Limited Partners’ Interest. The Partnership Interest of a Limited Partner.
Limited Partners’ Interest. Each of the Limited Partners, except as provided in this Article V, shall not sell, transfer, encumber or otherwise dispose by operation of law or otherwise of the whole or any part of his or her interest in the Partnership except by written instrument satisfactory in form to the General Partners, accompanied by such assurance of the genuineness and effectiveness of each such signature and the obtaining of any federal and/or state government approval, if any, as may be reasonably required by the General Partners. No less than a minimum of 25 Units (10 for certain fiduciaries) may be transferred. No assignment shall be valid or effective unless in compliance with the conditions herein contained.
Limited Partners’ Interest. Except as specifically provided in this Article XVII, none of the Limited Partners shall sell, transfer, encumber or otherwise dispose of, by operation of law or otherwise, all or any part of his or its interest in the Partnership. No assignment shall be valid or effective unless in compliance with the conditions contained in this Agreement, and any unauthorized transfer or assignment shall be void ab initio.
Limited Partners’ Interest. Each of the Limited Partners, except as provided in this Article V, shall not sell, transfer, encumber, or otherwise dispose by operation of law or otherwise of the whole or any part of its interest in the Partnership except by written instrument satisfactory in form to the General Partner(s), accompanied by such assurance of the genuineness and effectiveness of each such signature and the obtaining or any federal and/or governmental approval, if any, as may be reasonably required by the General Partner(s). A minimum of twenty (20) Units may be transferred, except for XXX or Xxxxx plans, and except for transfers by gift or inheritance, intrafamily transfers, family dissolutions, and transfers to affiliates. No assignment shall be valid or effective unless in compliance with the conditions contained herein.
Limited Partners’ Interest. (a) A Limited Partner may transfer, assign, pledge, hypothecate or otherwise dispose (hereinafter sometimes referred to as a "Transfer") of all or part of his interest in the Partnership to a person or entity (hereinafter sometimes referred to as an "Assignee") only if such Transfer is made in accordance with the provisions of this Article, provided however, that in no event shall any Limited Partner be relieved of his responsibilities hereunder without the prior written consent of the General Partner. Any purported Transfer in violation of the provisions of this Article shall be null and void and the non-transferring Partners, or any of them, in addition to any other remedies available under this Agreement and at law, in equity and otherwise, may seek to enjoin such Transfer and the transferring Partner, or his legal representatives, agrees to submit to the jurisdiction of any court of equity in the State of Pennsylvania and to be bound by any order of such court enjoining such purported Transfer. In the event of any such permitted Transfer, the Assignee shall be entitled to receive the allocations and distributions to which the Limited Partner from whom such interest was acquired (hereinafter sometimes referred to as the "Assignor") would have been entitled and shall be required to make the capital contributions, if any, which the Assignor would have been required to make hereunder. Unless the provisions of Section 7.4 are complied with, an Assignee shall not become or have the rights of "substituted limited partner" as that term is used in the Act, but shall only have the rights of an "assignee" as set forth therein and herein.
