Common use of Restrictions on Transfer of Limited Partnership Interests Clause in Contracts

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IX, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 4 contracts

Samples: Partnership Interest Purchase and Exchange Agreement (United Dominion Realty Trust Inc), United Dominion Realty Trust Inc, United Dominion Realty Trust Inc

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Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IXSection 9.02(d) hereof, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 3 contracts

Samples: Condor Hospitality Trust, Inc., Agreement (Supertel Hospitality Inc), Agreement (Supertel Hospitality Inc)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IXSubject to the provisions of 9.02(b), no (c) and (d), a Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of his Limited Partnership Interest, in whole or in partany of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") with or without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 3 contracts

Samples: INREIT Real Estate Investment Trust, INREIT Real Estate Investment Trust, INREIT Real Estate Investment Trust

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IX, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 2 contracts

Samples: Winston Hotels Inc, Equity Inns Inc

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IX, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his its Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") or withdraw or retire from the Partnership, without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith. In no event may a Partner have any rights to distributions pursuant to Act Section 17-604.

Appears in 2 contracts

Samples: Notice and Agreement (Stirling Hotels & Resorts, Inc.), Contribution Agreement (Ashford Hospitality Trust Inc)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IX, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner, provided that the General Partner shall not unreasonably withhold its consent to a Transfer by a Limited Partner to a Limited Transferee. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 2 contracts

Samples: United Dominion Realty L P, UDR, Inc.

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IXSubject to the provisions of 9.2(b) and (c), no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of his Limited Partnership Interest, in whole or in partany of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be granted or withheld in the its sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewithdiscretion.

Appears in 1 contract

Samples: Limited Partnership Agreement (Passco Apartment REIT, Inc.)

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Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IX, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise other wise transfer his Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor transfer or assume all costs incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Agreement (W2007 Grace Acquisition I Inc)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IX, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his its Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") ”), without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Stonehaven Realty Trust)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IXSubject to the provisions of 9.2(b), no (c) and (d), a Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of his or her Limited Partnership Interest, in whole or in partany of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") with or without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Limited Partnership Agreement (Dakota Real Estate Investment Trust)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in this Article IXSubject to the provisions of Section 9.1, no Sections 9.2(b), (c), (d) and (e) and Section 9.7 and any other restrictions expressly set forth herein, a Limited Partner may offer, sell, assign, hypothecate, pledge Transfer all or otherwise transfer his any portion of its Limited Partnership Interest, in whole or in partany of such Limited Partner's economic rights as a Limited Partner, whether voluntarily with or by operation of law or at judicial sale or otherwise (collectively, a "Transfer") without the written consent of the General Partner, which consent may be withheld in the sole and absolute discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs reasonably incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Agreement (Timberland Growth Corp)

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