Common use of Capital Contribution upon Dissolution Clause in Contracts

Capital Contribution upon Dissolution. Subject to the provisions of Section 5.9 of this Agreement, each Investor and Partner shall look solely to the assets of the Partnership for all distributions with respect to the Partnership and his Capital Contribution and shall have no recourse (upon dissolution or otherwise) against any Partner or Investor; provided, however, that upon the dissolution and termination of the Partnership, the General Partner will make the Capital Contributions referred to in Section 3.1. All amounts so contributed by the General Partner shall be distributed first to the Partnership's creditors entitled thereto, and the balance to the Investors and Partners in proportion to the positive balances in their Capital Accounts at the time of dissolution and termination of the Partnership.

Appears in 6 contracts

Samples: Limited Partnership Agreement (Realty Parking Properties Lp), Limited Partnership Agreement (Realty Parking Properties Lp), Agreement (Realty Parking Properties Ii Lp)

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Capital Contribution upon Dissolution. Subject to the provisions of Section 5.9 of this Agreement, each Investor and Partner shall look solely to the assets of the Partnership Fund for all distributions with respect to the Partnership Fund and his Capital Contribution and shall have no recourse (upon dissolution or otherwise) against any Partner or Investor; provided, however, that upon the dissolution and termination of the PartnershipFund, the General Partner Partners will make the Capital Contributions referred to in Section 3.1. All amounts so contributed by the General Partner Partners shall be distributed first to the PartnershipFund's creditors entitled thereto, and the balance to the Investors and Partners in proportion to the positive balances in their Capital Accounts at the time of dissolution and termination of the PartnershipFund.

Appears in 1 contract

Samples: Limited Partnership Agreement (Meridian Healthcare Growth & Income Fund LTD Partnership)

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