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