Liability Allocation. Notwithstanding the joint and several liability between the Managing Partner and the General Partners, they hereby agree that each shall be solely and individually responsible only for his pro rata share (calculated in accordance with each such Member’s Distribution Percentage Interest) of liabilities and obligations of the Partnership, and any Partner who incurs liability in excess shall be entitled to contribution from other such Partners.
Appears in 3 contracts
Sources: Agreement of Limited Partnership (White River Energy Corp.), Limited Partnership Agreement (White River Energy Corp.), Agreement of Limited Partnership (White River Energy Corp.)