Common use of Certificates of Ownership Clause in Contracts

Certificates of Ownership. Each Partner’s Partnership Units may, in the sole and absolute discretion of the General Partner, either be evidenced by one or more registered certificates of ownership or be uncertificated; provided that certificates of ownership previously issued with respect to a Partner’s Partnership Units will continue to evidence such Partnership Units unless and until such certificates are submitted to the Partnership upon transfer, conversion or otherwise. Any such certificates shall contain a legend evidencing the restrictions on transfer of the Partnership Units, which legend shall be substantially similar to the legend contained on the cover page of this Agreement.