Common use of Nonrecognition of an Unauthorized Transfer Clause in Contracts

Nonrecognition of an Unauthorized Transfer. The Partnership will not be required to recognize the interest of any Transferee who has obtained a purported transferred interest as the result of a Transfer that is not authorized by this Agreement and the Transfer shall be null and void for all purposes. If there is doubt as to ownership of an interest in the Partnership or who is entitled to distributions or liquidating proceeds or other property, the Partners may accumulate such property until the issue is resolved to the satisfaction of the Partners.

Nonrecognition of an Unauthorized Transfer. The Partnership will not be required to recognize the interest of any Transferee Assignee or transferee who has obtained a purported transferred interest Partnership Interest as the result of a Transfer that transfer or assignment which is not authorized by this Agreement and the Transfer shall be null and void for all purposesAgreement. If there is a doubt as to ownership of an interest in the a Partnership Interest or who is entitled to distributions Distributable Cash or liquidating proceeds or other propertyproceeds, the Partners General Partner may accumulate such property Distributable Cash or liquidation proceeds until the issue is resolved to the satisfaction of the PartnersGeneral Partner.