Common use of Substituted Partners Clause in Contracts

Substituted Partners. Except as otherwise explicitly provided for in Section 6.1(b) and Section 6.2(b), a transferee of any general or limited partnership interest in the Partnership may become a substituted General Partner or Limited Partner (as the case may be) in place of the transferor only upon the written consent of the General Partner. The General Partner or its Affiliates shall have the right to be a Limited Partner or to become a substituted Limited Partner. Unless a transferee of any Partnership interest of a Partner becomes a substituted General Partner or substituted Limited Partner in accordance with the provisions of this Agreement, such transferee shall not be entitled to any of the rights granted to a Partner hereunder other than the right to receive all or part of the share of the income, gains, losses, deductions, expenses, credits, distributions, or returns of capital to which his or its transferor would otherwise be entitled with respect to the Partnership interest so transferred.

Substituted Partners. Except as otherwise explicitly provided for in Section 6.1(b) and Section 6.2(b), a A transferee of any general or limited partnership interest in the Partnership may become a substituted General Partner or Limited Partner (as the case may be) ), as to the interest in the Partnership transferred, in place of the transferor only upon the written consent of the General Partner. The General Partner or its Affiliates affiliates shall have the right to be a Limited Partner or to become a substituted Limited Partner. Unless a transferee of any Partnership interest of a Partner becomes a substituted General Partner or substituted Limited Partner in accordance with the provisions of this Agreement, such transferee shall not be entitled to any of the rights granted to a Partner hereunder other than the right to receive all or part of the share of the income, gains, losses, deductions, expenses, credits, distributions, or returns of capital to which his or its transferor would otherwise be entitled with in respect to of the Partnership interest so transferred.