Common use of Partnership Account Clause in Contracts

Partnership Account. 7.1 If you are, and your Account is opened in the name of, a partnership (other than a partnership having separate legal personality), any change in: (a) the name of the partnership; (b) the partners of the partnership as a result of death, retirement or introduction of new partner; or (c) the constitution of the partnership, shall not affect your Liabilities which shall continue and be binding on you and all partners from time to time constituting the partnership. We shall be entitled to debit your Account at any time in respect of any sum howsoever due or owed to us by any partner from time to time constituting the partnership.

Appears in 18 contracts

Samples: Terms and Conditions, Terms and Conditions, Terms and Conditions

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!