HomeMy WebLinkAbout1246 shall r::e:en, C~~r conv~nl~:ncN, .~r:c! unlcs~ Lha c~,nt•_•xt ._:--~r.c:s
otherwise, to ::ell, tr:er::;i'~•r, :~::st~;n, I,le~lge, r:ncu:nt;~r,
mort<~at;e nr ~~trarwi:;~ h;;g~~rhtc:~t~~ :,uch Units; rt:lzt~_ci
nouns and pronouns :.1ra11 gave-: irti lar meanings .
B. Ho assignment of a Llmitad Yartner'~ interest, or
any part thereof, though otherwise permitted hereunder,
shall be valid and effective, and the Limited Partnership
shall not i•ecogni~e the same for the purposes of making
payment of profits, income, return of contribution, or
other distribution with respect to such interest or part
thereof, unless and until there b~ filed with the General
Partner an instrument. in writing, in a form approved by
legal counsel to the Limited Partnership, subscribed by
both parts^s to the assignment, each of whose sinat~arss
is to i;e :~ltnessed "v tt~o wltn~•:;sFS, ;~rrj unless and until
`he Lira: ~e~ Partnership ^•t-.all have delivered t.o t:he assignee
- an ackzo:rie3g:~ent in writing of the recordation of the -
ass.~^~~r.~ on the books of tt:~~ Limited Partnership. The _
four approved by the legal counsel may requi:~ that the
;r'^i`.ec ra_•tnership receive the opinion -of its counsel that
any such assignment of a Limited Partnership interest is
in compl:anee with all federal and state securities laws
applicable thereto. A fee may be charged, in the discretion
of the General Partner, by the Limited Partnership which
is sufficient to cover all reasonable expenses connected
with such assignment.
C. An assignee who shall not become a Substituted
Limited Prrtrer in tih<: ~znner a^, horeinlfter provided is
rot z h'.e:t^.b~r ;:ncl tt:ts r:e~ r•lt;ht tci I'e~etUirC :rny inf'arr?.a`:ior. or
account of the Limited Pai•tner:,tzip transactior:s or to Inspect
the Limited Partnership t,ooks, <1nd he aha21 t~,~ charged r::t'r'. ~I
the los::es ,end :.hall ro entitle:: to receive only the sham
oi' reel pros'its, or .the ret.ur:r of h! > contribttt ion to :.high
his assignor would otherwise ~P ~•nt'.tled •~rtth respe~`, ':o ;.^e
Units which shall have t,~o;~ ~:,:,i~;:-:pd.
. ~ ~v
X342 P~i24s