Common use of RESTRICTIONS ON SUCCESSOR IN INTEREST Clause in Contracts

RESTRICTIONS ON SUCCESSOR IN INTEREST. The Successor in Interest shall be subject to all of the restrictions specified in this Article 6 applicable to the assignee of an interest and shall not become a substitute Limited Partner except upon compliance with the conditions hereinabove specified. The Successor in Interest shall be entitled to receive all sums payable with respect to the interest of the Partner to which the Successor in Interest succeeds. If agreed to by the General Partner, the Successor in Interest of a deceased former Limited Partner shall be deemed to be the recipient, for federal income tax purposes, of the portion of the deceased former Limited Partner's distributive share of the Profit or Loss (or items thereof) of the Partnership for the taxable year during which the deceased former Limited Partner died in proportion to the part of the year that the Successor in Interest is entitled to such Profit or Loss.

RESTRICTIONS ON SUCCESSOR IN INTEREST. The Successor in --------------------------------------- Interest shall be subject to all of the restrictions specified in this Article 6 applicable to the assignee of an interest and shall not become a substitute Limited Partner except upon compliance with the conditions hereinabove specified. The Successor in Interest shall be entitled to receive all sums payable with respect to the interest of the Partner to which the Successor in Interest succeeds. If agreed to by the General Partner, the Successor in Interest of a deceased former Limited Partner shall be deemed to be the recipient, for federal income tax purposes, of the portion of the deceased former Limited Partner's distributive share of the Profit or Loss (or items thereof) of the Partnership for the taxable year during which the deceased former Limited Partner died in proportion to the part of the year that the Successor in Interest is entitled to such Profit or Loss.