Joint Ownership of Interests. A Partnership Interest may be acquired by two individuals as joint tenants with right of survivorship, provided that such individuals either are married or are related and share the same home as tenants in common. The written consent or vote of both owners of any such jointly held Partnership Interest shall be required to constitute the action of the owners of such Partnership Interest; provided, however, that the written consent of only one joint owner will be required if the Partnership has been provided with evidence satisfactory to the counsel for the Partnership that the actions of a single joint owner can bind both owners under the applicable laws of the state of residence of such joint owners. Upon the death of one owner of a Partnership Interest held in a joint tenancy with a right of survivorship, the Partnership Interest shall become owned solely by the survivor as a Limited Partner and not as an assignee. The Partnership need not recognize the death of one of the owners of a jointly-held Partnership Interest until it shall have received notice of such death. Upon notice to the General Partner from either owner, the General Partner shall cause the Partnership Interest to be divided into two equal Partnership Interests, which shall thereafter be owned separately by each of the former owners.
Joint Ownership of Interests. A Partnership Interest may be acquired by two (2) individuals as joint tenants with right of survivorship (but not as tenants in common), provided that such individuals either are married or are related and share the same home as tenants in common. The written consent or vote of both owners of any such jointly held Partnership Interest shall be required to constitute the action of the owners of such Partnership Interest; provided, however, that the written consent of only one (1) joint owner will be required if the Partnership has been provided with evidence satisfactory to counsel for the Partnership that the actions of a single joint owner can bind both owners under the applicable laws of the state of residence of such joint owners. Upon the death of one (1) owner of a Partnership Interest held in a joint tenancy with a right of survivorship, the Partnership Interest shall become owned solely by the survivor as a Limited Partner and not as an assignee. The Partnership need not recognize the death of one (1) of the owners of a jointly held Partnership Interest until it shall have received notice of such death. Upon notice to the General Partner from either owner that the tenancy satisfying the first sentence of this Section 9.9 has been destroyed, the General Partner shall cause the Partnership Interest to be divided into two (2) equal Partnership Interests, which shall thereafter be owned separately by each of the former owners.
Joint Ownership of Interests. Subject to the other provisions of this Agreement, a Limited Partnership Interest or BUC may be acquired by two or more Persons, who shall, at the time they acquire such Limited Partnership Interest or BUC, indicate to the Partnership whether the Limited Partnership Interest or BUC is being held by them as joint tenants with the right of survivorship, as tenants-in-common or as community property. In the absence of any such designation, joint owners shall be presumed to hold such Limited Partnership Interest or BUC as tenants-in-common. The Consent of such joint Limited Partners or BUC Holders shall not require the action or vote of all owners of any such jointly held Limited Partnership Interest or BUC.
Joint Ownership of Interests. Subject to the other provisions of this Agreement, a Limited Partnership Interest or Unit may be acquired by two or more individuals, who shall, at the time they acquire such Limited Partnership Interest or Unit, indicate to the Partnership whether the Limited Partnership Interest or Unit is being held by them as joint tenants with the right of survivorship, as tenants-in-common or as community property. In the absence of any such designation, they shall be presumed to hold such Limited partnership Interest or Unit as tenants-in-common. Any Consent of the Limited Partners or Units shall require the action or vote of all owners of any such jointly held Limited Partnership Interest or Unit.
Joint Ownership of Interests. 36 BOOKS AND RECORDS; ACCOUNTING; TAX MATTERS . . . . . . . . . . . . . . . . . 36
Joint Ownership of Interests. 42 ARTICLE X BOOKS AND RECORDS; ACCOUNTING; TAX MATTERS......................... 42
Joint Ownership of Interests. A Partnership Interest may be acquired by two individuals as joint tenants with right of survivorship, provided that such individuals either are married or are related and share the same home as tenants in common. The written consent or vote of both owners of any such jointly held Partnership Interest shall be required to constitute the action of the owners of such Partnership Interest; provided, however, that the written consent of
Joint Ownership of Interests. 27 Section 9.10 Transferees ..............................28 Section 9.11
Joint Ownership of Interests. 36 Section 9.10 TRANSFEREES........................................................................37 Section 9.11
Joint Ownership of Interests. Subject to the other provisions of this Agreement, an Interest may be acquired by two or more individuals, who shall, at the time they acquire such Interest, indicate to the Partnership whether the Interest is being held by them as joint tenants with the right of survivorship or as tenants-in-common. In the absence of any such designation, they shall be presumed to hold such Interest as tenants-in-common. Any action or vote with respect to a jointly held Interest shall require the action or vote of all of the owners of such Interest. Upon the death of the owner of an Interest held in joint tenancy with the right of survivorship, the Interest shall become owned solely by the survivor or jointly by the survivors as a Limited Partner and not as an assignee. The Partnership need not recognize the death of one of the owners of a jointly-held Interest until it shall have received Notice of such death. Upon written notice to the General Partner from both owners of a jointly-held Interest and the submission of such documentation as may be required, the General Partner shall cause the Interest to be divided into two or more Interests, which shall thereafter be owned separately by each of the former owners.
