Common use of Effective Date of Permitted Transfers Clause in Contracts

Effective Date of Permitted Transfers. Any permitted transfer of all or any portion of a Partnership Interest shall be effective upon the date of the transfer instrument. The Managers shall provide the Partners with written notice of such transfer as promptly as possible. Any transferee of a Partnership Interest shall take the Partnership Interest subject to the restrictions on transfer imposed by this Agreement.

Effective Date of Permitted Transfers. Any permitted transfer Transfer of all or any portion of a Partnership Interest shall be effective upon as of the date upon which each and all of the transfer instrument. The Managers shall provide the Partners with written notice requirements of such transfer as promptly as possibleSection 7.1 have been met. Any transferee Transferee of a Partnership Interest shall take the such Partnership Interest subject to the restrictions on transfer Transfer imposed by this Agreement.