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, the Partnership’s transfer agent, or such Limited Partner’s or BUC Holder’s nominee, as the case may be, 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 Partner Interest or Unit may be acquired by two or more Persons, who shall, at the time they acquire such Limited Partner Interest or Unit, indicate to the Partnership whether the Limited Partner Interest or Unit is being held by them as joint tenants with the right of survivorship, as tenants-in-common, as tenants by the entirety or as community property. In the absence of any such designation, joint owners shall be presumed to hold such Limited Partner Interest or Unit as tenants-in-common. The Consent of such joint Limited Partners or Unit Holders shall not require the action or vote of all owners of any such jointly held Limited Partner Interest or Unit.
Joint Ownership of Interests. 36 BOOKS AND RECORDS; ACCOUNTING; TAX MATTERS . . . . . . . . . . . . . . . . . 36
Joint Ownership of Interests. 38 ARTICLE X BOOKS AND RECORDS; ACCOUNTING; TAX MATTERS.........................38
Joint Ownership of Interests. Any interest or right to acquire any interest in real property (including minerals or water rights) within the Area of Interest either acquired or proposed to be acquired during the Term by or on behalf of either Participant or any Affiliate of such Participant, unless otherwise agreed, shall be deemed owned fifty percent (50%) by each Participant and subject to the terms and provisions of this Agreement. No interest in the Area of Interest may be acquired by a Participant for its own benefit or for the benefit of any of its Affiliates during the Term unless 50% of such interest is acquired by the other Participant or any of its Affiliates. For the avoidance of doubt, each Participant and their respective Affiliates for their separate account shall be free to acquire lands and interests in lands outside the Area of Interest. Failure of any Affiliate of either Participant to comply with this Article 10 shall be a breach by such Participant of this Agreement and any right to a portion of the Area of Interest acquired by a Participant or its Affiliate during the term of this Agreement shall be deemed to be jointly administered and held by the Participants in 50%/50% joint ownership for the term of such acquired interest or right.
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. (a) Common Partnership Units 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 Common Partnership Units shall be required to constitute the action of the owners of such Common Partnership Units; 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.
