Common use of Transfer and Assignment of Partnership Interest Clause in Contracts

Transfer and Assignment of Partnership Interest. (a) To the extent permitted by Section 7.02, a Limited Partner or Assignee shall have the right to Assign all or any portion of its Units by a signed, written assignment document in compliance with and subject to Sections 7.04 and 7.05, provided that (i) the terms of such assignment document are not in contravention of any of the provisions of this Agreement; (ii) such assignment document is fully executed by the assignor and Assignee; (iii) such assignment document is received by the Partnership and recorded on the books thereof, (iv) the General Partner, in its sole discretion, approves the Assignment documents and, to the extent required by Section 7.02, approves the Assignment, and (v) the Partner provides an opinion of counsel, if required by the General Partner, satisfactory to the General Partner, that no material adverse tax or securities law effects will result to the Partnership or the other Partners from such Assignment.

Transfer and Assignment of Partnership Interest. (a) To the extent permitted by Section 7.02, a Limited Partner or Assignee shall have the right to Assign all or any portion of its Units by a signed, written assignment document in compliance with and subject to Sections 7.04 and 7.05, provided that PROVIDED THAT (i) the terms of such assignment document are not in contravention of any of the provisions of this Agreement; (ii) such assignment document is fully executed by the assignor and Assignee; (iii) such assignment document is received by the Partnership and recorded on the books thereof, ; (iv) the General Partner, in its sole discretion, approves the Assignment documents and, to the extent required by Section 7.02, approves the Assignment, and (v) the Partner provides an opinion of counsel, if required by the General Partner, satisfactory to the General Partner, that no material adverse tax or securities law effects will result to the Partnership or the other Partners from such Assignment.