No Right to Partition Clause Samples
The "No Right to Partition" clause prohibits co-owners of a property or asset from seeking to divide or physically separate their shared interest through legal partition. In practice, this means that none of the parties involved can force a sale or division of the property, even if disagreements arise or one party wishes to exit the arrangement. This clause is commonly used in joint ownership agreements, such as those for real estate or business interests, to maintain the integrity of the shared asset and prevent unilateral actions that could disrupt the collective ownership. Its core function is to ensure stability and continuity in joint ownership by eliminating the risk of forced division or sale.
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No Right to Partition. No Member shall have the right to bring an action for partition against the Company. Each of the Members hereby irrevocably waives any and all rights which it may have to maintain an action to partition Company property or to compel any sale or transfer thereof.
No Right to Partition. The Members, on behalf of themselves and their shareholders, partners, members, successors and assigns, if any, hereby specifically renounce, waive and forfeit all rights, whether arising under contract or statute or by operation of law, except as otherwise expressly provided in this Agreement, to seek, bring or maintain any action in any court of law or equity for partition of the Company or any asset of the Company, or any interest which is considered to be Company property, regardless of the manner in which title to such property may be held.
No Right to Partition. Except as otherwise expressly provided in this Agreement, the Partners, on behalf of themselves and their shareholders, partners, successors and assigns, if any, hereby specifically renounce, waive and forfeit all rights, whether arising under contract or statute or by operation of law, to seek, bring or maintain any action in any court of law or equity for partition of the Partnership or any asset of the Partnership, or any interest which is considered to be Partnership property, regardless of the manner in which title to any such property may be held.
No Right to Partition. Each Partner hereby irrevocably waives any and all rights that it may have to maintain or institute an action for partition of the Partnership assets.
No Right to Partition. To the fullest extent permitted by law, neither the Members nor the Manager shall have the right to bring an action for partition or any sale for division against the Company or any of its properties. Except as otherwise expressly provided in this Agreement, to the fullest extent permitted by law, each of the Members hereby irrevocably waives any right or power that such Person might have to cause the Company or any of its assets to be partitioned, to cause the appointment of a receiver for all or any portion of the assets of the Company, to compel any sale of all or any portion of the assets of the Company pursuant to any applicable law or to file a complaint or to institute any proceeding at law or in equity to cause the dissolution, liquidation, winding up or termination of the Company. To the fullest extent permitted by law, each of the Members hereby irrevocably waives any right or power that such Person might have to reject this Agreement in any bankruptcy or insolvency proceedings relating to such Person. The Members shall not have any interest in any specific assets of the Company, and the Members shall not have the status of a creditor with respect to any distribution pursuant to Agreement. The interest of the Members in the Company is personal property.
No Right to Partition. To the extent permitted by law, and except as otherwise expressly provided in this Agreement, the Partners, on behalf of themselves and their shareholders, members, partners, heirs, executors, administrators, personal or legal representatives, successors and assigns, if any, hereby specifically renounce, waive and forfeit all rights, whether arising under contract or statute or by operation of law, to seek, bring or maintain any action in any court for partition of the Partnership or any asset of the Partnership, or the Partnership or any asset of the Partnership, or any interest which is considered to be Partnership property, regardless of the manner in which title to any such property may be held.
No Right to Partition. To the extent permitted by law, and except as otherwise expressly provided in this Agreement, the Members, on behalf of themselves and their shareholders, partners, heirs, executors, administrators, personal or legal representatives, successors and assigns, if any, hereby specifically renounce, waive and forfeit all rights, whether arising under contract or statute or by operation of law, to seek, bring or maintain any action in any court of law or equity for partition of the Company or any asset of the Company, or any interest that is considered to be Company property, regardless of the manner in which title to any such property may be held.
No Right to Partition. The Members agree that the property owned by the Company is not and will not be suitable for partition between them and that it should be dealt with as a single, integral unit. In consideration of the foregoing and the dissolution provisions of the Act, each Member hereby irrevocably waives, releases, and surrenders any and all rights that it might have to maintain any action to partition any of the property or other Company assets in kind or to maintain a legal action for partition of the same by sale, judicial or otherwise.
No Right to Partition. This Agreement for Sale of the Schedule B Property is only to enable the Allottee/s to get constructed the Apartment and as such the Allottee/s shall not seek partition or division or separate possession in respect of any portion of the Schedule B Property under any circumstances; It is made clear by the Promoter and the Allottee/s agree/s that the apartment and the corresponding UDS along with the allotted Parking space shall be treated as a single indivisible unit for all purposes.
No Right to Partition. Each Initial Shareholder waives his or her right to maintain any action for partition with respect to any of the property of the Company. No Initial Shareholder may call upon a court to divide or distribute the Property of the Company.