Effect of Incapacity. Except as otherwise provided herein, the Incapacity of a Partner shall not dissolve or terminate the Partnership. In the event of such Incapacity, the executor, administrator, guardian, trustee or other personal representative of the Partner that has experienced such Incapacity shall be deemed to be the assignee of such Partner’s Economic Interest and may, subject to the terms and conditions set forth in this Article IV, become a Partner.
Appears in 4 contracts
Samples: Agreement of Limited Partnership (Harbinger Group Inc.), Limited Partnership Agreement (Exco Resources Inc), Limited Partnership Agreement (Harbinger Group Inc.)
Effect of Incapacity. Except as otherwise provided herein, the Incapacity of a Partner shall not dissolve or terminate the PartnershipCompany. In the event of such Incapacity, the executor, administrator, guardian, trustee or other personal representative of the Incapacitated Partner that has experienced such Incapacity shall be deemed to be the assignee of such Partner’s Economic Interest Units or other interests in the Company and may, subject to Section 7.1, become a substituted Partner upon the terms and conditions set forth in this Article IV, become a PartnerSection 7.3.
Appears in 1 contract
