Common use of Effect of Authorized and Unauthorized Transfers Clause in Contracts

Effect of Authorized and Unauthorized Transfers. Any ----------------------------------------------- transferee of a Partnership Interest transferred in accordance with this Agreement shall succeed to all the rights and liabilities of the transferor provided for under this Agreement, but shall only become a Substituted Limited Partner if the permission required by Section 9.4 is granted. Any attempted transfer of a Limited Partner's Partnership Interest without compliance with the provisions of this Agreement shall be void and ineffectual and shall not be binding upon the Partnership, and the Partnership may refuse to recognize such attempted transfer for all purposes.

Effect of Authorized and Unauthorized Transfers. Any ----------------------------------------------- transferee of a Partnership Interest transferred in accordance with this Agreement shall succeed to all the rights and liabilities of the transferor provided for under this Agreement, but shall only become a Substituted Limited Partner if the permission required by Section 9.4 is granted. Any attempted transfer of a Limited Partner's ’s Partnership Interest without compliance with the provisions of this Agreement shall be void and ineffectual and shall not be binding upon the Partnership, and the Partnership may refuse to recognize such attempted transfer for all purposes.