Common use of No Termination by Admission or Incapacity of Limited Partners Clause in Contracts

No Termination by Admission or Incapacity of Limited Partners. Neither the admission to the Partnership of any additional Limited Partner, nor the transfer of an Interest, nor any Event of Dissolution with respect to any of the Limited Partners will affect the Partnership’s existence in any manner whatsoever. If an Event of Dissolution shall occur with respect to a Limited Partner, his Representative shall have the same rights for the purpose of settling his estate or business and shall be subject to the same limitations, conditions, and liabilities as applied to the Limited Partner; provided, however, that upon the death, dissolution or incapacity of a Limited Partner, the successor-in-interest to such Limited Partner shall have the right to become a Substitute Limited Partner as provided in Section 9.3 of this Agreement.

No Termination by Admission or Incapacity of Limited Partners. Neither the admission to the Partnership of any additional Limited Partner, nor the transfer of an Interest, Interest nor any Event of Dissolution with respect to any of the Limited Partners will affect the Partnership’s existence in any manner whatsoever. If an Event of Dissolution shall occur with respect to a Limited Partner, his Representative shall have the same rights for the purpose of settling his estate or business and shall be subject to the same limitations, conditions, and liabilities as applied to the Limited Partner; provided, however, that upon the death, dissolution or incapacity of a Limited Partner, the successor-in-interest to such Limited Partner shall have the right to become a Substitute Limited Partner as provided in Section 9.3 of this Agreement.