Common use of Restrictions on Transfer of Limited Partnership Interests Clause in Contracts

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in Section 9.02(d) hereof, no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer his Limited Partnership Interest, in whole or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) without the written consent of the General Partner, which consent may be withheld in the sole discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 3 contracts

Samples: Agreement (Supertel Hospitality Inc), Agreement (Supertel Hospitality Inc), Condor Hospitality Trust, Inc.

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Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in Section 9.02(dSubject to the provisions of 9.02(b), (c) hereofand (d), no a Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of his Limited Partnership Interest, in whole or in partany of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) with or without the written consent of the General Partner, which consent may be withheld in the sole discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 3 contracts

Samples: INREIT Real Estate Investment Trust, INREIT Real Estate Investment Trust, INREIT Real Estate Investment Trust

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in Subject to the provisions of Section 9.02(d9.1, Sections 9.2(b), (c), (d) hereofand (e) and Section 9.7 and any other restrictions expressly set forth herein, no a Limited Partner may offer, sell, assign, hypothecate, pledge Transfer all or otherwise transfer his any portion of its Limited Partnership Interest, in whole or in partany of such Limited Partner's economic rights as a Limited Partner, whether voluntarily with or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) without the written consent of the General Partner, which consent may be withheld in the sole discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs reasonably incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Agreement (Timberland Growth Corp)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in Section 9.02(dSubject to the provisions of 9.2(b), (c) hereofand (d), no a Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of his or her Limited Partnership Interest, in whole or in partany of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) with or without the written consent of the General Partner, which consent may be withheld in the sole discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Limited Partnership Agreement (Dakota Real Estate Investment Trust)

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Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in Section 9.02(dSubject to the provisions of 9.2(b) hereofand (c), no Limited Partner may offer, sell, assign, hypothecate, pledge or otherwise transfer all or any portion of his Limited Partnership Interest, in whole or in partany of such Limited Partner’s economic rights as a Limited Partner, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) without the written consent of the General Partner, which consent may be granted or withheld in the its sole discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewithand absolute discretion.

Appears in 1 contract

Samples: Limited Partnership Agreement (Passco Apartment REIT, Inc.)

Restrictions on Transfer of Limited Partnership Interests. (a) Except as otherwise provided in Section 9.02(d) hereofOther than Transfers to LTC made pursuant to the Exchange Rights Agreement, to which Transfers the General Partner hereby consents, no Limited Partner may offershall have the right, selldirectly or indirectly, assign, hypothecate, pledge to Transfer all or otherwise transfer his any part of such Limited Partner's Partnership Interest, in whole Interest or in part, whether voluntarily or by operation of law or at judicial sale or otherwise (collectively, a “Transfer”) Units to any Person without the prior written consent of the General Partner, which consent may be withheld in the sole discretion of the General Partner. The General Partner may require, as a condition of any Transfer, that the transferor assume all costs incurred by the Partnership in connection therewith.

Appears in 1 contract

Samples: Exchange Rights Agreement (LTC Properties Inc)

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