Acquisition of an Interest Conveyed to Another Without Authority. If an unauthorized Transfer occurs because: (1) any Person acquires a Partnership Interest, or becomes a Transferee, as the result of an order of a court which the Partnership is required by law to recognize; (2) a Partner's interest in the Partnership is subjected to a lawful "charging order"; (3) a Partner's ex-spouse is awarded all or a portion of a Partner's partnership interest in a divorce proceeding; (4) a Partner dies; (5) a Partner's spouse dies; (6) a Partner makes an unauthorized Transfer of an interest in the Partnership; or (7) of the dissolution or bankruptcy of a Partner, the Partnership will have the unilateral option to acquire the interest of the Transferee, or any fraction or part thereof, upon the following terms and conditions:
Appears in 4 contracts
Samples: Partnership Agreement, Partnership Agreement, Partnership Agreement
