Common use of Limited Partnership Agreement Clause in Contracts

Limited Partnership Agreement. The Partners hereby execute this Agreement for the purpose of establishing the affairs of the Partnership and the conduct of its business in accordance with the provisions of the Pennsylvania Act. The Partners hereby agree that during the term of the Partnership set forth in Section 2.6 the rights and obligations of the Partners and Assignees with respect to the Partnership will be determined in accordance with the terms and conditions of (a) this Agreement, and (b) the Pennsylvania Act, except where the Pennsylvania Act provides that such rights and obligations specified in the Pennsylvania Act shall apply "unless otherwise provided in a limited partnership agreement" or words of similar effect, and such rights and obligations are set forth in this Agreement.

Limited Partnership Agreement. The Partners hereby execute this Agreement for the purpose of establishing the affairs of the Partnership and the conduct of its business in accordance with the provisions of the Pennsylvania Act. The Partners hereby agree that during the term of the Partnership set forth in Section 2.6 the rights and obligations of the Partners and Assignees Unitholders with respect to the Partnership will be determined in accordance with the terms and conditions of (a) this Agreement, and (b) the Pennsylvania Act, except where the Pennsylvania Act provides that such rights and obligations specified in the Pennsylvania Act shall apply "unless otherwise provided in a limited partnership agreement" or words of similar effect, and such rights and obligations are set forth in this Agreement, the Pennsylvania Act.