Consent of General Partner. No Limited Partner shall have the right to substitute a transferee as a Limited Partner in its place. The General Partner shall, however, have the right to consent to the admission of a transferee of the interest of a Limited Partner pursuant to this Section 11.4 as a Substituted Limited Partner, which consent may be given or withheld by the General Partner in its reasonable discretion; provided, that in the case of a Transfer to a Permitted Transferee or a Transfer to a Qualified Transferee, the General Partner shall have no right to consent to the admission of such Permitted Transferee or Qualified Transferee, as applicable, as a Substituted Limited Partner if such Permitted Transferee or Qualified Transferee assumes all of the obligations of the transferor Limited Partner under this Agreement with respect to such Partnership Units. If the General Partner denies admission of a proposed transferee of Partnership Units, the General Partner shall provide to the transferor or proposed transferor of such Partnership Units written notice setting forth the reasons for such denial.
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Samples: InfraREIT, Inc., InfraREIT, Inc., InfraREIT, Inc.
