Common use of Exchange Restrictions Clause in Contracts

Exchange Restrictions. Notwithstanding anything to the contrary contained herein, a ▇▇▇▇▇▇ Family Partner shall not be entitled to exchange Partnership Units, and the Issuer and Holdings shall have the right to refuse to honor any request for exchange of Partnership Units, (i) if such exchange would be prohibited under applicable law or regulation or (ii) if such exchange would cause Holdings to be classified as a “publicly traded partnership” as such term is defined in Section 7704 of the Code and the regulations promulgated thereunder.