Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except: (i) with the Consent of the Outside Limited Partners; or (ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner; (b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a Limited Partner Interest.
Appears in 8 contracts
Samples: Agreement of Limited Partnership (Paladin Realty Income Properties Inc), Limited Partnership Agreement (Paladin Realty Income Properties Inc), Limited Partnership Agreement (Paladin Realty Income Properties Inc)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;.
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s 's General Partner Interest shall immediately be converted into a Limited Partner Interest.
Appears in 5 contracts
Samples: Limited Partnership Agreement (NNN Healthcare/Office REIT, Inc.), Limited Partnership Agreement (NNN Healthcare/Office REIT, Inc.), Limited Partnership Agreement (NNN Healthcare/Office REIT, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-wholly owned, directly or indirectly, by the General Partner;; or
(iii) if such Transfer occurs in connection with a Merger.
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a Limited Partner Interest.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Griffin-American Healthcare REIT IV, Inc.), Agreement of Limited Partnership (Griffin-American Healthcare REIT IV, Inc.), Agreement of Limited Partnership (Griffin-American Healthcare REIT 4, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s 's General Partner Interest shall immediately be converted into a Limited Partner Interest.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Shopoff Properties Trust, Inc.), Limited Partnership Agreement (Shopoff Properties Trust, Inc.), Limited Partnership Agreement (Shopoff Properties Trust, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;.
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a Limited Partner Interest.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Healthcare Trust of America, Inc.), Limited Partnership Agreement (Healthcare Trust of America, Inc.), Limited Partnership Agreement (Grubb & Ellis Healthcare REIT II, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent or Transfer any of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a its Limited Partner Interest., except
Appears in 2 contracts
Samples: Limited Partnership Agreement (American Realty Capital New York City REIT II, Inc.), Limited Partnership Agreement (American Realty Capital Global Trust II, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The Subject to Section 4.5(b) below, the General Partner may not Transfer transfer all or any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;without Unitholder approval.
(b) In Notwithstanding anything herein to the event contrary, no transfer by the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s all or any part of its General Partner Interest to another Person shall immediately be converted into a Limited permitted unless the transferee agrees to assume the rights and duties of the General Partner Interestunder this Agreement and to be bound by the provisions of this Agreement.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Opr, LLC), Agreement of Limited Partnership (NGL Crude Terminals, LLC)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-wholly owned, directly or indirectly, by the General Partner;.
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a Limited Partner Interest.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Griffin-American Healthcare REIT IV, Inc.), Limited Partnership Agreement (Griffin-American Healthcare REIT III, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent or Transfer any of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a its Limited Partner Interest., except
Appears in 1 contract
Samples: Securities Purchase Agreement (American Realty Capital Hospitality Trust, Inc.)
Transfer of the General Partner’s General Partner Interest. (a) The General Partner may not Transfer any of its General Partner Interest or withdraw as General Partner, except:
(i) with the Consent or Transfer any of the Outside Limited Partners; or
(ii) if such Transfer is to an entity which is wholly-owned, directly or indirectly, by the General Partner;
(b) In the event the General Partner withdraws as general partner of the Partnership in accordance with Section 11.2(a), the General Partner’s General Partner Interest shall immediately be converted into a its Limited Partner Interest., except:
Appears in 1 contract
Samples: Limited Partnership Agreement (Preferred Apartment Communities Inc)
