Common use of Transfer of General Partner Interest Clause in Contracts

Transfer of General Partner Interest. The General Partner may transfer all, but not less than all, of its general partner interest in the Partnership without the approval of the Limited Partners to an Affiliate provided that such transferee satisfies the requirements set forth in Section 7.17 and assumes the rights and duties of the General Partner and agrees to be bound by the provisions of this Agreement.

Appears in 3 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement, Limited Partnership Agreement

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Transfer of General Partner Interest. The To transfer a General Partner may transfer all, but not less than all, of its general partner Partner's interest in the Partnership without the approval of the Limited Partners to an Affiliate provided that such transferee satisfies the requirements set forth in Section 7.17 and assumes the rights and duties of as the General Partner and agrees to be bound by in the provisions of Partnership, except as permitted in this Agreement.;

Appears in 2 contracts

Samples: Limited Partnership Agreement (Portsmouth Square Inc), Intergroup Corp

Transfer of General Partner Interest. The General Partner may transfer all, but not less than all, all or any part of its general partner interests in the Partnership without unitholder approval. No transfer by the General Partner of all or any part of its general partner interest in is permitted unless (1) the Partnership without the approval of the Limited Partners transferee agrees to an Affiliate provided that such transferee satisfies the requirements set forth in Section 7.17 and assumes assume the rights and duties of the General Partner and be bound the amended and restated partnership agreement, (2) the Partnership receives an opinion of counsel regarding limited liability and tax matters, and (3) such transferee agrees to be bound by purchase all of the provisions partnership interest of this Agreement.the General Partner as the general partner of the Partnership, Not applicable. 106

Appears in 1 contract

Samples: Agreement and Plan of Merger

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Transfer of General Partner Interest. The A General Partner may transfer all, but not less than all, of its general partner interest in the General Partnership without the approval of the Limited Partners Interest to an Affiliate any Person provided that such transferee satisfies the requirements set forth in Section 7.17 and assumes the rights and duties of the a General Partner and agrees to be bound by the provisions of this Agreement.

Appears in 1 contract

Samples: Limited Partnership Agreement (Enerplus Resources Fund)

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