Common use of Transfers by General Partners Clause in Contracts

Transfers by General Partners. A General Partner may sell, exchange, encumber, pledge, gift, distribute, assign or transfer all or any part of its Partnership Interest without the consent of any other Partners. Notwithstanding the preceding sentence, if a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee other than a Permitted Transferee, such transferee shall be an confidential confidential Assignee and may become a Substitute Limited Partner only with the consent of all Partners. If a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee who is a Permitted Transferee, such Permitted Transferee may become a General Partner with the consent of a Majority in Interest of all Partners.

Transfers by General Partners. A General Partner may sell, exchange, encumber, pledge, gift, distribute, assign or transfer all or any part of its Partnership Interest without the consent of any other Partners. Notwithstanding the preceding sentence, if a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee other than a Permitted Transferee, such transferee shall be an confidential confidential Assignee and may become a Substitute Limited Partner only with the consent of all Partners. If a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee who is a Permitted Transferee, such Permitted Transferee may become a General Partner with the consent of a Majority in Interest of all Partners.

Transfers by General Partners. A General Partner may sell, exchange, encumber, pledge, gift, distribute, assign or transfer all or any part of its Partnership Interest without the consent of any other Partners. Notwithstanding the preceding sentence, if a General Partner sells, exchangesexchange, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee other than a Permitted Transferee, such transferee shall be an confidential confidential Assignee and may become a Substitute Limited Partner only with the consent of all Partners. If a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee who is a Permitted Transferee, such Permitted Transferee may become a General Partner with the consent of a Majority in Interest of all Partners.

Transfers by General Partners. A General Partner may sell, exchange, ----------------------------- encumber, pledge, gift, distribute, assign or transfer all or any part of its Partnership Interest without the consent of any other Partners. Notwithstanding the preceding sentence, if a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee other than a Permitted Transferee, such transferee shall be an confidential confidential Assignee and may become a Substitute Limited Partner only with the consent of all Partners. If a General Partner sells, exchanges, encumbers, pledges, gifts, distributes, assigns or transfers all or any part of its Partnership Interest to a transferee who is a Permitted Transferee, such Permitted Transferee may become a General Partner with the consent of a Majority in Interest of all Partners.