Common use of Assignability of Interest Clause in Contracts

Assignability of Interest. Except as provided in Section ------------------------- 1.09 below or with the consent of the General Partner which consent may be withheld by the General Partner in its sole discretion, a Partner may not assign his interest in the Partnership or pledge, mortgage or hypothecate his interest in the Partnership, in whole or in part, to any person, firm, corporation or other entity except by last will and testament or, if required, by operation of law, and any such attempted assignment shall be void. Any such permitted assignee shall not become a substituted partner unless the General Partner so consents thereto and the assignee executes all documents required by the General Partner in connection therewith.