Common use of Effect of Prohibited Transfers Clause in Contracts

Effect of Prohibited Transfers. Any Transfer by a Partner in violation of the terms of this Agreement shall be void and shall not be recognized by the Partnership; provided, however, that nothing herein shall be deemed to limit any right or remedy that the Partnership or any other Partner may have against such Partner.

Effect of Prohibited Transfers. Any Transfer transfer of an interest in the partnership by a Partner partner in violation of the terms of this Agreement shall be void and not cause a dissolution of the partnership, but shall result in the forfeiture of the partner's right to participate in the management of the partnership. This section does not be recognized by the Partnership; provided, however, that nothing herein shall be deemed to limit any right the partnership or remedy that the Partnership or any other Partner partners may have against such Partnerthe partner making the prohibited transfer.

Effect of Prohibited Transfers. Any Transfer transfer of an interest in the Partnership by a Partner in violation of the terms of this Agreement shall be void and shall not be recognized by the Partnership. Any such transfer shall not cause a dissolution of the Partnership but shall result in the forfeiture of the transferor Partner's right to participate in the management of the Partnership, and the voting rights and requirements under this Agreement shall be appropriately modified; provided, however, that nothing herein shall be deemed to limit any right or remedy remedies that the Partnership or any other Partner may have against such transferor Partner.

Effect of Prohibited Transfers. Any Transfer transfer of any ownership interest in the Partnership by a Partner in violation of the terms of this Agreement shall be void and shall not be recognized by the Partnership. Any such transfer shall not cause a dissolution of the partnership but shall result in the loss by the Partner making such transfer of the right to vote with respect to Partnership matters until such Partner shall have rescinded such transfer to the satisfaction of all other Partners; provided, however, that nothing herein shall be deemed to limit any right or remedy remedies that the such Partnership or any other Partner may have against such violating Partner.

Effect of Prohibited Transfers. Any Transfer transfer of an interest in the Partnership by a Partner in violation of the terms of this Agreement shall be void and shall not be recognized by the Partnership. Any such transfer shall not cause a dissolution of the Partnership but shall result in the forfeiture of the transferor Partner’s right to participate in the management of the Partnership, and the voting rights and requirements under this Agreement shall be appropriately modified; provided, however, that nothing herein shall be deemed to limit any right or remedy remedies that the Partnership or any other Partner may have against such transferor Partner.

Effect of Prohibited Transfers. Any Transfer transfer of an interest in the Partnership by a Partner in violation of the terms of this Agreement shall be void and shall not be recognized by cause a dissolution of the Partnership; provided, however, that nothing herein but shall be deemed result in the forfeiture of the Partner's right to participate in the management of the Partnership. This section does not limit any right or remedy that the Partnership or any the other Partner may have against such Partnerthe Partner making the prohibited transfer.