Common use of Liability of the Partners Clause in Contracts

Liability of the Partners. 1.7.1 The General Partner shall be personally and unlimitedly liable (indéfiniment et solidairement responsable) to the creditors of the Partnership for all obligations of the Partnership, whichcannot be satisfied out of the Partnership's assets. 1.7.2 The liability of each Limited Partner shall be limited to the amount such Limited Partner subscribed to the Partnership. 1.7.3 The Limited Partners shall take no part in the operation of the Partnership or the management or control of its activities and affairs, and shall have no right or authority to take part in or in any way interfere in the conduct or management of the Partnership, or to vote or provide advice on matters relating to the Partnership other than as provided in this Agreement.

Liability of the Partners. 1.7.1 The General Partner shall be personally and unlimitedly liable (indéfiniment et solidairement responsablesolidairementresponsable) to the creditors of the Partnership for all obligations of the Partnership, whichcannot be satisfied out of the Partnership's assets. 1.7.2 The liability of each Limited Partner shall be limited to the amount such Limited Partner subscribed to the Partnership. 1.7.3 The Limited Partners shall take no part in the operation of the Partnership or the management or control of its activities and affairs, and shall have no right or authority to take part in or in any way interfere in the conduct or management of the Partnership, or to vote or provide advice on matters relating to the Partnership other than as provided in this Agreement.