Common use of Limit on Number of Partners Clause in Contracts

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, or otherwise cause the Partnership to become a reporting company under the Securities Exchange Act of 1934, as amended.

Appears in 2 contracts

Samples: Iac Capital Trust, Irvine Apartment Communities L P

AutoNDA by SimpleDocs

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, or otherwise cause the Partnership to become a reporting company under the Securities Exchange Act of 1934, as amended.. 80 86 ARTICLE 13

Appears in 2 contracts

Samples: Irvine Co Et Al, Irvine Apartment Communities L P

Limit on Number of Partners. No Person shall be admitted to the Partnership as a Substituted Limited Partner or an additional Additional Limited Partner if the effect of such admission would be to cause the Partnership to have more than 500 one hundred (100) Partners, including as Partners for this purpose those Persons indirectly owning an interest in the Partnership through another partnership, a limited liability company, a subchapter S corporation or a grantor trust, or otherwise cause the Partnership to become a reporting company under the Securities Exchange Act of 1934, as amendedAct.

Appears in 1 contract

Samples: Agreement (Price Reit Inc)

AutoNDA by SimpleDocs

Limit on Number of Partners. No Person shall be admitted to the Partnership as an additional 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, or otherwise cause the Partnership to become a reporting company under the Securities Exchange Act of 1934, as amendedAct.

Appears in 1 contract

Samples: Center Trust Inc

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!