Common use of Publicly Traded Partnership Provision Clause in Contracts

Publicly Traded Partnership Provision. Each Member hereby severally covenants and agrees with each of the other Members for the benefit of all Members, that (a) it is not currently making a market in interests in the Operating Company and will not in the future make such a market and (b) it will not transfer its interest in the Operating Company on an established securities market, a secondary market or an over-the-counter market or the substantial equivalent thereof within the meaning of Section 7704 of the Code and Treasury Regulations and rulings and other pronouncements of the Internal Revenue Service or the Department of the Treasury thereunder. Subject to Article 12, each Member further agrees that it will not assign any interest in the Operating Company to any assignee except in compliance with Article 12, and unless such assignee agrees to be bound by this Section 14.12 and to assign such interest only to such Persons who agree to be similarly bound.

Publicly Traded Partnership Provision. Each Member hereby severally covenants and agrees with each of the other Members for the benefit of all Members, that (ai) it is not currently making a market in interests in the Operating Company and will not in the future make such a market and (bii) it will not transfer its interest in the Operating Company on an established securities market, a secondary market or an over-the-counter market or the substantial equivalent thereof within the meaning of Section 7704 of the Code and Treasury Regulations and rulings and other pronouncements of the Internal Revenue Service or the Department of the Treasury thereunder. Subject to Article 12X, each Member further agrees that it will not assign any interest in the Operating Company to any assignee except in compliance with Article 12X, and unless such assignee agrees to be bound by this Section 14.12 12.14 and to assign such interest only to such Persons who agree to be similarly bound.

Publicly Traded Partnership Provision. Each Member hereby severally covenants and agrees with each of the other Members for the benefit of all Members, that (ai) it is not currently making a market in interests in the Operating Company and will not in the future make such a market and (bii) it will not transfer its interest in the Operating Company on an established securities market, a secondary market or an over-the-counter market or the substantial equivalent thereof within the meaning of Section 7704 of the Code and Treasury Regulations and rulings and other pronouncements of the Internal Revenue Service or the Department of the Treasury thereunder. Subject to Article 12ARTICLE IX, each Member further agrees that it will not assign any ay interest in the Operating Company to any assignee except in compliance with Article 12ARTICLE IX, and unless such assignee agrees to be bound by this Section 14.12 11.14 and to assign such interest only to such Persons who agree to be similarly bound.

Publicly Traded Partnership Provision. Each Member hereby severally covenants and agrees with each of the other Members for the benefit of all Members, that (ai) it is not currently making a market in interests in the Operating Company and will not in the future make such a market and (bii) it will not transfer its interest in the Operating Company on an established securities market, a secondary market or an over-the-counter market or the substantial equivalent thereof within the meaning of Section 7704 of the Code and Treasury Regulations and rulings and other pronouncements of the Internal Revenue Service or the Department of the Treasury thereunder. Subject to Article 12ARTICLE IX, each Member further agrees that it will not assign any interest in the Operating Company to any assignee except in compliance with Article 12ARTICLE IX, and unless such assignee agrees to be bound by this Section 14.12 10.14 and to assign such interest only to such Persons who agree to be similarly bound.