Admission of a Successor or Additional General Partner. The General Partner may at any time designate additional Persons to be General Partners, whose Partnership Interest in the Partnership shall be such as shall be agreed upon by the General Partner and such additional General Partners, provided that the Partnership Interests of the Limited Partners and the BUC Holders shall not be reduced thereby. A Person shall be admitted as a General Partner of the Partnership only if each of the following conditions is satisfied:
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Samples: Greystone Housing Impact Investors LP, America First (America First Multifamily Investors, L.P.), America First Tax Exempt Investors Lp
Admission of a Successor or Additional General Partner. The General Partner may may, at any time time, designate additional Persons Person(s) to be General PartnersPartner(s), whose Partnership Interest in the Partnership Interests shall be such as shall be are agreed upon by the General Partner and such additional General PartnersPersons, provided that the Partnership Interests of the Limited Partners and the BUC Holders Partner shall not be reduced thereby. A Person shall be admitted as a General Partner of the Partnership only if each of affected thereby and subject to the following conditions is satisfiedconditions:
Appears in 2 contracts
Samples: Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5), WNC Housing Tax Credit Fund Vi Lp Series 5
Admission of a Successor or Additional General Partner. The General Partner may at any time designate additional Persons to be General Partners, whose Partnership Interest in the Partnership shall be such as shall be agreed upon by the General Partner and such additional General Partners, provided that the Partnership Interests of the Limited Partners and the BUC Unit Holders shall not be reduced thereby. A Person shall be admitted as a General Partner of the Partnership only if each of the following conditions is satisfied:
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