Common use of Resignation of a General Partner Clause in Contracts

Resignation of a General Partner. Any General Partner may resign upon 14 days notice to all of the Partners. In any event the resigning General Partner’s interest shall be converted to a Limited Partnership interest. The resigning General Partner shall continue to be liable, as a General Partner, to the creditors of the Partnership for the liabilities and obligations of the Partnership which accrue, or result from transactions or activities entered into prior to the filing of record of the Amended Certificate of Limited Partnership.

Resignation of a General Partner. Any General Partner may resign upon 14 days notice thirty (30) days’ notices to all of the Partners, and a Successor General Partner shall be determined as provided in Section 10.01. In any event the resigning General Partner’s interest shall be converted to a Limited Partnership interestInterest as provided in paragraph (c) of Section 10.01. The resigning General Partner shall continue to be liable, as a General Partner, to the creditors of the Partnership for the liabilities and obligations of the Partnership which accrue, or result from transactions or activities entered into prior to the filing of record of the Amended Certificate of Limited limited Partnership.

Resignation of a General Partner. Any General Partner may resign upon 14 ( ) days notice to all of the Partners, and a Successor General Partner shall be determined as provided in § 10.1. In any event the resigning General Partner’s interest shall be converted to a Limited Partnership interestinterest as provided in paragraph (c) of Section 10.1. The resigning General Partner shall continue to be liable, as a General Partner, to the creditors of the Partnership for the liabilities and obligations of the Partnership which accrue, or result from transactions or activities entered into prior to the filing of record of the Amended Certificate of Limited Partnership.