Common use of Return of Capital; Partner’s Loans Clause in Contracts

Return of Capital; Partner’s Loans. No Partner is entitled to the return of his or her contribution or any subsequent contributions to the Partnership or to be paid interest in respect of either of his or her Capital Account or any contribution made by him or her to the Partnership. No unrepaid capital contribution shall be deemed or considered to be a liability of the Partnership or of any Partner. No Partner shall be required to contribute or loan any cash or property to the Partnership to enable the Partnership to return any Partner’s contribution to the Partnership. Notwithstanding the prior sentence, nothing herein shall prevent a Partner from loaning money to the Partnership under terms and conditions determined by the General Partner.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Eye Care Centers of America Inc), Limited Partnership Agreement (Eye Care Centers of America Inc), Limited Partnership Agreement (Eye Care Centers of America Inc)

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