Common use of Partnership Interest Pledge or Encumbrance Clause in Contracts

Partnership Interest Pledge or Encumbrance. No Partner may grant a security interest or otherwise pledge, hypothecate or encumber his, her or its interest in this Partnership or such Partner's distributions without the consent of all the Partners. It is understood that the Partners are under no obligation to give consent nor are they subject to liability for withholding consent.

Partnership Interest Pledge or Encumbrance. No Partner may grant a security interest in or otherwise pledge, hypothecate or encumber his, her or its his interest in this Partnership or such Partner's distributions hereunder without the prior written consent of all the Partners. It is understood that the Partners are under no obligation to give such consent nor are they subject to liability for withholding such consent.

Partnership Interest Pledge or Encumbrance. No Partner may grant a security interest in or otherwise pledge, hypothecate or encumber his, her or its his interest in this Partnership or such Partner's distributions without the consent of all the PartnersRequired Consent. It is understood that the Partners are under no obligation to give consent nor are they subject to liability for withholding consent.

Partnership Interest Pledge or Encumbrance. No Partner may grant a security interest in or otherwise pledge, hypothecate or encumber his, her or its his interest in this Partnership or such Partner's ’s distributions hereunder without the prior written consent of all the Partners. It is understood that the Partners are under no obligation to give such consent nor are they subject to liability for withholding such consent.