Liability of Limited Partners. Except as provided in the following sentence, notwithstanding the provisions hereof for the allocation of the Partnership’s net losses and for the distribution of cash to the Partners by the Partnership, the Limited Partners shall not be responsible or obligated to any third parties for any debts or liabilities of the Partnership in excess of such Limited Partner’s unrecovered contributions to the capital of the Partnership and such Limited Partner’s share of any undistributed profits of the Partnership.
Appears in 123 contracts
Samples: Agreement (Carrabba's/Colorado-I, Limited Partnership), Agreement (Carrabba's/Colorado-I, Limited Partnership), Agreement of Limited Partnership (Carrabba's/Colorado-I, Limited Partnership)
