Common use of Limitation of Liability of Limited Partners Clause in Contracts

Limitation of Liability of Limited Partners. No Limited Partner shall be liable for any debts, liabilities, contracts or obligations of the Partnership. A Limited Partner shall be liable to the Partnership only to make payments of its Capital Contribution, if any, as and when due hereunder. After its Capital Contribution is fully paid, no Limited Partner shall, except as otherwise required by the Act, be required to make any further Capital Contributions or other payments or lend any funds to the Partnership.

Limitation of Liability of Limited Partners. No Limited Partner shall be liable for any debts, liabilities, contracts contracts, or obligations of the Partnership. A Limited Partner shall be liable to the Partnership only to make payments of its Capital Contribution, if any, as and when due hereunder. After its Capital Contribution is fully paid, no Limited Partner shall, except as otherwise required by the Act, be required to make any further Capital Contributions or other payments or lend any funds to the Partnership.

Limitation of Liability of Limited Partners. No Limited Partner shall be liable for or subject to any debtsobligations, liabilitieslosses, contracts debts or obligations liabilities of the Partnership. A Partnership at any time in excess of the sum of (a) the amount of such Limited Partner shall be liable to the Partnership only to make payments of its Partner’s Capital ContributionAccount at such time, if any, and (b) as and when due hereunder. After its Capital Contribution is fully paid, no Limited Partner shall, except as otherwise specifically required by the Partnership Act, be required to make any further Capital Contributions or other payments or lend any funds to the Partnership.