Common use of A Non Clause in Contracts

A Non. Voting Unit shall continue to be a Non-Voting Unit for as long as it is owned or controlled by any Sponsor Unitholder, or any other assignee or transferee of such Sponsor Unitholder; provided, however, that any such Non-Voting Unit may convert to a voting Partnership Unit and shall be entitled to the full voting rights otherwise set forth for such Partnership Unit pursuant to this Agreement in the hands of a transferee to the extent that such Non-Voting Unit is transferred to such transferee in any one or more of the following transfers: (i) a widespread public distribution of the voting Partnership Units; (ii) a transfer to the Partnership; (iii) a transfer in which no transferee (or group of associated transferees) would receive 2% or more of any “class of voting shares” (as such term is defined in in 12 C.F.R. § 225.2(q)(3)) of the Partnership; or (iv) to a transferee if such transferee would control more than 50% of every “class of voting shares” (as such term is defined in in 12 C.F.R. § 225.2(q)(3)) of the Partnership without any transfer from the transferring holder.