Common use of Non-Recognition of Trusts or Beneficial Interests Clause in Contracts

Non-Recognition of Trusts or Beneficial Interests. Except as provided herein, as required by law or as recognized by the General Partner in its sole discretion, no person will be recognized by the Partnership as holding any Unit or other interest in the Partnership in trust, or on behalf of another person with the beneficial interest therein, and the Partnership and Limited Partners will not be bound or compelled in any way to recognize (even when having actual notice) any equitable, contingent, future or partial interest in any Unit or other interest in the Partnership or in any fractional part of a Unit or other interest in the Partnership or any other rights in respect of any Unit or other interest in the Partnership except an absolute right to the entirety of the Unit or other interest in the Partnership in the Limited Partner shown on the Register as holder of such Unit or other interest in the Partnership.

Non-Recognition of Trusts or Beneficial Interests. Except as provided herein, as required by law or as recognized by the General Partner in its sole discretion, no person Person will be recognized by the Partnership or a Partner as holding any Unit or other interest in the Partnership Special Interest Right in trust, or on behalf of another person with Person who owns the beneficial interest therein, and the Partnership and Limited Partners will not be bound or compelled in any way to recognize (even when having actual notice) any equitable, contingent, future or partial interest in any Unit or other interest in the Partnership Special Interest Right or in any fractional part of a Unit or other interest in the Partnership Special Interest Right or any other rights in respect of any Unit or other interest in the Partnership Special Interest Right except an absolute right to the entirety of the Unit or other interest Special Interest Right or part thereof in the Partnership in the Limited Partner shown on the Register Certificate as holder of such Unit or other interest in the PartnershipSpecial Interest Right or part thereof.