Liability of a Withdrawn General Partner Sample Clauses

Liability of a Withdrawn General Partner. If on the Event of Withdrawal of a General Partner the business of the Partnership shall continue, the General Partner who shall have withdrawn shall be and remain liable for all obligations and liabilities incurred by him as General Partner prior to such Event of Withdrawal, but he shall be free of any obligation or liability incurred on account of the activities of the Partnership from and after the time of such Event of Withdrawal.
Sample 1Sample 2Sample 3See All (31)
AutoNDA by SimpleDocs
Liability of a Withdrawn General Partner. Any General Partner who, for any reason, voluntarily or involuntarily withdraws from the Partnership, or Transfers its Interest, shall be and remain liable for all obligations and liabilities incurred by it as a General Partner prior to the time that such Transfer becomes effective as provided in Section 7.1 of this Third Amendment, but it shall be free of any obligation or liability as a General Partner incurred on account of the activities of the Partnership from and after the time that such Transfer becomes effective.
Sample 1Sample 2See All (4)
Liability of a Withdrawn General Partner. Any General Partner who shall voluntarily or involuntarily for any reason (including bankruptcy, death, dissolution or adjudication of incompetence) withdraw from the Partnership or sell, transfer or assign its Interest shall be and remain liable for all obligations and liabilities incurred by it as General Partner prior to the time such withdrawal, sale, transfer or assignment shall, as provided in Section 6.1, have become effective, but it shall be free of any obligation or liability incurred on account of the activities of the Partnership from and after the time such withdrawal, sale, transfer or assignment shall have become effective.
Sample 1See All (4)
Liability of a Withdrawn General Partner. Any General Partner which shall for any reason withdraw from the Partnership, whether voluntarily or involuntarily, or shall Transfer all or a portion of its Partnership Interest, shall be and remain liable for all obligations and liabilities incurred by such General Partner (including liabilities of the Partnership or any NOARK Related Entity) prior to the time such withdrawal or Transfer has become effective, but shall be free of any obligation or liability incurred on account of the activities of the Partnership (including any NOARK Related Entity) from and after the time such withdrawal or Transfer becomes effective except for any liabilities or damages attributable to its action in withdrawing from the Partnership.
Sample 1Sample 2Sample 3
Liability of a Withdrawn General Partner. Any General Partner which shall voluntarily or involuntarily for any reason (including bankruptcy, death or adjudication of incompetency) withdraw from the Partnership, or sell, transfer or assign its general partner Partnership Interest, shall be and remain liable for all obligations and liabilities incurred by such General Partner prior to the time such withdrawal, conversion, sale, transfer or assignment, has become effective, but shall be free of any obligation or liability incurred on account of the activities of the Partnership from and after the time such withdrawal, conversion, sale, or transfer or assignment shall have become effective except for any liabilities or damages attributable to its action in withdrawing from the Partnership.
Sample 1
Liability of a Withdrawn General Partner. A. Any General Partner who withdraws from the Fund shall be, and remain, liable for all obligations and liabilities incurred by it as General Partner' prior to the time such withdrawal becomes effective. In addition, a General Partner who voluntarily withdraws in violation of this Agreement shall be subject to the liability described in Section 6.l C.
Sample 1

Related to Liability of a Withdrawn General Partner

  • Liability of General Partner The General Partner is not liable, responsible, or accountable in damages or otherwise to the Limited Partner or the Partnership for any act performed by the General Partner in good faith and within the scope of this Agreement. The General Partner is liable to the Limited Partner only for conduct that involves gross negligence, bad faith, or fraud.

  • Liability of a Member The liability of each Member shall be limited as provided in the Delaware Act and as set forth in this Agreement. No Member shall be obligated to restore by way of Capital Contribution or otherwise any deficits in its Capital Account (if such deficits occur).

  • Liability of Partners (a) No Limited Partner shall be liable for any debt, obligation or liability of the Partnership or of any other Partner or have any obligation to restore any deficit balance in its Capital Account solely by reason of being a Partner of the Partnership, except to the extent required by the Act.

  • Liability of Members The Members shall not have any liability for the obligations or liabilities of the Company except to the extent provided in the Act.

  • Liability of Member The Member shall not have any liability for the obligations or liabilities of the Company except to the extent provided in the Act.

  • Liability of Adviser In the absence of (i) willful misfeasance, bad faith or gross negligence on the part of the Adviser in performance of its obligations and duties hereunder, (ii) reckless disregard by the Adviser of its obligations and duties hereunder, or (iii) a loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services (in which case any award of damages shall be limited to the period and the amount set forth in Section 36(b)(3) of the Investment Company Act of 1940, as amended ("1940 Act"), the Adviser shall not be subject to any liability whatsoever to the Fund, or to any shareholder of the Fund, for any error or judgment, mistake of law or any other act or omission in the course of, or connected with, rendering services hereunder including, without limitation, for any losses that may be sustained in connection with the purchase, holding, redemption or sale of any security on behalf of the Portfolio.

  • Liability of Advisor No provision of this Agreement shall be deemed to protect the Advisor against any liability to the Fund or the shareholders of the Portfolio to which it might otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of its duties or the reckless disregard of its obligations under this Agreement.

  • Liability of the Member All debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member.

  • Liability of Sub-Adviser In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Sub-Adviser or any of its officers, directors or employees, the Sub-Adviser shall not be subject to liability to the Investment Adviser for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute? Prior to the due date (including extensions) for filing your tax return, you may elect to “recharacterize” amounts that you contributed to an IRA during the year by making a recharacterization of the contributed amount and earnings. Thus, for example, if you contribute amounts to a Xxxx XXX and later determine that you are ineligible to make a Xxxx XXX contribution for the year, you may at any time prior to the tax return due date for the year (including extensions) make a recharacterization of the contributions and earnings to a Traditional IRA.

Time is Money Join Law Insider Premium to draft better contracts faster.