Common use of Issuance of Additional Partnership Interests; Admission of Additional Limited Partners Clause in Contracts

Issuance of Additional Partnership Interests; Admission of Additional Limited Partners. (a) In addition to any Partnership Interests issuable by the Partnership pursuant to Section 4.2, the General Partner is authorized to cause the Partnership to issue additional Partnership Interests (or options therefor) in the form of Partnership Units or other Partnership Interests in one or more series or classes, or in one or more series of any such class senior, on a parity with, or junior to the Partnership Units to any Persons at any time or from time to time, on such terms and conditions, as the General Partner shall establish in each case in its sole and absolute discretion subject to Delaware law, including (x) the allocations of items of Partnership income, gain, loss, deduction and credit to each class or series of Partnership Interests, (y) the right of each class or series of Partnership Interests to share in Partnership distributions, and (z) the rights of each class or series of Partnership Interest upon dissolution and liquidation of the Partnership; provided, however, that no such Partnership Interests shall be issued to the General Partner unless:

Appears in 6 contracts

Samples: Preferred Apartment Communities Inc, Management Agreement (Preferred Apartment Communities Inc), Preferred Apartment Communities Inc

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Issuance of Additional Partnership Interests; Admission of Additional Limited Partners. (a) In addition to any Partnership Interests issuable by the Partnership pursuant to Section 4.2, the General Partner is authorized to cause the Partnership to issue additional Partnership Interests (or options therefortherefore) in the form of Partnership Units or other Partnership Interests in one or more series or classes, or in one or more series of any such class senior, on a parity with, or junior to the Partnership Units to any Persons at any time or from time to time, on such terms and conditions, as the General Partner shall establish in each case in its sole and absolute discretion subject to Delaware law, including (xi) the allocations of items of Partnership income, gain, loss, deduction and credit to each class or series of Partnership Interests, (yii) the right of each class or series of Partnership Interests to share in Partnership distributions, and (ziii) the rights of each class or series of Partnership Interest upon dissolution and liquidation of the Partnership; provided, however, that no such Partnership Interests shall be issued to the General Partner unless:

Appears in 2 contracts

Samples: Management Agreement (Preferred Apartment Communities Inc), Preferred Apartment Communities Inc

Issuance of Additional Partnership Interests; Admission of Additional Limited Partners. (a) In addition to any Partnership Interests issuable by the Partnership pursuant to Section 4.2, the General Partner is authorized to cause the Partnership to issue additional Partnership Interests (or options therefor) in the form of Partnership Units or other Partnership Interests in one or more series or classes, or in one or more series of any such class senior, on a parity with, or junior to the Partnership Units to any Persons at any time or from time to time, on such terms and conditions, as the General Partner shall establish in each case in its sole and absolute discretion subject to Delaware law, including including, without limitation, (xi) the allocations of items of Partnership income, gain, loss, deduction and credit to each class or series of Partnership Interests, (yii) the right of each class or series of Partnership Interests to share in Partnership distributions, and (ziii) the rights of each class or series of Partnership Interest upon dissolution and liquidation of the Partnership; provided, howeverthat, that no such Partnership Interests shall be issued to the General Partner unless:

Appears in 1 contract

Samples: United Realty Trust Inc

Issuance of Additional Partnership Interests; Admission of Additional Limited Partners. (a) In addition to any Partnership Interests issuable by the Partnership pursuant to Section 4.2, the General Partner is authorized to cause the Partnership to issue additional Partnership Interests (or options therefortherefore) in the form of Partnership Units or other Partnership Interests in one or more series or classes, or in one or more series of any such class senior, on a parity with, or junior to the Partnership Units to any Persons at any time or from time to time, on such terms and conditions, as the General Partner shall establish in each case in its sole and absolute discretion subject to Delaware law, including (xi) the allocations of items of Partnership income, gain, loss, deduction and credit to each class or series of Partnership Interests, (yii) the right of each class or series of Partnership Interests to share in Partnership distributions, and (z) the rights of each class or series of Partnership Interest upon dissolution and liquidation of the Partnership; provided, however, that no such Partnership Interests shall be issued to the General Partner unless:and

Appears in 1 contract

Samples: Agreement

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Issuance of Additional Partnership Interests; Admission of Additional Limited Partners. (a) In addition to any Partnership Interests issuable by the Partnership pursuant to Section 4.2, the General Partner is authorized to cause the Partnership to issue additional Partnership Interests (or options therefor) in the form of Partnership Units or other Partnership Interests in one or more series or classes, or in one or more series of any such class senior, on a parity with, or junior to the Partnership Units to any Persons at any time or from time to time, on such terms and conditions, as the General Partner shall establish in each case in its sole and absolute discretion subject to Delaware law, including including, (x) the allocations of items of Partnership income, gain, loss, deduction and credit to each class or series of Partnership Interests, (y) the right of each class or series of Partnership Interests to share in Partnership distributions, and (z) the rights of each class or series of Partnership Interest upon dissolution and liquidation of the Partnership; provided, however, that no such Partnership Interests shall be issued to the General Partner unless:

Appears in 1 contract

Samples: Form of Agreement (United Realty Trust Inc)

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