Common use of Status as Limited Partner Clause in Contracts

Status as Limited Partner. A Subscriber shall become a Limited Partner in the Partnership upon receipt by the Partnership of the subscription amount, acceptance of the subscription agreement, and upon entry of the subscriber’s name in the records of the Partnership as a Limited Partner. In its discretion, the General Partner may cause the withdrawal of any Limited Partner and the redemption of that Limited Partner’s interest in the Partnership pursuant to Paragraph 9(b) upon 10 days’ written notice to such Limited Partner (or to any assignee of such Partner’s interest).

Status as Limited Partner. A Subscriber shall become a Limited Partner in the Partnership upon receipt by the Partnership of the subscription amount, acceptance of the subscription agreement, and upon entry of the subscriber’s 's name in the records of the Partnership as a Limited Partner. In its discretion, the General Partner may cause the withdrawal of any Limited Partner and the redemption of that Limited Partner’s 's interest in the Partnership pursuant to Paragraph 9(b) upon 10 days’ ' written notice to such Limited Partner (or to any assignee of such Partner’s 's interest).