Common use of Rights of Unit Holders Clause in Contracts

Rights of Unit Holders. A. In accordance with the transfer and assignment described in Section ▇.▇▇, it is the intention of the parties hereto that, except to the extent set forth in Section 3.6B, Unit Holders shall have the same rights and obligations that Limited Partners have under this Agreement and under the Act. The fiduciary duties and obligations of the General Partner to Limited Partners under the Act and this Agreement shall extend to the Unit Holders. B. Without limiting the generality of Section 7.2A, persons who become Limited Partners pursuant to Section 7.3 below and other Unit Holders shall share pari passu on the basis of one Limited Partner interest for one Unit, and shall be considered a single class, with respect to all rights to receive distributions and allocations pursuant to this Agreement. C. Subject to Section 12.2, Unit Holders shall vote on all matters in respect of which they are entitled to vote (either in person, by proxy, or by written consent), as a single class, with each Unit entitled to one vote; provided, however, that the Depositary shall vote on behalf of and only as directed by the Unit Holders who are not Substituted Limited Partners.

Rights of Unit Holders. A. In accordance with the transfer and assignment described in Section ▇.▇▇7.lB, it is the intention ▇▇▇ention of the parties hereto that, except to the extent set forth in Section 3.6B3.6, Unit Holders shall have the same rights and obligations that Limited Partners have under this Agreement and under the Act. The fiduciary duties and obligations of the General Partner to Limited Partners under the Act and this Agreement shall extend to the Unit Holders. B. Without limiting the generality of Section 7.2A, persons who become Limited Partners pursuant to Section 7.3 below and other Unit Holders shall share pari passu on the basis of one Limited Partner interest for one Unit, Unit and shall be considered a single class, class with respect to all rights to receive distributions and allocations pursuant to this Agreement. C. Subject to Section 12.212.3, Unit Holders shall vote on all matters in respect of which they are entitled to vote (either in person, by proxy, or by written consent), as a single class, with each Unit entitled to one vote; provided, however, that the Depositary shall vote on behalf of and only as directed by the Unit Holders who are not Substituted Limited Partners.