Common use of Transfers of Interest Clause in Contracts

Transfers of Interest. No Partner shall have the right or power to assign, transfer or otherwise dispose of its interest in the Partnership without the prior written approval of all other Partners. For this purpose, a transfer of the ownership interest in either Partner or the admission of a new owner by the Partners shall be deemed a transfer of a Partnership interest.

Transfers of Interest. No Partner shall have the right or power to assign, transfer or otherwise dispose of its interest in the Partnership without the prior written approval of all other Partners. For this purpose, a transfer of the ownership interest in either Partner or the admission of a new owner partner by the Partners shall be deemed a transfer of a Partnership interest.