Incapacity of Partners. If a Partner (including the Managing Partner) becomes Incapacitated, the Person who is its legal representative shall have all the rights of a Partner for the purpose of settling or managing its estate and such power as the Incapacitated Partner possessed to assign all or any part of its Interest and to join with such assignee in satisfying conditions precedent to such assignee becoming a Substituted Partner. The Incapacity of a Partner shall not dissolve the NPI Partnership.
Appears in 4 contracts
Samples: Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship), Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship), Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship)
Incapacity of Partners. If a Partner (including the a Managing Partner) becomes Incapacitated, the Person who is its legal representative shall have all the rights of a Partner for the purpose of settling or managing its estate and such power as the Incapacitated Partner possessed to assign all or any part of its Interest and to join with such assignee in satisfying conditions precedent to such assignee becoming a Substituted Partner. The Incapacity of a Partner shall not dissolve the NPI Production Partnership.
Appears in 3 contracts
Samples: Partnership Agreement (Geodyne Energy Income LTD Partnership I-F), Partnership Agreement (Geodyne Energy Income LTD Partnership I-F), Partnership Agreement (Geodyne Energy Income LTD Partnership I-F)
Incapacity of Partners. If a Partner (including the Managing Partner) becomes Incapacitated, the Person who is its legal representative shall have all the rights of a Partner for the purpose of settling or managing its estate and such power as the Incapacitated Partner possessed to assign all or any part of its Interest and to join with such assignee in satisfying conditions precedent to such assignee becoming a Substituted Partner. The Incapacity of a Partner shall not dissolve the NPI Production Partnership.
Appears in 1 contract
Samples: Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B)
