Common use of Additional General Partners Clause in Contracts

Additional General Partners. Notwithstanding anything to the --------------------------- contrary herein contained, the General Partner(s) (acting unanimously if there shall be more than one such General Partner) shall have the right at any time, and from time to time, with the Consent of the Limited Partners, to designate one or more Persons as additional General Partner(s). Notice of any such designation shall be promptly given to all the Limited Partners. Any such Person so designated as an additional General Partner shall, after having received the Consent of the Limited Partners, become such upon his acceptance in writing of such position and, if such Person is not already a Partner of the Partnership, his agreeing to be bound by all of the terms and conditions of this Agreement as the same may theretofore have been amended. Provided the Consent of the Limited Partners to the admittance of an additional General Partner shall have been obtained, the consent of all Limited Partners to such admission shall conclusively be deemed to have been given for all purposes. If any Person designated as an additional General Partner under this Article VI shall have theretofore been a Limited Partner of the Partnership, such Person shall be allocated as a General Partner all or such portion as shall be agreed upon by the General Partner(s) and such Person of the percentage of profits, losses and distributions as were previously allocated to him as a Limited Partner. It any Person so designated as an additional General Partner shall not theretofore have been a Partner of the Partnership, his interest as a General Partner shall be such interest as shall thereupon be voluntarily assigned to him by any General and/or Limited Partners.

Additional General Partners. Notwithstanding anything to --------------------------- the --------------------------- contrary herein contained, the General Partner(s) (acting unanimously if there shall be more than one such General Partner) shall have the right at any time, and from time to time, with the Consent of the Limited Partners, to designate one or more Persons as additional General Partner(s). Notice of any such designation shall be promptly given to all the Limited Partners. Any such Person so designated as an additional General Partner shall, after having received the Consent of the Limited Partners, become such upon his acceptance in writing of such position and, if such Person is not already a Partner of the Partnership, his agreeing to be bound by all of the terms and conditions of this Agreement as the same may theretofore have been amended. Provided the Consent of the Limited Partners to the admittance of an additional General Partner shall have been obtained, the consent of all Limited Partners to such admission shall conclusively be deemed to have been given for all purposes. If any Person designated as an additional General Partner under this Article VI shall have theretofore been a Limited Partner of the Partnership, such Person shall be allocated as a General Partner all or such portion as shall be agreed upon by the General Partner(s) and such Person of the percentage of profits, losses and distributions as were previously allocated to him as a Limited Partner. It If any Person so designated as an additional General Partner shall not theretofore have been a Partner of the Partnership, his interest as a General Partner shall be such interest as shall thereupon be voluntarily assigned to him by any General and/or Limited Partners.