Common use of Substitute Limited Partner Clause in Contracts

Substitute Limited Partner. No Transferee of an Interest shall become a Substitute Limited Partner unless all of the following conditions have been satisfied, within such reasonable time period as the General Partner shall determine: (a) the Transfer is permitted under Section 7.01; (b) the Partnership receives a duplicate original of all documents effecting the Transfer from the Transferor to the Transferee; (c) the General Partner consents to the admission of the Transferee as a Substitute Limited Partner, which consent may be given or withheld in the General Partner's sole discretion; and (d) the Transferee has executed an instrument, in form and substance satisfactory to the General Partner, accepting and agreeing to be bound by all terms and conditions of this Agreement.

Substitute Limited Partner. No Transferee of an Interest shall become a Substitute Limited Partner unless all of the following conditions have been satisfiedsatisfied or waived by the General Partner, within such reasonable time period as the General Partner shall determine: (a) the The Transfer is permitted under Section 7.017.1; (b) the The Partnership receives a duplicate original of all documents effecting the Transfer from the Transferor to the Transferee; (c) the The General Partner consents in writing to the admission of the Transferee as a Substitute Limited Partner, which consent may be given granted or withheld in the General Partner's ’s sole discretion; and (d) the The Transferee has executed an instrument, in form and substance satisfactory to the General Partner, accepting and agreeing to be bound by all terms and conditions of this Agreement.

Substitute Limited Partner. No Transferee of an Interest shall become a Substitute Limited Partner unless all of the following conditions have been satisfied, within such reasonable time period as the General Partner shall determine:determine:‌ (a) the Transfer is permitted under Section 7.01; (b) the Partnership receives a duplicate original of all documents effecting the Transfer from the Transferor to the Transferee; (c) the General Partner consents to the admission of the Transferee as a Substitute Limited Partner, which consent may be given or withheld in the General Partner's sole discretion; and (d) the Transferee has executed an instrument, in form and substance satisfactory to the General Partner, accepting and agreeing to be bound by all terms and conditions of this Agreement.

Substitute Limited Partner. No Transferee of an Interest shall become a Substitute Limited Partner unless all of the following conditions have been satisfied, within such reasonable time period as the General Partner shall determine:determine:‌ (a) the Transfer is permitted under Section 7.01; (b) the Partnership receives a duplicate original of all documents effecting the Transfer from the Transferor to the Transferee; (c) the General Partner consents to the admission of the Transferee as a Substitute Limited Partner, which consent may be given or withheld in the General Partner's ’s sole discretion; and (d) the Transferee has executed an instrument, in form and substance satisfactory to the General Partner, accepting and agreeing to be bound by all terms and conditions of this Agreement.