Common use of Restriction on Transfer or Encumbrance Clause in Contracts

Restriction on Transfer or Encumbrance. Each of the Partners covenants and agrees that such Partner will not sell, assign, transfer, pledge, mortgage, charge, create a security interest in, hypothecate, enter into any agreement or option to or otherwise dispose of, encumber and deal with such Partner’s Partnership Interest, except in accordance with the terms of this Agreement or with the prior written consent of all of the other Partners.