Common use of Limit on Number of Partners Clause in Contracts

Limit on Number of Partners. No Person shall be admitted to the Partnership as a Substituted Limited Partner or an Additional Limited Partner if the effect of such admission would be to cause the Partnership to have more than one hundred (100) Partners including as Partners for such purpose those Persons indirectly owning an interest in the Partnership through another partnership, a limited liability company, a subchapter S corporation or a grantor trust, if substantially all the value of such Person's interest in any such entity is attributable to such entity's interest (direct or indirect) in the Partnership, or otherwise cause the Partnership to become a reporting company under the Exchange Act.