Common use of Status of an Assigning Limited Partner Clause in Contracts

Status of an Assigning Limited Partner. Any Limited Partner (other than the Corporate Limited Partner) who shall Assign all of his Interest shall cease to be a Limited Partner of the Partnership and shall no longer have any of the rights or privileges of a Limited Partner, except that unless and until a Substitute Limited Partner is admitted in his stead, such assigning Limited Partner shall retain the statutory rights of an assignor of a limited partner interest under the Act.

Status of an Assigning Limited Partner. Any Limited Partner (other than the Corporate Limited Partner) who shall Assign all of his Interest shall cease to be a Limited Partner of the Partnership and shall no longer have any of the rights or privileges of a Limited Partner, except that unless and until a Substitute Limited Partner is admitted in his stead, such assigning Limited Partner shall retain the statutory rights of an assignor of a limited partner interest under the Massachusetts Uniform Limited Partnership Act.

Status of an Assigning Limited Partner. Any Limited Partner (other than the Corporate Limited Partner) who shall Assign all of his Interest shall cease to be a Limited Partner of the Partnership and shall no longer have any of the rights or privileges of a Limited Partner, except that unless and until a Substitute Limited Partner is admitted in his stead, such assigning Limited Partner shall retain the statutory rights of an assignor of a limited partner interest under the Massachusetts Uniform Limited Partnership Act.

Status of an Assigning Limited Partner. Any Limited Partner (other than the Corporate Limited Partner) who shall Assign assign all of his Interest its Limited Partner interest in the Partnership in accordance with Section 9.1 shall cease to be a Limited Partner of the Partnership Partnership, and shall no longer have any of the rights or privileges of a Limited Partner, except that unless and until a Substitute substitute Limited Partner is admitted in his its stead, such assigning Limited Partner shall retain the statutory rights of an assignor of a limited partner partnership interest under the Act.