Common use of Presumed Consent Clause in Contracts

Presumed Consent. Where an Assignee is entitled to become a Limited Partner pursuant to the provisions hereof, all of the Partners shall be deemed to have consented to the Assignee’s admission into the Partnership, as a Limited Partner, without need for any further formality on their part.

Presumed Consent. Where an Assignee is entitled to become a Limited Partner or General Partner, as applicable, pursuant to the provisions hereof, all of the Partners shall be deemed to have consented to the Assignee’s admission into the Partnership, as a Limited Partner or General Partner, as applicable, without need for any further formality on their part.