, and shall be binding upon, that Limited Partner’s successor(s), estate or legal representative, and each such Person shall be treated as an assignee of that Limited Partner’s interest for purposes of Article 11 until such time as such Person may be admitted as a Limited Partner pursuant to that Article.

Effect of Death, Dissolution or Bankruptcy. Upon the death, incompetence, bankruptcy, insolvency, liquidation liquidation, or dissolution of a Limited Partner, the rights and obligations of that Limited Partner under this Agreement shall inure accrue to the benefit of, and shall be binding upon, that Limited Partner’s successor(s), estate estate, or legal representative, and each such Person shall be treated as an assignee unadmitted transferee of that Limited Partner’s interest for purposes of Article 11 Interest, as described in Section 15.04, unless and until such time as such Person may be admitted as a Limited Partner pursuant to that ArticleSection 15.05.

Effect of Death, Dissolution or Bankruptcy. Upon To the fullest extent permitted by law, upon the death, incompetence, bankruptcy, insolvency, liquidation or dissolution of a Limited Partner, the rights and obligations of that such Limited Partner under this Agreement shall inure to the benefit of, and shall be binding upon, that such Limited Partner’s successor(s), estate or legal representative, and each such Person shall be treated as an assignee of that such Limited Partner’s interest for purposes of Article 11 until such time as such Person may be admitted as a Limited Partner pursuant to that Article.