Common use of Allocations for Non-Consenting Preexisting Partners Clause in Contracts

Allocations for Non-Consenting Preexisting Partners. The General Partner shall continue to, and shall have the authority to, apply the provisions of Articles V and VI of the Third Amended Agreement to those Preexisting Partners which have not given their consent to the adoption of this Fourth Amended Agreement so that they receive the distributions and allocations of Net Profits and Net Losses (including income, gain, loss and deductions) which such Limited Partners would have received had this Fourth Amended Agreement not been approved. Furthermore, should any non- consenting Preexisting Partner consent to the adoption of this Fourth Amended Agreement after the effective date of this Fourth Amended Agreement, then, notwithstanding anything herein to the contrary, the General Partner shall make such adjustments to the application of Articles V and VI of this Agreement beginning on the first day of January after the date of such Limited Partner's consent so that after these adjustments, such consenting Limited Partner will be treated in a manner which is substantially equivalent to the treatment which such Limited Partner would have received had such Limited Partner consented to the adoption of this Fourth Amended Agreement as of the effective date of this Fourth Amended Agreement.