Transfer of Partnership Interest. A Partner may assign their distribution interest in the Partnership and its assets. This transfer will only include that Partners economic rights and interests and will not include any other rights of that Partner nor will it include an automatic admission as a Partner of the Partnership or the right to exercise any management or voting interests. A Partner who assigns any or all of their partnership interest to any third party will relinquish their status as Partner including all management and voting rights. Assignment of Partner status, under this clause, including any management and voting interests will require the consent of all the remaining Partners.
Appears in 12 contracts
Samples: Wisconsin Partnership Agreement, Washington Partnership Agreement, Jersey Partnership Agreement
