Common use of Sale of Interest Clause in Contracts

Sale of Interest. In addition to the circumstances described in Section 10.3, if, at any time, the General Partner determines, after consultation with the affected Limited Partner and counsel to the General Partner, that there is a reasonable likelihood that the continuing participation in the Partnership by any Limited Partner might: (i) cause the Partnership or any Partner to be subject to a requirement to register as an investment company under the Investment Company Act, or (ii) have a Material Adverse Effect, such Limited Partner will, upon the written request of the General Partner, use its best efforts to dispose of its entire Interest (or such portion of its Interest that, in the good faith judgment of the General Partner, is sufficient to prevent or remedy the circumstance described above) to any Person at a price acceptable to such Limited Partner, in a transaction that complies with Section 10.1.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Equisource Hotel Fund I, LLP), Limited Partnership Agreement (CapSource Fund I, LP), Limited Liability Partnership Agreement (Equisource Hotel Fund I, LLP)

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