ASSIGNABILITY OF PARTNER’S INTERESTS. Neither the General Partner nor the Limited Partner shall assign any portion or all of their interests in the Partnership unless the assigning Partner first obtains the written consent of the other Partner. Upon such consent by the General Partner, any assignee of the Limited Partner’s interest shall become a substituted Limited Partner with all of the rights and obligations under this Agreement of the original Limited Partner.
Appears in 24 contracts
Samples: Limited Partnership Agreement (National Credit & Guaranty CORP), Limited Partnership Agreement (National Credit & Guaranty CORP), Whispering Meadow Limited Partnership Agreement (National Credit & Guaranty CORP)
ASSIGNABILITY OF PARTNER’S INTERESTS. Neither the General Partner nor the any Limited Partner shall assign any portion or all of their interests in the Partnership unless the assigning Partner first obtains the written consent of the other PartnerGeneral Partner and of Limited Partners holding in the aggregate no less than 85% of the Partnership percentage interests. Upon such consent by the General Partner, consents any assignee of the Limited Partner’s interest shall become a substituted Limited Partner with all of the rights and obligations under this Agreement of as the original Limited Partner.
Appears in 1 contract
Samples: Limited Partnership Agreement (National Credit & Guaranty CORP)
