Common use of Limitations on Requirements for Consents Clause in Contracts

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E, 4.5F, 6.3A, 6.6A, 6.7 and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary an opinion to the effect that neither the grant nor the exercise of those powers is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal income tax purposes.

Appears in 6 contracts

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B), Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B), Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B)

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Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E, 4.5F, 6.3A, 6.6A, 6.7 and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until if, prior to the exercise of such powers, counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered delivers to the Depositary an opinion to the effect that neither the grant nor or the exercise of those powers is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal income tax purposes.

Appears in 6 contracts

Samples: Limited Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship), Limited Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship), Limited Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship)

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E, 4.5F, 6.3A, 6.6A, 6.7 6.7, 11.1A and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until if counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary renders an opinion to the effect that neither the grant nor or the exercise of those powers or the result thereof is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal federal income tax purposes.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Iii-G), Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Iii-G), Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Iii-G)

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E4.8, 4.5F6.1B, 6.2, 6.3A, 6.6A, 6.7 7.2C, 11.1A, and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until if counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary renders an opinion to the effect that neither the grant nor or the exercise of those powers powers, or the result thereof, is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders Holders, or will affect the classification of the Limited Partnership as a partnership for Federal federal income tax purposes.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Geodyne Institutional Pension Energy Inc LTD Partnership P-7), Limited Partnership Agreement (Geodyne Institutional Pension Energy Inc LTD Partnership P-7)

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E, 4.5F, 6.3A, 6.6A, 6.7 6.7, l1.lA and 12.5 shall 12.0 xxall not be deemed to be granted to the Unit Holders or exercisable by them unless and until if counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary renders an opinion to the effect that neither the grant nor or the exercise of those powers or the result thereof is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal federal income tax purposes.

Appears in 1 contract

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Iii-G)

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D4.50, 4.5E, 4.5F, 6.3A, 6.6A, 6.7 and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary an opinion to the effect that neither the grant nor the exercise of those powers is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal income tax purposes.

Appears in 1 contract

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B)

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Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D4.SD, 4.5E4.5X, 4.5F, 6.3A, 6.6A, 6.7 and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary an opinion to the effect that neither the grant nor the exercise of those powers is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal income tax purposes.

Appears in 1 contract

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B)

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E, 4.5F, 6.3A, 6.6A, 6.7 6.7, 00.xX and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until if counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary renders an opinion to the effect that neither the grant nor or the exercise of those powers or the result thereof is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal federal income tax purposes.

Appears in 1 contract

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Iii-G)

Limitations on Requirements for Consents. Notwithstanding anything to the contrary contained in this Agreement, the powers of the Unit Holders set forth in Sections 4.5D, 4.5E, 4.5F4.SD, 6.3A, 6.6A0.6A, 6.7 6.7, 11.1A and 12.5 shall not be deemed to be granted to the Unit Holders or exercisable by them unless and until if counsel for the Limited Partnership or counsel designated by Unit Holders owning at least 10% of the outstanding Depositary Units shall have delivered to the Depositary renders an opinion to the effect that neither the grant nor or the exercise of those powers or the result thereof is prohibited by the Act, will impair the limited liability of the Depositary or the Unit Holders or will affect the classification of the Limited Partnership as a partnership for Federal federal income tax purposes.

Appears in 1 contract

Samples: Limited Partnership Agreement (Geodyne Energy Income LTD Partnership Iii-G)

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