LLCs/LPs: Consent to LP Pledge | Practical Law

LLCs/LPs: Consent to LP Pledge | Practical Law

This form of consent can be used by a general partner on behalf of itself and the limited partnership (LP) that it manages. If collateral securing a loan includes LP interests, the secured party typically requires delivery of any consents required for an enforceable security interest in the LP interests under law or the governing documents of the partnership. This Standard Document has integrated drafting notes with important explanations and drafting tips.

LLCs/LPs: Consent to LP Pledge

Practical Law Standard Document 6-593-8566 (Approx. 12 pages)

LLCs/LPs: Consent to LP Pledge

by Practical Law Finance
MaintainedUSA (National/Federal)
This form of consent can be used by a general partner on behalf of itself and the limited partnership (LP) that it manages. If collateral securing a loan includes LP interests, the secured party typically requires delivery of any consents required for an enforceable security interest in the LP interests under law or the governing documents of the partnership. This Standard Document has integrated drafting notes with important explanations and drafting tips.