Common use of Transfer of General Partnership Interests of the General Partner Clause in Contracts

Transfer of General Partnership Interests of the General Partner. (a) Subject to the provisions of Section 12.02, the General Partner may sell or otherwise transfer its General Partnership Interest to any Person that is or in connection with the sale or transfer becomes a General Partner, without any approval of the Partners and without obtaining an Assignment Determination. Any Person acquiring a General Partnership Interest as permitted by this Section 12.04 shall be entitled to be admitted as a general partner. Subject to the provisions of Section 12.02, the General Partner may effect sales or transfers as provided by this Section without regard to the consequences thereof to the Partnership, other Partners or any other Persons. The General Partner may not sell or otherwise transfer its General Partnership Interest except as provided in this Section 12.04.

Transfer of General Partnership Interests of the General Partner. (a) Subject to the provisions of Section 12.02, the The General Partner may sell or otherwise transfer its General Partnership Interest to any Person that is or in connection with the sale or transfer becomes a General Partner, without any approval of the Unitholders or Partners and without obtaining an Assignment Determination. Any Person acquiring a General Partnership Interest as permitted by this Section 12.04 12.02 shall be entitled to be admitted as a general partner. Subject to the provisions of Section 12.02, the The General Partner may effect sales or transfers as provided by this Section without regard to the consequences thereof to the Partnership, other Partners Partners, Unitholders or any other Persons. The General Partner may not sell or otherwise transfer its General Partnership Interest except as provided in this Section 12.0412.02.