Common use of Interim Manager Clause in Contracts

Interim Manager. If the Partnership is dissolved as a result of the General Partner's being a Bankrupt Partner, the Limited Partner may appoint an interim manager of the Partnership (the "Interim Manager"), who will have and may exercise only the rights, powers, and duties of a general partner necessary to preserve the Partnership assets, until (a) a new general partner, if any, is elected, if the Partnership is reconstituted or (b) the Liquidating Manager is appointed, if the Partnership is not reconstituted as permitted by Section 9. 1. The Interim Manager will not be liable as a general partner to the Partners.

Interim Manager. If the Partnership is dissolved as a result of and there is no remaining the General Partner's being , a Bankrupt Partner, Majority in Interest of the Limited Partner Partners may appoint an interim manager of the Partnership (the "Interim Manager")Partnership, who will have and may exercise only the rights, powers, and duties of a general partner the General Partner necessary to preserve the Partnership assets, until (a) a new general partnerthe General Partner, if any, is elected, if the Partnership is reconstituted or (b) the Liquidating Manager liquidating manager is appointed, if the Partnership is not reconstituted as permitted by Section 9. 1reconstituted. The Interim Manager interim manager will not be liable as a general partner the General Partner to the Partnerspartners.

Interim Manager. If the Partnership is dissolved as dissolved, a result Majority in Interest of the General Partner's being a Bankrupt Partner, the Limited Partner Partners may appoint an interim manager of the Partnership (the "Interim Manager")Partnership, who will shall have and may exercise only the rights, powers, powers and duties of a general partner necessary to preserve the Partnership assets, until (a) a new general partner, if any, is elected, if the Partnership is reconstituted or (b) the Liquidating Manager is appointed, if the Partnership is not reconstituted as permitted by Section 9. 1reconstituted. The Interim Manager will interim manager shall not be liable as a general partner to the Partners.