Admission of Permitted Transferee as Partner. A Permitted Transferee to whom a Partnership Interest is Transferred shall be admitted as a Partner, without the necessity of obtaining the written consent of the other Partners, only if the conditions described in clauses (i) and (ii) of Section 9.2 are satisfied. Any costs of any such Transfer that are incurred by the Partnership shall be paid by the Permitted Transferee or its transferor.
Appears in 2 contracts
Samples: Limited Partnership Agreement (CNL Income Mesa Del Sol, LLC), Limited Liability Limited Partnership Agreement (CNL Income Properties Inc)
Admission of Permitted Transferee as Partner. A Permitted Transferee to whom a Partnership Interest is Transferred shall be admitted as a Partner, without the necessity of obtaining the written consent of the other Partners, only if (i) the Transfer complies with the conditions in Section 8.2(a) and Section 8.2(c) and (ii) the conditions described in clauses (i) and (ii) of Section 9.2 are satisfied. Any costs of any such Transfer that are incurred by the Partnership shall be paid by the Permitted Transferee or its transferor.
Appears in 1 contract
Samples: Partnership Interest Purchase Agreement (CNL Income Properties Inc)
Admission of Permitted Transferee as Partner. A Permitted Transferee to whom a Partnership Interest is Transferred shall be admitted as a Partner, without the necessity of obtaining the written consent of the other Partners, only if (i) the Transfer complies with the conditions in Section 8.2(a), Section 8.2(b), Section 8.2(c) and Section 8.5 and (ii) the conditions described in clauses (i) and (ii) of Section 9.2 are satisfied. Any costs of any such Transfer that are incurred by the Partnership shall be paid by the Permitted Transferee or its transferor.
Appears in 1 contract
Samples: Limited Partnership Agreement (CNL Income Properties Inc)
