Common use of Partnership Interests and Capital Contributions Clause in Contracts

Partnership Interests and Capital Contributions. The interests in the Partnership shall be as follows: (a) The Partnership was capitalized by HFMH, L.C., a Texas limited liability company, (the “Original General Partner”) and certain Limited Partners. Pursuant to the First Amendment of the Limited Partnership Agreement, dated September 1, 1996, the General Partner purchased one-half the partnership interest owned by the Original General Partner. Pursuant to the Second Amendment of the Amended and Restated Limited Partnership Agreement, dated December 1, 1997, the General Partner purchased the remaining partnership of the Original General Partner and one half of the partnership interests owned by the Limited Partners. During March 1999, the General Partner purchased the remaining limited partnership interests owned by the Limited Partners. As a result of these contributions and transactions, the General Partner owns a 60% general partnership interest and 40 Units. (b) An Interim Limited Partner interest for which the Interim Limited Partner has contributed to capital of the Partnership the sum of $100.00 The Interim Limited Partner’s interest shall be redeemed for $100.00 upon the admission of the first Additional Limited Partner. (c) Not more than the Maximum Number of Units nor less than one Unit; provided, however, that the number of Units under this Section 3.02(c) shall be equal to the number of Units actually subscribed for and purchased by Additional Limited Partners. Each Additional Limited Partner shall make a capital contribution to the Partnership in cash or other form of consideration acceptable to the General Partner for each Unit subscribed for and purchased by such Additional Limited Partner, in accordance with the terms and conditions of the Memorandum. No more than the Maximum Number of Units shall be sold pursuant to an offering of Units as described in a Memorandum.