Common use of Assignee's Rights to Allocations and Distributions Clause in Contracts

Assignee's Rights to Allocations and Distributions. An Assignee shall be entitled to receive allocations of Partnership tax items and Distributions from the Partnership attributable to the Partnership interest acquired by reason of any permitted assignment from and after the first day of the calendar month following the month which ends with the effective date of the transfer of such interest as provided in Section 12.2. The Partnership and the General Partner shall be entitled to treat the assignor of such Partnership interest as the absolute owner thereof in all respects, and shall incur no liability for allocations of Partnership items and Distributions made in good faith to such assignor, until such time as the written instrument of assignment has been received by the Partnership.

Assignee's Rights to Allocations and Distributions. An Assignee shall be entitled to receive allocations of Partnership tax items and Distributions from the Partnership attributable to the Partnership interest Interest acquired by reason of any permitted assignment from and after the first day of the calendar month following the month which ends with the effective date of the transfer of such interest Interest as provided in Section 12.2. The Partnership and the General Partner shall be entitled to treat the assignor of such Partnership interest Interest as the absolute owner thereof in all respects, and shall incur no liability for allocations of Partnership items and Distributions made in good faith to such assignor, until such time as the written instrument of assignment has been received by the Partnership.