Transfers to Holders of Nonrecourse Liabilities. No transfer or pledge of any Partnership Units may be made to a lender to the Partnership or any Person who is related (within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Partnership whose loan constitutes a Nonrecourse Liability without the consent of the General Partner, in its sole and absolute discretion, provided that as a condition to such consent the lender will be required to enter into an arrangement with the Partnership and the General Partner to exchange or redeem for the Redemption Amount any Partnership Units in which a security interest is held simultaneously with the time at which such lender would be deemed to be a partner in the Partnership for purposes of allocating liabilities to such lender under Section 752 of the Code.
Transfers to Holders of Nonrecourse Liabilities. No transfer or pledge of any Partnership Units may be made to a lender to the Partnership or any Person who is related (within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Partnership whose loan constitutes a "nonrecourse liability" (within the meaning of Section 1.752-1(a)(2) of the Regulations) without the consent of the General Partner, in its sole and absolute discretion, provided that as a condition to any such consent the lender will be required to enter into an arrangement with the Partnership and the General Partner to exchange or redeem for the Redemption Amount any Partnership Units that such lender or related person owns or would acquire upon foreclosure of a security interest simultaneously with the time at which such lender would be deemed to be a partner in the Partnership for purposes of allocating liabilities to such lender under Section 752 of the Code.
Transfers to Holders of Nonrecourse Liabilities. No transfer of any Partnership Units may be made to a lender to the Partnership or any Person who is related (within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Partnership whose loan constitutes a Nonrecourse Liability without the consent of the Original Class Limited Partners holding a majority of the Class A Common Units then held by the Original Class A Limited Partners.
Transfers to Holders of Nonrecourse Liabilities. Regardless of whether the Managing Member is required to provide or has provided its consent under Section 11.2(a) or Section 11.3(a), no transfer of any Units may be made to a lender to the Company or any Person who is related (within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Company whose loan constitutes a Nonrecourse Liability without the consent of the Managing Member, in its sole and absolute discretion or without the consent of a Member who has guaranteed the debt or indemnified Managing Member pursuant to Section 7.13.
Transfers to Holders of Nonrecourse Liabilities. Regardless of whether the General Partner or the Special General Partner is required to provide or has provided its consent under Section 11.3.1, no transfer of any Limited Partner Units may be made to a lender to the Partnership or any Subsidiary Partnership or any Person who is related (within the meaning of Treasury Regulation section 1.752-4(b)) to any lender to the Partnership or any Subsidiary Partnership whose loan constitutes a Nonrecourse Liability without the consent of the General Partner, in its sole and absolute discretion; provided, that as a condition to such consent the lender will he required to enter into an arrangement with the Partnership or any Subsidiary Partnership and the General Partner to exchange or redeem for the Redemption Amount' any Limited Partner Units in which a security interest is held simultaneously with the time at which such lender would he deemed to he a partner in the Partnership for purposes of allocating liabilities to such lender under Code section 752.
Transfers to Holders of Nonrecourse Liabilities. Regardless of whether the Managing Member has provided its consent under Section 11.3(a), with the exception of the Preferred Member, no transfer (other than a transfer pursuant to the laws of inheritance or by will or a transfer to an Affiliate or a member of the Immediate Family of the Nonmanaging Member) of any Company Units may be made to a lender to the Company or any Person who is related (within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Company whose loan constitutes a Nonrecourse Liability without the consent of the Managing Member, in its sole and absolute discretion; provided, that as a condition to such consent the lender will be required to enter into an arrangement with the Company and the Managing Member to exchange or redeem for the Redemption Amount any Company Units in which a security interest is held simultaneously with the time at which such lender would be deemed to be a member in the Company for purposes of allocating liabilities to such lender under Section 752 of the Code.
Transfers to Holders of Nonrecourse Liabilities. No transfer or pledge of any Class A Limited Partnership Units may be made to a lender to the Partnership or any Person who is related (within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Partnership whose loan constitutes a Nonrecourse Liability without the prior written consent of the General Partner, provided that as a condition to such consent the lender will be required to enter into an arrangement with the Partnership and the General Partner to exchange or redeem for the Redemption Amount any Class A Limited Partnership Units in which a security interest is held simultaneously with the time at which such lender would be deemed to be a partner in the Partnership for purposes of allocating liabilities to such lender under Section 752 of the Code.
