Common use of Valid Tender Clause in Contracts

Valid Tender. In order for a tendering Limited Partner to participate in the Offer, its Units must be validly tendered and not withdrawn on or prior to the Expiration Date. To validly tender Units, a properly completed and duly executed Assignment of Partnership Interest and any other documents required by the Assignment of Partnership Interest must be received by the Depositary, at its address set forth on the back cover of this Offer to Purchase, on or prior to the Expiration Date. A Limited Partner may tender any or all of the Units owned by that Limited Partner; provided, however, that because of restrictions in the Limited Partnership Agreement, in order for a partial tender to be valid, after a sale of Units pursuant to the Offer, the tendering Limited Partner must continue to hold a minimum of ten Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, at least four Units (except Limited Partners who reside in New Mexico, who must continue to hold at least five Units). Accordingly, any Limited Partner that owns ten or fewer Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, four Units, or five Units in New Mexico) must tender all or none of its Units. Tenders of fractional Units will not be permitted, except by a Limited Partner who is tendering all of the Units owned by that Limited Partner. No alternative, conditional or contingent tenders will be accepted.

Appears in 2 contracts

Samples: Cooper River Properties LLC, Cooper River Properties LLC

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Valid Tender. In order for a tendering Limited Partner to participate in the Offer, its Units must be validly tendered and not withdrawn on or prior to the Expiration Date. To validly tender Units, a properly completed and duly executed Assignment of Partnership Interest and any other documents required by the Assignment of Partnership Interest must be received by the Depositary, at its address set forth on the back cover of this Offer to Purchase, on or prior to the Expiration Date. A Limited Partner may tender any or all of the Units owned by that Limited Partner; provided, however, that because of restrictions in the Limited Partnership Agreement, in order for a partial tender to be valid, after a sale of Units pursuant to the Offer, the tendering Limited Partner must continue to hold a minimum of ten Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, at least four Units (except Limited Partners who reside in New MexicoMexico and Virginia, who must continue to hold at least five Units). Accordingly, any Limited Partner that owns ten or fewer Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, four Units, or five Units in New MexicoMexico and Virginia) must tender all or none of its Units. Tenders of fractional Units will not be permitted, except by a Limited Partner who is tendering all of the Units owned by that Limited Partner. No alternative, conditional or contingent tenders will be accepted.

Appears in 2 contracts

Samples: Broad River Properties L L C, Cooper River Properties LLC

Valid Tender. In order for a tendering Limited Partner to participate in the Offer, its Units must be validly tendered and not withdrawn on or prior to the Expiration Date. To validly tender Units, a properly completed and duly executed Assignment of Partnership Interest and any other documents required by the Assignment of Partnership Interest must be received by the Depositary, at its address set forth on the back cover of this Offer to Purchase, on or prior to the Expiration Date. A Limited Partner may tender any or all of the Units owned by that Limited Partner; provided, however, that because of restrictions in the Limited Partnership Agreement, in order for a partial tender to be valid, after a sale of Units pursuant to the Offer, the tendering Limited Partner must continue to hold a minimum of ten three Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, at least four two Units (except Limited Partners who reside in New Mexico, who must continue to hold at least five three Units). Accordingly, any Limited Partner that owns ten three or fewer Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, four two Units, or five three Units in New Mexico) must tender all or none of its Units. Tenders of fractional Units will not be permitted, except by a Limited Partner who is tendering all of the Units owned by that Limited Partner. No alternative, conditional or contingent tenders will be accepted.

Appears in 1 contract

Samples: Cooper River Properties LLC

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Valid Tender. In order for a tendering Limited Partner to participate in the Offer, its Units must be validly tendered and not withdrawn on or prior to the Expiration Date. To validly tender Units, a properly completed and duly executed Assignment of Partnership Interest and any other documents required by the Assignment of Partnership Interest must be received by the Depositary, at its address set forth on the back cover of this Offer to Purchase, on or prior to the Expiration Date. A Limited Partner may tender any or all of the Units owned by that Limited Partner; provided, however, that because of restrictions in the Limited Partnership Agreement, in order for a partial tender to be valid, after a sale of Units pursuant to the Offer, the tendering Limited Partner must continue to hold a minimum of ten three Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, at least four two Units (except Limited Partners who reside in New Mexico, who must continue to hold at least five which requires three Units)). Accordingly, any Limited Partner that owns ten three or fewer Units (or, in the case of Limited Partners who hold Units in an IRA or Xxxxx Plan, four two Units, or five three Units in New Mexico) must tender all or none of its Units. Tenders of fractional Units will not be permitted, except by a Limited Partner who is tendering all of the Units owned by that Limited Partner. No alternative, conditional or contingent tenders will be accepted.

Appears in 1 contract

Samples: Cooper River Properties LLC

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