Liability of a Withdrawn or Removed General Partner. Any General Partner who shall withdraw or be removed from the Partnership, or who shall sell, transfer, or assign its Partnership Interest, shall remain liable for obligations and liabilities incurred by it as General Partner prior to the time such withdrawal, removal, sale, transfer, or assignment shall have become effective, but it shall be free of any obligation or liability incurred on account of the activities of the Partnership from and after the time such withdrawal, removal, sale, transfer, or assignment shall have become effective.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Technology Funding Partners Iii L P), Limited Partnership Agreement (Technology Funding Venture Partners V), Limited Partnership Agreement (Technology Funding Venture Partners Iv)
