Common use of Nonrecognition of an Unauthorized Transfer Clause in Contracts

Nonrecognition of an Unauthorized Transfer. The Partnership will not be required to recognize the interest of any assignee or transferee who has obtained a purported Partnership Interest as the result of a transfer or assignment that is not authorized by this Agreement. If there is a doubt as to ownership of a Partnership Interest or who is entitled to Distributions of Cash Flow under Section 6.1 or liquidating proceeds, the Management Committee may accumulate Distributions of Cash Flow under Section 6.1 or liquidation proceeds until the issue is resolved to the Management Committee’s satisfaction.