Common use of Liability of Partners and Investors Clause in Contracts

Liability of Partners and Investors. A. Except as provided in Section 17-607 of the Act, or in Section 3.1 with respect to the Subordinated Limited Partner, the Limited Partners and Investors shall be liable only to pay their Capital Contributions and no Limited Partner or Investor will be personally liable for the debts, liabilities, contracts, or other obligations of the Partnership.

Appears in 6 contracts

Samples: Agreement (Realty Parking Properties Ii Lp), Limited Partnership Agreement (Realty Parking Properties Lp), Limited Partnership Agreement (Realty Parking Properties Lp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.