Common use of Requirements on Transfer Clause in Contracts

Requirements on Transfer. For any transfer of a Partner’s Partnership Interest, the General Partner may require any or all of the following: (a) That the transferee, at the General Partner’s option, either take the transferor’s place in the Partnership and become a party to this Agreement and any other applicable agreement between the transferor and the General Partner, or undertake obligations to the General Partner equivalent to those of the transferor; (b) That the transferee be, or be guaranteed by, an entity that, in the General Partner’s reasonable opinion, is financially and otherwise ready, willing and able to perform its obligations under 11.4(a) above; (c) That the transferor and the transferee execute and deliver documents pertaining to the transfer that are satisfactory to the General Partner; and (d) That the transferor and/or the transferee pay the Partnership’s expenses, including legal expenses and legal fees, incident to the transfer.

Requirements on Transfer. For any transfer of a Partner’s Partnership Interest, the General Partner may require any or all of the following: (a) That the transferee, at the General Partner’s option, either take the transferor’s place in the Partnership and become a party to this Agreement and any other applicable agreement between the transferor and the General Partner, or undertake obligations to the General Partner equivalent to those of the transferor; (b) That the transferee be, or be guaranteed by, an entity that, in the General Partner’s reasonable opinion, is financially and otherwise ready, willing and able to perform its obligations under 11.4(a) above;; [WP: JGC/ACT, L.P. L. PARTNERSHIP] 1-DEC-91 (c) That the transferor and the transferee execute and deliver documents pertaining to the transfer that are satisfactory to the General Partner; and (d) That the transferor and/or the transferee pay the Partnership’s expenses, including legal expenses and legal fees, incident to the transfer.

Requirements on Transfer. For any transfer of a Partner’s 's Partnership Interest, the General Partner may require any or all of the following: (a) That the transferee, at the General Partner’s 's option, either take the transferor’s 's place in the Partnership and become a party to this Agreement and any other applicable agreement between the transferor and the General Partner, or undertake obligations to the General Partner equivalent to those of the transferor; (b) That the transferee be, or be guaranteed by, an entity that, in the General Partner’s 's reasonable opinion, is financially and otherwise ready, willing and able to perform its obligations under 11.4(a) above; (c) That the transferor and the transferee execute and deliver documents pertaining to the transfer that are satisfactory to the General Partner; and (d) That the transferor and/or the transferee pay the Partnership’s 's expenses, including legal expenses and legal fees, incident to the transfer.