RIGHTS OF ASSIGNEES OF INTERESTS Sample Clauses

RIGHTS OF ASSIGNEES OF INTERESTS. (a) Subject to the provisions of Sections 9.2 and 9.3 hereof, except as required by operation of law, the Partnership shall not be obligated for any purposes whatsoever to recognize the assignment by any Limited Partner of its Interest until the Partnership has received notice thereof. If the applicable Limited Partner, in its sole and absolute discretion, does not consent to the admission of any transferee of any Interest as a Substitute Limited Partner in connection with a Transfer permitted by Section 9.2, such transferee shall be considered an assignee for the purposes of this Agreement. An assignee shall be entitled to all the rights of an assignee of a limited partnership interest under the Act, including the right to receive distributions attributable to the Interests assigned. (b) Any Person who is the assignee of all or any portion of a Limited Partner’s Interest, but does not become a Substitute Limited Partner and desires to make a further assignment of such Interest, shall be subject to all of the provisions of this Article IX to the same extent and in the same manner as any Limited Partner desiring to make an assignment of its Interest.