Common use of General Partners Clause in Contracts

General Partners. A. The name, last known mailing address and current Capital Contribution of each General Partner are reflected in the books and records of the Partnership. B. Any General Partner, in addition to being a General Partner, may also become a Limited by complying with the provisions of Section 3.4 hereof. In such event, said General Partner shall have all the rights and powers and be subject to all the restrictions of a General Partner, except that, in respect to his Capital Contribution as a Limited, he shall have the rights against the other Partners which he would have had if he were not also a General Partner. C. From time to time, the Managing Partner may allow one or more General Partners to increase their Capital Contributions. Such increased Capital Contributions shall be made in such amount and manner and at such time as determined by the Managing Partner and the General Partner's Percentages shall be appropriately adjusted and transferred. All such changes shall be reflected in the books and records of the Partnership.

Appears in 8 contracts

Samples: Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies Lp LLP), Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies Lp LLP), Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies Lp LLP)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!