Common use of Partner Representations Clause in Contracts

Partner Representations. Each of the Partners, by execution of this Agreement, and each assignee or transferee of a Partner by acceptance of the rights and interests of his assignor or transferor in the Partnership, represents and warrants to and covenants and agrees with the Partnership and the other Partner that such Partner's interest has been acquired under this Agreement for such Partner's own account, for investment, and not with a view to or for sale in connection with any distribution thereof or with any present intention of distributing or selling such interest. The Limited Partner hereby further represents and warrants to the Partnership and the General Partner as follows: (i) The Limited Partner has such knowledge and experience in financial and business matters, including investing in or dealing with ventures similar to that of the Partnership, that it is capable of evaluating the merits and risks of an investment in the Partnership. The Limited Partner is able to bear the economic risk of an investment in the Partnership, including the risk of holding indefinitely any Partnership Interest acquired hereunder. (ii) The Limited Partner has been afforded full access to representatives of the General Partner for purposes of such inquiry as such Limited Partner deems appropriate, and all information requested by the Limited Partner concerning the Partnership has been supplied. (iii) The Limited Partner recognizes that the Partnership is engaged in an enterprise of high and inherent risks.

Partner Representations. Each of the Partners, by execution of this Agreement, and each assignee or transferee of a Partner by acceptance of the rights and interests of his assignor or transferor in the Partnership, represents and warrants to and covenants and agrees with the Partnership and the other Partner that such Partner's interest has been acquired under this Agreement for such Partner's own account, for investment, and not with a view to or for sale in connection with any distribution thereof or with any present intention of distributing or selling such interest. The Limited Partner hereby further represents and warrants to the Partnership and the General Partner as follows: (i) The Limited Partner has such knowledge and experience in financial and business matters, including investing in or dealing with real estate ventures similar to that of the Partnership, that it is capable of evaluating the merits and risks of an investment in the Partnership. The Limited Partner is able to bear the economic risk of an investment in the Partnership, including the risk of holding indefinitely any Partnership Interest acquired hereunder. (ii) The Limited Partner has been afforded full access to representatives of the General Partner for purposes of such inquiry as such Limited Partner deems appropriate, and all information requested by the Limited Partner concerning the Partnership has been supplied. (iii) The Limited Partner recognizes that the Partnership is engaged in an enterprise of high and inherent risks.

Partner Representations. Each of the Partners, by execution of this Agreement, and each assignee or transferee of a Partner by acceptance of the rights and interests of his assignor or transferor in the Partnership, represents and warrants to and covenants and agrees with the Partnership and the other Partner that such Partner's interest has been acquired under this Agreement for such Partner's own account, for investment, and not with a view to or for sale in connection with any distribution thereof or with any present intention of distributing or selling such interest. The Limited Partner hereby further represents and warrants to the Partnership and the General Partner as follows: (i) The Limited Partner has such knowledge and experience in financial and business matters, including investing in or dealing with real estate ventures similar to that of the Partnership, that it is capable of evaluating the merits and risks of an investment in In the Partnership. The Limited Partner is able to bear the economic risk of an investment in the Partnership, including the risk of holding indefinitely any Partnership Interest acquired hereunder. (ii) The Limited Partner has been afforded full access to representatives of the General Partner for purposes of such inquiry as such Limited Partner deems appropriate, and all information requested by the Limited Partner concerning the Partnership has been supplied. (iii) The Limited Partner recognizes that the Partnership is engaged in an enterprise of high and inherent risks.