Common use of ASSIGNMENT OF PARTNER'S INTEREST Clause in Contracts

ASSIGNMENT OF PARTNER'S INTEREST. Except as provided in this Agreement, a Partner may not withdraw, nor sell, assign, transfer, pledge, grant a security interest in, encumber or otherwise dispose of, all or any part of its interest in the Partnership. Any Partner may grant a security interest in its right to receive distributions from the Partnership in connection with a financing by such Partner. Any attempted withdrawal or transfer not permitted by the terms of this Agreement shall be null and void ab initio and is of no force and effect.