Incapacity of a Limited Partner. A Limited Partner shall be deemed incapacitated as of the date it files for Bankruptcy, is judicially declared incompetent or insane, or has appointed a legal guardian or conservator. The trustee in Bankruptcy, legal guardian, or conservator shall be referred to as the Successor. On the incapacity of a Limited Partner, its Successor shall become a Limited Partner except that its Percentage Interest shall be subject to the option described in Paragraph 15.1.3.
Incapacity of a Limited Partner. If a Limited Partner dies, such Limited Partner's executor, administrator, or trustee, or, if such Limited Partner is adjudicated incompetent, such Limited Partner's committee, guardian, or conservator, or, if such Limited Partner becomes bankrupt, the trustee or receiver of such Limited Partner's estate, shall have all the rights of a Limited Partner for the purpose of settling or managing the estate of such Limited Partner, and such power as the Incapacitated Limited Partner possessed to assign all or any part of the Incapacitated Limited Partner's Partnership Interest and to join with such assignee in satisfying conditions precedent to such assignee's becoming a Substituted Limited Partner. The Incapacity of a Limited Partner shall not dissolve the Partnership.
Incapacity of a Limited Partner. In the event of the Incapacity of a Limited Partner, the Partnership shall not terminate, and the Limited Partner's trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Partnership distributions applicable to the Interest of such Incapacitated Limited Partner as provided herein. Any Transfer from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.
Incapacity of a Limited Partner. In the event of the Incapacity of a Limited Partner, the General Partner may require the Transfer of the Interest of such Limited Partner (whether such Interest remains with such Limited Partner or is transferred to a trustee in bankruptcy or other legal representative) at a purchase price equal to the amount of such Partner's Capital Account, as adjusted as of the date of such Transfer to reflect Profits and Losses through such date and the Fair Market Value of the Partnership's assets as of such date. In the event of the Incapacity of a Limited Partner, the Partnership shall not be terminated, and the Limited Partner's trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Partnership distributions applicable to the Interest of such incapacitated Limited Partner as provided herein. Any Transfer from such trustee in bankruptcy or legal representative shall be subject to the provisions of this Agreement.
Incapacity of a Limited Partner. (a) Notwithstanding any other provision of this Agreement, the death, Bankruptcy, dissolution or incompetence of a Limited Partner shall not, in and of itself, cause a dissolution of the Partnership, and upon the occurrence of such an event, the Partnership shall continue without dissolution. If any such event shall occur with respect to a Limited Partner, the trustee, successors or assigns of such Limited Partner shall succeed only to the economic interest of such Limited Partner herein, but no such trustee, successor or assignee shall become a substituted Limited Partner unless and until the requirements of Sections 10.1, 10.3, 10.4 and 10.5 hereof with respect thereto have been satisfied.
Incapacity of a Limited Partner. In the event of the Incapacity of a Limited Partner, the Partnership shall not be terminated, and the Limited Partner's trustee in bankruptcy
Incapacity of a Limited Partner. In the event of the Incapacity of a Limited Partner or the occurrence of any other event that causes a Limited Partner to cease to be a limited partner of the Partnership, the Partnership shall not be dissolved or terminated except as provided in Section 9.1(i), and the relevant Limited Partner’s trustee in bankruptcy or other legal representative shall have only the rights of a Transferee which has not been admitted as a Limited Partner. Any such trustee in bankruptcy or other legal representative shall be admitted as a Limited Partner only upon satisfying the requirements set forth in Section 8.3. Any Transfer from such trustee in bankruptcy or legal representative shall be subject to the relevant provisions of this Agreement.
Incapacity of a Limited Partner. If a Limited Partner dies, its executor, administrator, or trustee, or, if it is adjudicated incompetent, its committee, guardian, or conservator, or, if it becomes bankrupt, the trustee or receiver of its estate, shall have all the rights of a Limited Partner for the purpose of settling or managing the estate of such Limited Partner, and such power as the Limited Partner possessed to assign all or any part of its Interest and to join with such assignee in satisfying conditions precedent to such assignee becoming a substituted Limited Partner. The death, adjudication of incompetency, or bankruptcy of a Limited Partner shall not dissolve the Partnership.
Incapacity of a Limited Partner. The Bankruptcy dissolution of a Limited Partner shall not, in and of itself, cause dissolution of the Partnership. If any such event shall occur with respect to a Limited Partner, the trustee, successors or assigns of such Limited Partner shall succeed only to the economic interest of such Limited Partner herein, but no such trustee, successor or assignee shall become a substituted Limited Partner unless and until the requirements of this Article 11 with respect thereto have been satisfied.
Incapacity of a Limited Partner. In the event of the Incapacity of a Limited Partner, the Partnership shall not terminate, and the Limited Partner's trustee in bankruptcy or other legal representative shall have only the rights of a transferee of the right to receive Partnership distributions applicable to the Interest of such Incapacitated Limited Partner as provided herein. Any Transfer from such trustee in bankruptcy
