Common use of Transfer of Interest of General Partner Clause in Contracts

Transfer of Interest of General Partner. A General Partner may not Transfer all or any portion of its Interest as the General Partner except to Persons who have agreed to be bound by all of the terms of this Agreement and applicable law and with the affirmative vote of Partners holding at least a majority of the total number of votes eligible to be cast by all Partners. If a General Partner Transfers its entire Interest as General Partner, it will not cease to be a General Partner unless and until the transferee is admitted to the Partnership as a substituted General Partner pursuant to Section 2.6(a) of this Agreement. In executing this Agreement, each Partner is deemed to have consented to any Transfer contemplated by this Section 4.3.

Transfer of Interest of General Partner. A General Partner may not Transfer all or any portion of its Interest as the General Partner except to Persons who have agreed to be bound by all of the terms of this Agreement and applicable law and with the affirmative vote of Partners holding at least a majority of the total number of votes eligible to be cast by all Partners. If a General Partner Transfers its entire Interest as General Partner, it will not cease to be a General Partner unless and until the transferee is admitted to the Partnership as a substituted General Partner pursuant to Section 2.6(aSECTION 2.6(A) of this Agreement. In executing this Agreement, each Partner is deemed to have consented to any Transfer contemplated by this Section SECTION 4.3.