SITE INFORMATION AND CORRESPONDENCE

Home Browse Search

Dissolution of Business r 2 .03 Except for the purpose of carrying out the winding up of the business of the Partnership , neither of the parties shall do any further business nor incur any further obligation on behalf of the Partnership after the date of this Agreement . ARTICLE 3 . WINDING UP Disclosure 3. 01 Except as appears by the looks of the Partnership, the parties represent that they have not heretofore contracted any liability which can or may charge the Partnership or the other party, and that neither has received or discharged any of the credits , moneys , or effects of that Partnership Assignment of Interest of Retiring Partner 3. 02(a) In consideration of the payment provided for in Subsection (b) , and effective upon receipt thereof , SALEEM KHAN assigns to MO- HAMMAD JAMEEL all of his interest in the Partnership . The assignment by SALEEM KHAN of his interest does not include any right to use of his name in connection with the business to be conducted by MOHAMMAD JAMEEL in the future . (b) MOHAMMAD JAMEEL shall pay to SALEEM KHAN the sum of FIFTEEN THOUSAND AND N0/100 - - - ( $15 , 000 . 00) DOLLARS for his share of the Partnership . Said sum to be payable on or before January 1 , 1991 , and to be secured by a Note and Deed of Trust. 3.03 MOHAMMAD JAMEEL, by reason of his being the continuing member of the firm, is appointed to wind up the affairs of the Partnership and to carry out the terms and conditions of this Agreement. ARTICLE 4. EXECUTION AND ENFORCEMENT Counterparts 4.01 This Agreement may be executed in any number of counterparts , and each such counterpart shall be deemed to be an original instrument . Survival of Representations 4.02 The representations and agreements set forth herein shall be continuous and shall survive the taking of any accounting. -2-