Common use of Pledge of Partnership Interest Clause in Contracts

Pledge of Partnership Interest. Nothing in this Agreement including, without limitation, Sections 5.1 and 5.2 shall prevent any Partner from pledging its Partnership Interest to any financial institution, whether acting on its own behalf or as Collateral Trustee or Agent, to which such Partner or the Partnership has incurred or guaranteed any obligation, and neither any such financial institution which exercises its rights and remedies under any such pledge agreement nor any person who becomes a holder of Partnership Interests as the result thereof or its successors or assigns shall be bound by the restrictions set forth in Sections 5.1 and 5.2.

Pledge of Partnership Interest. Nothing in this Agreement including, without limitation, Sections 5.1 and 5.2 Section 5.1, shall prevent any Partner from pledging its Partnership Interest to any financial institution, whether acting on its own behalf or as Collateral Trustee a collateral trustee or Agentan agent, to which such Partner or the Partnership has incurred or guaranteed any obligation, and neither any such financial institution which exercises its rights and remedies under any such pledge agreement nor any person who becomes a holder of Partnership Interests as the result thereof or its successors or assigns shall be bound by the restrictions set forth in Sections 5.1 and 5.2Section 5.1.