Common use of Bankruptcy of a Partner Clause in Contracts

Bankruptcy of a Partner. The bankruptcy (as defined in the Act) of a Partner shall not cause such Partner to cease to be a member of the Partnership, and upon the occurrence of such an event, the business of the Partnership shall continue without dissolution.

Bankruptcy of a Partner. The bankruptcy (as defined in the ActPartnership Law) of a Partner shall not cause such Partner to cease to be a member of the Partnership, and upon the occurrence of such an event, the business of the Partnership shall continue without dissolution.