Common use of No Priorities of Partners Clause in Contracts

No Priorities of Partners. Except as expressly provided in this Agreement, (a) no Partner shall have priority over any other Partner as to the return of the amount of its, his or her Capital Contributions or as to income of the Partnership, (b) no Partner shall be entitled to demand or receive a return of or interest on its, his or her Capital Contributions or Capital Account, and (c) no Partner shall withdraw any portion of its, his or her Capital Contributions or receive any distributions from the Partnership as a return of capital on account of such Capital Contributions. Without limiting the foregoing, each Limited Partner acknowledges that such Limited Partner is not entitled to receive any distribution pursuant to Section 17-604 of the Act in connection with the withdrawal of such Limited Partner from the Partnership.

No Priorities of Partners. Except as expressly provided in this Agreement, (a) no Partner shall have priority over any other Partner as to the return of the amount of its, his or her such Partner’s Capital Contributions or as to income of the Partnership, (b) no Partner shall be entitled to demand or receive a return of or interest on its, his or her such Partner’s Capital Contributions or Capital Account, and (c) no Partner shall withdraw any portion of its, his or her such Partner’s Capital Contributions or receive any distributions from the Partnership as a return of capital on account of such Capital Contributions. Without limiting the foregoing, each Limited Partner acknowledges that such Limited Partner is not entitled to receive any distribution pursuant to Section 17-604 of the Act in connection with the withdrawal of such Limited Partner from the Partnership.