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Common use of Ambiguity Clause in Contracts

Ambiguity. In the case of an ambiguity in the application of any of the provisions of this Exhibit J, including any definition contained in subsection (a), the General Partner shall have the power to determine the application of the provisions of this Exhibit J with respect to any situation based on the facts known to it. In the event that a provision of this Exhibit J requires an action by the General Partner and Exhibit J fails to provide specific guidance with respect to such action, the General Partner shall have the power to determine the action to be taken so long as such action is not contrary to the provisions of Exhibit J. Absent a decision to the contrary by the General Partner (which the General Partner may make in its sole and absolute discretion), if a Person would have (but for the remedies set forth in subsection (b)) acquired Constructive Ownership of Partnership Units in violation of subsection (b)(i), such remedies (as applicable) shall apply first to the Partnership Units which, but for such remedies, would have been actually owned by such Person, and second to Partnership Units which, but for such remedies, would have been Constructively Owned (but not actually owned) by such Person, pro rata among the Persons who actually own such Partnership Units based upon the relative number of the Partnership Units held by each such Person.

Appears in 13 contracts

Samples: Limited Partnership Agreement (Amb Property Lp), Agreement of Limited Partnership (Amb Property Corp), Limited Partnership Agreement (Amb Property Lp)

Ambiguity. In the case of an ambiguity in the application of any of the provisions of this Exhibit JE, including any definition contained in subsection (a), the General Partner shall have the power to determine the application of the provisions of this Exhibit J E with respect to any situation based on the facts known to it. In the event that a provision of this Exhibit J E requires an action by the General Partner and Exhibit J E fails to provide specific guidance with respect to such action, the General Partner shall have the power to determine the action to be taken so long as such action is not contrary to the provisions of Exhibit J. E. Absent a decision to the contrary by the General Partner (which the General Partner may make in its sole and absolute discretion), if a Person would have (but for the remedies set forth in subsection (b)) acquired Constructive Ownership of Partnership Units in violation of subsection (b)(i), such remedies (as applicable) shall apply first to the Partnership Units which, but for such remedies, would have been actually owned by such Person, and second to Partnership Units which, but for such remedies, would have been Constructively Owned (but not actually owned) by such Person, pro rata among the Persons who actually own such Partnership Units based upon the relative number of the Partnership Units held by each such Person.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Excel Trust, Inc.), Limited Partnership Agreement (Shearson American REIT, Inc.), Limited Partnership Agreement (Excel Trust, Inc.)

Ambiguity. In the case of an ambiguity in the application of any of the provisions of this Exhibit JI, including any definition contained in subsection (a), the General Partner shall have the power to determine the application of the provisions of this Exhibit J I with respect to any situation based on the facts known to it. In the event that a provision of this Exhibit J I requires an action by the General Partner and Exhibit J I fails to provide specific guidance with respect to such action, the General Partner shall have the power to determine the action to be taken so long as such action is not contrary to the provisions of Exhibit J. I. Absent a decision to the contrary by the General Partner (which the General Partner may make in its sole and absolute discretion), if a Person would have (but for the remedies set forth in subsection (b)) acquired Constructive Ownership of Partnership Units in violation of subsection (b)(i), such remedies (as applicable) shall apply first to the Partnership Units which, but for such remedies, would have been actually owned by such Person, and second to Partnership Units which, but for such remedies, would have been Constructively Owned (but not actually owned) by such Person, pro rata among the Persons who actually own such Partnership Units based upon the relative number of the Partnership Units held by each such Person.

Appears in 4 contracts

Samples: Agreement of Limited Partnership (Amb Property Corp), Limited Partnership Agreement (Amb Property Lp), Limited Partnership Agreement (Amb Property Lp)

Ambiguity. In the case of an ambiguity in the application of any of the provisions of this Exhibit JE, including any definition contained in subsection (a), the General Partner shall have the power to determine the application of the provisions of this Exhibit J E with respect to any situation based on the facts known to it. In the event that a provision of this Exhibit J E requires an action by the General Partner and Exhibit J E fails to provide specific guidance with respect to such action, the General Partner shall have the power to determine the action to be taken so long as such action is not contrary to the provisions of Exhibit J. E. Absent a decision to the contrary by the General Partner (which the General Partner may make in its sole and absolute discretion), if a Person would have (but for the remedies set forth in subsection (b)) acquired Constructive Ownership of Partnership Units in violation of subsection (b)(i), such remedies (as applicable) shall apply first to the Partnership Units which, but for such remedies, would have been actually owned by such Person, and second to Partnership Units which, but for such remedies, would have been Constructively Owned (but not actually owned) by such Person, pro rata among the Persons who actually own such Partnership Units based upon the relative number of the Partnership Units held by each such Person. 1. Purchase and Sale Agreement, Contribution Agreement and Joint Escrow Instructions by and between Xxxxxxx West Acquisition Company, LLC, and Xxxxxx Realty, L.P. dated May 12, 1997.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Kilroy Realty, L.P.), Agreement of Limited Partnership (Kilroy Realty, L.P.)