Common use of Transfer of Partnership Interests Clause in Contracts

Transfer of Partnership Interests. The foregoing power of attorney shall survive the delivery of an instrument of transfer by any Partner of the whole or any portion of or interest in his, her or its Partnership Interest, except that where a transferee of such Partnership Interest has been approved as a successor Partner and the transferee shall thereupon cease being a Partner (all in accordance with this Agreement), then the power of attorney of the transferor Partner shall survive the delivery of such instrument of transfer for the sole purpose of enabling the attorneys-in-fact for such transferor Partner (or any of them) to execute, swear to, acknowledge and file any and all instruments necessary to effectuate such transfer and succession.

Transfer of Partnership Interests. The foregoing power of attorney shall survive the delivery of an instrument of transfer Transfer by any Partner of the whole or any portion of or interest in his, her or its Partnership his Interest, except that where a transferee of such Partnership Interest has been approved as a successor Partner and the transferee shall thereupon cease being a Partner (all in accordance with this Agreement), then the power of attorney of the transferor Partner shall survive the delivery of such instrument of transfer Transfer for the sole purpose of enabling the attorneys-in-fact for such transferor Partner (or any of them) to execute, swear to, acknowledge and file any and all instruments necessary to effectuate such transfer Transfer and succession.