Common use of Spouses Clause in Contracts

Spouses. (i) As a condition to becoming or remaining a Limited Partner, each Limited Partner that is an individual and is or becomes married, shall cause his or her spouse to execute an agreement in the form of Exhibit C hereof. If an existing Limited Partner fails to have his or her spouse execute such agreement the Limited Partner shall thereafter lose all their rights hereunder except for the rights of a mere assignee and the Board of Supervisors shall thereafter have all voting rights with respect to his or her interest.

Spouses. (ia) As a condition to becoming or remaining a Limited Partner, each Limited Partner that is an individual and is or becomes married, shall cause his or her spouse to execute an agreement in the form of Exhibit C F hereof. If an existing Limited Partner fails to have his or her spouse execute such agreement agreement, the Limited Partner shall thereafter lose all their rights hereunder except for the rights of a mere assignee under the Act and the Board of Supervisors Directors shall thereafter have all voting rights with respect to his or her interest.