Common use of PLEDGED PARTNERSHIP INTERESTS/COVENANT NOT TO DILUTE Clause in Contracts

PLEDGED PARTNERSHIP INTERESTS/COVENANT NOT TO DILUTE. Each Grantor represents, warrants and covenants to Agent that it will (a) not at any time cause or permit any Pledged Partnership Entities to issue any additional partnership interests or any other rights or options to acquire any additional partnership interests, other than to the Grantors or as otherwise permitted under the Reimbursement Agreement, and (b) pledge to Agent in accordance with the terms hereof, promptly upon its acquisition (directly or indirectly) thereof, and in any event, within 5 days of such acquisition, any and all additional Partnership Interests of each Pledged Partnership Entity.

PLEDGED PARTNERSHIP INTERESTS/COVENANT NOT TO DILUTE. Each Grantor represents, warrants and covenants to the Agent that it will (a) not at any time cause or permit any Pledged Partnership Entities to issue any additional partnership interests or any other rights or options to acquire any additional partnership interests, other than to the Grantors or as otherwise permitted under the Reimbursement Purchase Agreement, and (b) pledge to the Agent in accordance with the terms hereof, promptly upon its acquisition (directly or indirectly) thereof, and in any event, within 5 days of such acquisition, any and all additional Partnership Interests of each Pledged Partnership Entity.