Common use of Joint Approval Matters Clause in Contracts

Joint Approval Matters. Except as otherwise provided in this Agreement, to the fullest extent permitted by law, the following matters shall require the written approval of Holding II and Holding I: (a) Dissolution of the Partnership, sale, pledge or encumbrance of significant assets; (b) Issuance of securities of, or interests in, the Partnership; (c) Changes in the primary business of the Partnership; (d) Any act which would make it impossible to carry on the ordinary business of the Partnership; (e) Assignment of Partnership property in trust for creditors or on the assignee's promise to pay the debts of the Partnership, unless in connection with an abandonment of the business which has been authorized by all Partners; and (f) Admission of any additional partner to the Partnership. This Section 10 shall prevail over Sections 11, 12, and 13.

Joint Approval Matters. Except as otherwise provided in this Agreement, to the fullest extent permitted by law, the following matters shall require the written approval of Holding II and Holding I: (a) Dissolution of the Partnership, sale, pledge or encumbrance of significant assets; (b) Issuance of securities of, or interests in, the Partnership; (c) Changes in the primary business of the Partnership; (d) Any act which would make it impossible to carry on the ordinary business of the Partnership; (e) Assignment of Partnership property in trust for creditors or on the assignee's ’s promise to pay the debts of the Partnership, unless in connection with an abandonment of the business which has been authorized by all Partners; and (f) Admission of any additional partner to the Partnership. This Section 10 shall prevail over Sections 11, 12, and 13.