Common use of Incapacity, Death, Insolvency or Bankruptcy Clause in Contracts

Incapacity, Death, Insolvency or Bankruptcy. Where a Person becomes entitled to Units on the incapacity, death, insolvency, or bankruptcy of a Limited Partner, or otherwise by operation of law, in addition to the other requirements of this Agreement, such entitlement will not be recognized or entered into the Register until such Person: (a) has produced evidence satisfactory to the General Partner of such entitlement: (b) has agreed in writing to be bound by the terms of this Agreement and to assume the obligations of a Limited Partner under this Agreement; and (c) has delivered such other evidence, approvals and consents in respect to such entitlement as the General Partner may require and as may be required by law or by this Agreement.

Incapacity, Death, Insolvency or Bankruptcy. (1) Where a Person person becomes entitled to Units or other interest in the Partnership on the incapacity, death, insolvency, or bankruptcy of a Limited Partner, or otherwise by operation of law, in addition to the other requirements of this Agreement, such entitlement will not be recognized or entered into the Register until such Personperson: (a) has produced evidence satisfactory to the General Partner of such entitlement:; (b) has agreed in writing to be bound by the terms of this Agreement and to assume the obligations of a Limited Partner under this Agreement; and (c) has delivered such other evidence, approvals and consents in respect to such entitlement as the General Partner may require and as may be required by law or by this Agreement.