Common use of Status of Interests Transferred Clause in Contracts

Status of Interests Transferred. In any transfer, assignment or conveyance of a general or limited partnership interest herein by a Partner to any other Partner or other person, by the express terms of this Agreement or by operation of law, subject to Article V hereof, the transferee or assignee shall succeed to the same share of profits and losses of the Partnership and the same Contribution Percentages, Participation Percentages, distribution priorities and ownership rights as were incident to the interest so transferred, assigned or conveyed.

Status of Interests Transferred. In any transfer, assignment or conveyance (or retransfer, reassignment or reconveyance) of a general or limited partnership interest herein by a Partner to any other Partner or other person, by the express terms of this Agreement or by operation of law, subject to Article V hereof, the transferee or assignee shall succeed to the same share of profits Net Income and losses Net Losses of the Partnership and the same Contribution Percentages, Participation Base Percentages, distribution priorities and ownership rights as were incident to the interest so transferred, assigned or conveyed.

Status of Interests Transferred. In any transfer, assignment or conveyance (or retransfer, reassignment or reconveyance) of a general or limited partnership interest herein by a Partner to any or other Partner or other person, by the express terms of this Agreement or by operation of law, subject to Article V hereof, the transferee or assignee shall succeed to the same share of profits and losses of the Partnership and the same Contribution Percentages, Participation Percentages, distribution priorities and ownership rights as were incident to the interest so transferred, assigned or conveyed.