Common use of Purchase or Sale of Partnership Interests Clause in Contracts

Purchase or Sale of Partnership Interests. The General Partner may cause the Partnership to purchase or otherwise acquire Partnership Interests. Notwithstanding any other provision of this Agreement or otherwise applicable provision of law or equity, any Partnership Interests or options, rights, warrants, appreciation rights or phantom or tracking interests relating to Partnership Interests that are purchased or otherwise acquired by the Partnership or any Group Member may, in the sole discretion of the General Partner, be canceled or held by the Partnership in treasury and, if so held in treasury, shall no longer be deemed to be Outstanding for any purpose. For the avoidance of doubt, Partnership Interests or options, rights, warrants, appreciation rights or phantom or tracking interests relating to Partnership Interests that are canceled or held by the Partnership in treasury (i) shall not be allocated Net Income (Loss) pursuant to Article VI, (ii) shall not be entitled to distributions pursuant to Article VI, and (iii) shall neither be entitled to vote nor be counted for quorum purposes.

Purchase or Sale of Partnership Interests. The General Partner may cause the Partnership to purchase or otherwise acquire Partnership Interests. Notwithstanding any other provision of this Agreement or otherwise applicable provision of law or equity, any Partnership Interests or options, rights, warrants, warrants or appreciation rights or phantom or tracking interests relating to Partnership Interests that are purchased or otherwise acquired by the Partnership or any Group Member may, in the sole discretion of the General Partner, be canceled or held by the Partnership in treasury and, if so held in treasury, shall no longer be deemed to be Outstanding for any purpose. For the avoidance of doubt, (a) Partnership Interests or options, rights, warrants, warrants or appreciation rights or phantom or tracking interests relating to Partnership Interests that are canceled or held by the Partnership in treasury (i) shall not be allocated Net Income (Loss) pursuant to Article VI, VI and (ii) shall not be entitled to distributions pursuant to Article VI, and (iiib) shall neither be entitled to vote nor be counted for quorum purposes.