Ownership of Partnership Interests. (a) Seller is the sole legal, beneficial, record and equitable owner of 7% of the issued and outstanding partnership interests of the Partnership (the “Partnership Interests”), free and clear of all Encumbrances. (b) To Seller's knowledge, the Partnership Interests were issued in compliance with applicable laws. To Seller's knowledge, the Partnership Interests were not issued in violation of the Organizational Documents of the Partnership any other agreement, arrangement or commitment to which Seller is a party. (c) To Seller’s knowledge, other than the Organizational Documents of Seller and the LPA, there are no other agreements or understandings in effect with respect to the voting or transfer of any of the Partnership Interests.
Appears in 2 contracts
Samples: Partnership Interest Purchase Agreement (HF Enterprises Inc.), Partnership Interest Purchase Agreement (SeD Intelligent Home Inc.)
Ownership of Partnership Interests. (a) Seller is the sole legal, beneficial, record and equitable owner of 724% of the issued and outstanding partnership interests of the Partnership (the “Partnership Interests”), free and clear of all Encumbrances.
(b) To Seller's knowledge, the Partnership Interests were issued in compliance with applicable laws. To Seller's knowledge, the Partnership Interests were not issued in violation of the Organizational Documents of the Partnership any other agreement, arrangement or commitment to which Seller is a party.
(c) To Seller’s knowledge, other than the Organizational Documents Trust Agreement of Seller and the LPA, there are no other agreements or understandings in effect with respect to the voting or transfer of any of the Partnership Interests.
Appears in 2 contracts
Samples: Partnership Interest Purchase Agreement (SeD Intelligent Home Inc.), Partnership Interest Purchase Agreement (HF Enterprises Inc.)
