Common use of Acknowledgement of Gift Clause in Contracts

Acknowledgement of Gift. The parties hereby acknowledge that the issuance of the Limited Partnership Interest hereunder by LP to NLP is a gift, and that no money or economic benefit of any kind has or will be provided to LP in exchange for said gift. This gift is conditioned upon and subject to the terms of this Agreement.

Acknowledgement of Gift. The parties hereby acknowledge that the issuance of the Limited Partnership Interest hereunder by LP to NLP is a gift, gift and that no money or economic benefit of any kind has or will be provided to LP in exchange for said gift. This gift is conditioned upon and subject to the terms of this Agreement.