Common use of Initial Limited Partner Clause in Contracts

Initial Limited Partner. The execution of this Agreement by the Initial Limited Partner constitutes his withdrawal as a limited partner of the Partnership with the consent of the General Partners as of the Effective Time. Because of such withdrawal, the Initial Limited Partner has no further right, interest or obligation of any kind whatsoever as a limited partner of the Partnership, effective immediately after the Effective Time. Any capital contribution of the Initial Limited Partner will be returned to him at the Effective Time.

Initial Limited Partner. The execution of this Agreement by the Initial Limited Partner constitutes his its withdrawal as a limited partner of the Partnership with the consent of the General Partners as of the Effective Time. Because of such withdrawal, the Initial Limited Partner has no further right, interest or obligation of any kind whatsoever as a limited partner of the Partnership, effective immediately after the Effective Time. Any capital contribution of the Initial Limited Partner will be returned to him it at the Effective Time.

Initial Limited Partner. The execution of this Agreement by the Initial Limited Partner constitutes his withdrawal as a limited partner of the Partnership with the consent of the General Partners as of the Effective TimePartners. Because of such withdrawal, the Initial Limited Partner has no further right, interest or obligation of any kind whatsoever as a limited partner of the Partnership, effective immediately after the Effective Timeadmission of any other Person as a Limited Partner. Any capital contribution of the Initial Limited Partner will be returned to him at on the Effective Timedate of his withdrawal.