Common use of Termination of the Partnership Clause in Contracts

Termination of the Partnership. Except for Transfers of Partnership Interests specifically permitted in this Agreement, no Transfers of Partnership Interests shall be made if the effect of the Transfer will be to terminate the Partnership pursuant to Section 708(b) of the Code or any similar successor provision of the Code, or otherwise materially adversely affect the Partnership or any other Partner under the Code.

Appears in 1 contract

Samples: Limited Partnership Agreement (Petro, Inc.)

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Termination of the Partnership. Except for Transfers of ------------------------------ Partnership Interests specifically permitted in this Agreementunder Sections 9.6 and 9.7 or pursuant to an IPO Incorporation pursuant to the provisions of Article XII, no Transfers of Partnership Interests shall be made if the effect of the Transfer will be to terminate the Partnership pursuant to Section 708(b) of the Code or any similar successor provision of the Code, or otherwise materially adversely affect the Partnership or any other Partner under the Code.

Appears in 1 contract

Samples: Petro Holdings Financial Corp

Termination of the Partnership. Except for Transfers of Partnership Interests specifically permitted in this Agreementunder Sections 9.6 and 9.7 or pursuant to an IPO Incorporation pursuant to the provisions of Article XII, no Transfers of Partnership Interests shall be made if the effect of the Transfer will be to terminate the Partnership pursuant to Section 708(b) of the Code or any similar successor provision of the Code, or otherwise materially adversely affect the Partnership or any other Partner under the Code.

Appears in 1 contract

Samples: Limited Partnership Agreement (Petro, Inc.)

Termination of the Partnership. Except for Transfers of ------------------------------ Partnership Interests specifically permitted in this Agreement, no Transfers of Partnership Interests shall be made if the effect of the Transfer will be to terminate the Partnership pursuant to Section 708(b) of the Code or any similar successor provision of the Code, or otherwise materially adversely affect the Partnership or any other Partner under the Code.

Appears in 1 contract

Samples: Limited Partnership Agreement (Petro Stopping Centers L P)

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Termination of the Partnership. Except for Transfers of Partnership ------------------------------ Interests specifically permitted in this AgreementAgreement or an IPO Incorporation, no Transfers of Partnership Interests shall be made if the effect of the Transfer will be to terminate the Partnership pursuant to Section 708(b) of the Code or any similar successor provision of the Code, or otherwise materially adversely affect the Partnership or any other Partner under the Code.

Appears in 1 contract

Samples: Limited Partnership Agreement (Petro Stopping Centers L P)

Termination of the Partnership. Except for Transfers of ------------------------------ Partnership Interests specifically permitted in this Agreementunder Sections 9.6 and 9.7 or pursuant to an IPO Incorporation pursuant to the provisions of Article XII, no Transfers of Partnership Interests shall be made if the effect of the Transfer will be to terminate the Partnership pursuant to Section 708(b) of the Code or any similar 44 successor provision of the Code, or otherwise materially adversely affect the Partnership or any other Partner under the Code.

Appears in 1 contract

Samples: Petro Stopping Centers L P

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