Common use of Block Transfers Clause in Contracts

Block Transfers. The term "Block Transfer" means the transfer by a Unit Holder in one or more transactions during any thirty consecutive day period of Units representing in the aggregate more than 5% of the total interests in Partnership capital or profits. The term "Matching Service" has the meaning and the conditions to sale ascribed to it in Internal Revenue Service Notice 88-75. For purposes of the above limitations, the percentage of Units transferred during a taxable year shall equal the sum of the monthly percentage of Units transferred. The monthly percentage of Units transferred in any month shall be the percentage equal to a fraction the numerator of which is the number of Units transferred during such month and the denominator of which is the number of Units outstanding on the last day of such month, provided that the denominator shall not include Units owned by the General Partner or any Person related to the General Partner (within the meaning of Section 267(b) or 707(b)(1) of the Code);

Block Transfers. The term "Block Transfer" means the transfer by a Unit Holder in one or more transactions during any thirty consecutive day period of Units representing in the aggregate more than 5% of the total interests in Partnership capital or profits. The term "Matching Service" has the meaning and the conditions to sale ascribed to it in Internal Revenue Service Notice 88-75. For purposes of the above limitations, the percentage of Units transferred during a taxable year shall equal the sum of the monthly percentage of Units transferred. The monthly percentage of Units transferred in any month shall be the percentage equal to a fraction the numerator of which is the number of Units transferred during such month and the denominator of which is the number of Units outstanding on the last day of such month, provided that the denominator shall not include Units owned by the General Partner or any Person related to the General Partner (within the meaning of Section 267(b) or 707(b)(1707(b)(l) of the Code);

Block Transfers. The term "Block Transfer" means the transfer by a Unit Holder in one or more transactions during any thirty consecutive day period of Units representing in the aggregate more than 5% of the total interests in Partnership capital or profits. The term "Matching Service" has the meaning and the conditions to sale ascribed to it in Internal Revenue Service Notice 88-75. For purposes of the above limitations, the percentage of Units transferred during a taxable year shall equal the sum of the monthly percentage of Units transferred. The monthly percentage of Units transferred in any month shall be the percentage equal to a fraction the numerator of which is the number of Units transferred during such month and the denominator of which is the number of Units outstanding on the last day of such month, provided that the denominator shall not include Units owned by the General Partner or any Person related to the General Partner (within the meaning of Section 267(b) or 707(b)(1707(b) (1) of the Code);