Common use of Assignment of Interests in Violation of this clause Clause in Contracts

Assignment of Interests in Violation of this clause. No Transfer of an Interest in violation of this clause 8 shall be valid or effective, and the Partnership shall not recognise the same, for the purposes of making payments of Net Income or Capital or repayments of Loans or otherwise with respect to Interests in the Partnership.

Assignment of Interests in Violation of this clause. No Transfer of an Interest (including without limitation any Commitments) in violation of this clause 8 Clause 7 shall be valid or effective, and the Partnership shall not recognise the same, for any purpose, including without limitation, the purposes making of making payments of Net Income or Capital or repayments of Loans distributions or otherwise with respect to Interests in the PartnershipPartnership and any Transfer of an Interest to a Substitute Limited Partner or on the basis of any representation by such Limited Partner which is untrue or which subsequently breached by such Limited Partner shall be void.