Assignments of Partnership Interest. (a) No Limited Partner may sell, assign, pledge or otherwise transfer or encumber (collectively, “Transfer”) all or any part of his or her interest in the Partnership, nor shall any Limited Partner have the power to substitute a transferee in his or her place as a substitute Limited Partner, without, in either event, having obtained the prior written consent of the General Partner, which consent may be given or withheld in its sole discretion.
(b) The General Partner may not Transfer all or any part of its interest in the Partnership, nor shall the General Partner have the power to substitute a transferee in its place as a substitute General Partner, without, in either event, having obtained the consent of a majority in interest of the Limited Partners.
Assignments of Partnership Interest a. No Partner may transfer all or any part of its interest in the Partnership, nor shall any Partner have the power to substitute a transferee in its place as a substitute Partner, without, in either event, having obtained the consent of the other Partner.
b. Upon the transfer of any portion of a Partner’s interest permitted by this Agreement or any other event with respect to which adjustments to the tax basis of Partnership assets would be permitted if the Partnership had a valid election under Section 754 of the Internal Revenue Code (“Section 754”) in effect, the Managing Partner shall cause the Partnership to make a timely election under Section 754.
Assignments of Partnership Interest. No Limited Partner may sell, assign, pledge or otherwise transfer or encumber (collectively, “transfer”) all or any part of such Limited Partner’s interest in the Partnership, nor shall any Limited Partner have the power to substitute a transferee in his or her place as a substitute Limited Partner, without, in either event, having obtained the prior written consent of the General Partner, which consent may be given or withheld in its sole discretion.
Assignments of Partnership Interest. (a) No Limited Partner may sell, assign, pledge or otherwise transfer or encumber (collectively "TRANSFER") all or any part of his interest in the Partnership, nor shall any Limited Partner have the power to substitute a transferee in his place as a substitute Limited Partner, without, in either event, having obtained the prior written consent of the General Partner, which consent may be given or withheld in its sole discretion.
(b) The General Partner may transfer or assign its interest as a general partner in the Partnership. A person who is admitted as an additional or substitute General Partner shall thereby become a General Partner and shall have the right to manage the affairs of the Partnership and to vote as a Partner to the extent of the interest in the Partnership so acquired. The General Partner shall not cease to be the general partner of the Partnership upon the collateral assignment of or the pledging or granting of a security interest in its entire interest in the Partnership.
Assignments of Partnership Interest. (a) No Limited Partner may sell, assign, pledge or otherwise transfer or encumber (collectively "transfer") all or part of his interest in the Partnership, nor shall any Limited Partner have the power to substitute a transferee in his place as a substituted Limited Partner, without, in either event, having obtained the prior written consent of the General Partner.
(b) The General Partner may not transfer all or any part of his interest in the Partnership, nor shall the General Partner have the power to substitute a transferee in his place as a substituted General Partner, without, in either event, having obtained the consent of two-thirds in interest of the Limited Partners.
Assignments of Partnership Interest. (a) No Limited Partner shall sell, assign, pledge or otherwise transfer or encumber (collectively “transfer”) all or any part of his interest in the Partnership, nor shall any Limited Partner have the power to substitute a transferee in his place as a substituted Limited Partner, without, in either event, having obtained the prior written consent of the Managing General Partner.
(b) No General Partner may transfer all or any part of his interest in the Partnership, nor shall any General Partner have the power to substitute a transferee in his place as a substituted General Partner, without, in either event, having obtained the consent of all other General Partners or, if none, the consent of Limited Partners having a majority of Percentage Interests in the Partnership.
Assignments of Partnership Interest. A Partner shall not sell, assign, pledge or otherwise transfer or encumber in any manner or by any means whatever any share in xxxxx any part of the interests of the Partnership now owned or hereafter acquired by it without having first obtained the consent of the other Partners or Partnership, which consent shall not be unreasonably withheld. Notwithstanding the foregoing, the Managing General Partner shall have the right to transfer a portion of its interest in this Partnership without obtaining consent provided that the Managing General Partner maintains control, directly or indirectly, of not less than fifty-one (51%) percent interest in the Partnership.
Assignments of Partnership Interest. A duly executed Assignment of Partnership Interest for each of the JV Partnerships assigning and transferring the Partnership Interests.
Assignments of Partnership Interest. No Member may sell, assign, pledge or otherwise transfer or encumber (collectively "transfer") all or any part of its interest in the Company, nor shall any Member have the power to substitute a transferee in his place as a substitute Member, without, in either event, having obtained the prior written consent of each other Member, which consent may be given or withheld in its sole discretion; provided that no such consent shall be required for a transfer by any Member of all of its interest in the Company to any affiliate of such Member so long as such Member remains contingently liable for the performance by such affiliate of its obligations hereunder and such transfer does not impose any legal, tax or regulatory burden upon the Company. Upon any such transfer to an affiliate of a Member's interest in the Company, such affiliate shall be admitted as a substitute Member of the Company in lieu of the transferor Member.
Assignments of Partnership Interest. No Partner may transfer all or any part of its interest in the Partnership, nor shall any Partner have the power to substitute a transferee in its place as a substitute Partner, without, in either event, having obtained theconsent of all of the other Partners; provided that LBHI may transfer all or part of its interest to any one or more of its affiliates.
