Further Restriction on Transfers. No Partner shall make any assignment of all or any part of his or her interest in the Partnership if said transfer or assignment would, when considered with all other transfers during the same applicable twelve (12) month period, cause a termination of the Partnership for federal or any applicable state income tax purposes.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 2), Limited Partnership Agreement (Windsor Park Properties 5), Limited Partnership Agreement (Windsor Park Properties 3)
Further Restriction on Transfers. No Partner shall make any assignment of all or any part of his or her interest in the Partnership if said transfer or assignment would, in the opinion of counsel, when considered with all other transfers during the same applicable twelve (12) month period, cause a termination of the Partnership for federal or any applicable state income tax purposes, or would, in the opinion of counsel, cause the partnership to be deemed a "publicly traded partnership" under section 7704 of the Internal Revenue Code.
Appears in 1 contract
Samples: Limited Partnership Agreement (Windsor Park Properties 6)
Further Restriction on Transfers. No Partner shall make any assignment of all or any part of his or her its interest in the Partnership if said transfer or assignment would, when considered with all other transfers during the same applicable twelve (12) month period, cause a termination of the Partnership for federal or any applicable state income tax purposes.
Appears in 1 contract
Samples: Limited Partnership Agreement (Consolidated Capital Institutional Properties 3)
