Liability for Capital Commitment Upon Transfer Sample Clauses
Liability for Capital Commitment Upon Transfer. Any Person that acquires all or any part of the Interest of a Limited Partner in the Partnership in a Transfer permitted under this Section 8.2 shall pay to the Partnership the appropriate portion of any amounts thereafter becoming due in respect of the Capital Commitment committed to be made by its predecessor in interest and shall, subject to Section 8.2(b) (Conditions to Succession to Capital Accounts), assume any other obligations to the Partnership of its predecessor in interest. Unless the General Partner agrees otherwise, each Limited Partner agrees that, notwithstanding the Transfer of all or any part of its Interest in the Partnership, it will remain liable for its Capital Commitment and for all Capital Contributions required to be made by it (without taking into account the Transfer of all or a part of such Interest in the Partnership), in each case prior to the time, if any, when the transferee of such Interest in the Partnership (or portion thereof) is admitted as a substituted Limited Partner. Any substituted Limited Partner admitted to the Partnership in compliance with this Section 8.2 shall succeed to all of the rights and be subject to all of the obligations of a Limited Partner in respect of the Interest in the Partnership as to which it was substituted.