Transfers of Limited Partnership Interests. 9.1 Restrictions on Transfer of Limited Partnership Interests.
Transfers of Limited Partnership Interests. With the consent of the General Partner, which consent may, in the sole discretion of the General Partner, be granted or withheld, Class A and Class B Limited Partnership Interests may: (a) be pledged to, or encumbered in favor of, Permitted Transferees to secure borrowings by a Partner; or (b) sold, assigned, conveyed or otherwise transferred in accordance with the provisions of Sections 10.4, 10.6, and 10.7 to any Permitted Transferee, in the case of Class A Limited Partnership Interests, in units equal to or larger than the Percentage Interest purchased by a Capital Contribution of $250,000 at the time of the formation of the Partnership, and, in the case of Class B Limited Partnership Interests, in units of any denomination. Notwithstanding the foregoing, the consent of the General Partner shall not be required for the pledge or collateral assignment by the Class B Limited Partner to Citibank, N.A. of the Class B Limited Partner’s interest in the Partnership.
Transfers of Limited Partnership Interests. 16 9.1 Transfer of Limited Partners' Interest.................17 9.2 Death, Bankruptcy, or Incompetency of a Limited Partner...................................................17 9.3 Substitute Limited Partner................................17 9.4
Transfers of Limited Partnership Interests. Without first obtaining the written consent of the General Partner (which consent may be given or withheld in the sole and absolute discretion of the General Partner), (i) no Limited Partner may voluntarily or involuntarily Transfer, or create or suffer to exist any Encumbrance against, all or any part of its record or beneficial interest in the Partnership, and (ii) no Person may be admitted to the Partnership as a Limited Partner.
Transfers of Limited Partnership Interests
