Limit on Number of Partners. No Person shall be admitted to the Partnership as an Additional Partner if the effect of such admission would be to cause the Partnership to have more than 500 Partners, including as Partners for this purpose those Persons indirectly owning an Interest in the Partnership through another partnership, subchapter S corporation or a grantor trust.
Appears in 3 contracts
Samples: Tanger Factory Outlet Centers Inc, Tanger Properties LTD Partnership /Nc/, Tanger Factory Outlet Centers Inc
Limit on Number of Partners. No Person The Partnership shall be admitted to the Partnership as an Additional Partner if the effect of such admission would be to cause the Partnership to not at any time have more than 500 Partners, 100 Partners (including as Partners for this purpose those Persons persons indirectly owning an Interest interest in the Partnership through another a partnership, subchapter limited liability company, S corporation or grantor trust (such entity, a grantor trust"flow through entity"), but only if substantially all of the value of such person's interest in the flow through entity is attributable to the flow through entity's interest (direct or indirect) in the Partnership).
Appears in 3 contracts
Samples: National Golf Properties Inc, National Golf Properties Inc, National Golf Properties Inc
Limit on Number of Partners. No Person shall be admitted to the Partnership as an Additional Partner if the effect of such admission would be to cause the Partnership to have more than 500 100 Partners, including as Partners for this purpose those Persons indirectly owning an Interest interest in the Partnership through another partnership, subchapter S corporation a Flow-Through Entity if substantially all of the value of such Person’s interest in the Flow-Through Entity is attributable to the Flow-Through Entity’s interest (direct or a grantor trustindirect) in the Partnership.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Tanger Properties LTD Partnership /Nc/), Limited Partnership Agreement (Tanger Properties LTD Partnership /Nc/), Limited Partnership Agreement (Tanger Properties LTD Partnership /Nc/)
Limit on Number of Partners. No Person shall be admitted to the Partnership as an Additional Partner if the effect of such admission would be to cause the Partnership to have more than 500 100 Partners, including as Partners for this purpose those Persons indirectly owning an Interest interest in the Partnership through another partnership, subchapter S corporation a Flow-Through Entity if substantially all of the value of such Person’s interest in the Flow-Through Entity is attributable to the Flow-Through Entity’s interest (direct or a grantor trust.indirect) in the Partnership. NY\5888591.8
Appears in 1 contract
Samples: Limited Partnership Agreement (Tanger Properties LTD Partnership /Nc/)
