Third Party Sales. The Partnership is not affiliated in any way with the Bidder, and the money that may be paid to Limited Partners for Units tendered in the Offer will not come from, or through, the Partnership. Once the Partnership receives sufficient evidence of a sale from both the seller and buyer directing the Partnership to transfer the Units, the Units are transferred to the buyer upon the approval of the General Partner, The Provo Group, Inc. (“TPG”). The Partnership will not be responsible for making sure any seller is paid. However, under the IRS Safe Harbor rules, in one year TPG can only approve the transfers of Units sold up to 2% of the total number of Partnership Units outstanding (46,280.
Appears in 4 contracts
Samples: Third Party Tender Offer (Divall Insured Income Properties 2 Limited Partnership), Tender Offer Agreement (Divall Insured Income Properties 2 Limited Partnership), Third Party Tender Offer (Divall Insured Income Properties 2 Limited Partnership)
Third Party Sales. The Partnership is not affiliated in any way with the Bidder, Bidder and the money that may be paid to Limited Partners tendered for Units tendered in the Offer will not come from, or through, the Partnership. Once the Partnership receives sufficient evidence of a sale from both the seller and buyer directing the Partnership to transfer the Units, the Units are transferred to the buyer upon the approval of the General Partner, The Provo Group, Inc. (“TPG”). The Partnership will not be responsible for making sure any seller is paid. However, under the IRS Safe Harbor rules, in one year TPG can only approve the transfers of Units sold up to 2% of the total number of Partnership Units outstanding (46,280.
Appears in 2 contracts
Samples: Purchase Agreement (Divall Insured Income Properties 2 Limited Partnership), Tender Offer Agreement (Divall Insured Income Properties 2 Limited Partnership)
