Limited Partnership Act definition
Examples of Limited Partnership Act in a sentence
The Partnership shall from and after the Effective Time be governed by the Florida Revised Uniform Limited Partnership Act of 2005, being Florida Statutes, Sections 620.1101 et seq.
The Limited Partners shall have no liability under this Agreement except as expressly provided in this Agreement or the Limited Partnership Act or the Exempted Partnerships Act.
Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Partners and the administration, dissolution and termination of the Partnership shall be governed by the Limited Partnership Act and the Exempted Partnerships Act.
The Units, when issued, will have been duly and validly authorized and issued, free of any preemptive or similar rights, and will be fully paid and nonassessable, without any obligation to restore capital except as required by the Virginia Revised Uniform Limited Partnership Act (the "Limited Partnership Act").
Upon execution and delivery of the Partnership Agreement by Contributor, Contributor shall be admitted as a limited partner of Acquirer as of the Closing Date and shall be entitled to all of the rights and protections of a limited partner under the Limited Partnership Act and the provisions of the Partnership Agreement, with the same rights, preferences, and privileges as all other limited partners on a pari passu basis.