Common use of Capital Contribution of General Partner and Sale of Property to Partnership Clause in Contracts

Capital Contribution of General Partner and Sale of Property to Partnership. (a) The General Partner shall contribute $50,000.00 to the Partnership upon execution of this Agreement. (b) The General Partner hereby confirms its assignment of Interest to the Partnership, as an additional capital contribution, of all of its rights to and obligations of the Property. The Partnership hereby confirms its consent to and acceptance of such assignment of interest and agrees to reimburse the General Partner for all expenses in connection with or incidental to the purchase, development and sale of the Property and the other Partnership purposes as set forth in Article III of this Agreement, whether said expenses are incurred or paid before or after the date of this Agreement, provided, however, that all such expense must be incurred by the General Partner directly and solely for such Partnership purposes. Accordingly, the general office and executive salaries and similar expenses of the General Partner shall not be paid or reimbursed by the Partnership.

Capital Contribution of General Partner and Sale of Property to Partnership. (a) The General Partner shall contribute $50,000.00 to the Partnership upon execution of this Agreement. (b) The General Partner hereby confirms its assignment of Interest interest in the Contract to the Partnership, as an additional capital contribution, of all of its rights to and obligations of the Property. The Partnership hereby confirms its consent to and acceptance of such assignment of interest and agrees to reimburse the General Partner for all expenses in connection with or incidental to the purchase, development and sale of the Property and the other Partnership purposes as set forth in Article III of this Agreement, whether said expenses are incurred or paid before or after the date of this Agreement, provided, however, that all such expense must be incurred by the General Partner directly and solely for such Partnership purposes. Accordingly, the general office and executive salaries and similar expenses of the General Partner shall not be paid or reimbursed by the Partnership.

Capital Contribution of General Partner and Sale of Property to Partnership. (a) The General Partner shall contribute $50,000.00 to the Partnership upon execution of this Agreement. (b) The General Partner hereby confirms its assignment of Interest interest to the Partnership, as an additional capital contribution, of all of its rights to and obligations of the Property. The Partnership hereby confirms its consent to and acceptance of such assignment of interest Interest and agrees to reimburse the General Partner for all expenses in connection with or incidental to the purchase, development and sale of the Property and the other Partnership purposes as set forth in Article III of this Agreement, whether said expenses are incurred or paid before or after the date of this Agreement, provided, however, that all such expense must be incurred by the General Partner directly and solely for such Partnership purposes. Accordingly, the general office and executive salaries and similar expenses of the General Partner shall not be paid or reimbursed by the Partnership.

Capital Contribution of General Partner and Sale of Property to Partnership. (a) The General Partner shall contribute $50,000.00 to the Partnership upon execution of this Agreement. (b) The General Partner hereby confirms its assignment of Interest interest to the Partnership, as an additional capital contribution, of all of its rights to and obligations of the Property. The Partnership hereby confirms its consent to and acceptance of such assignment of interest and agrees to reimburse the General Partner for all expenses in connection with or incidental to the purchase, development and sale of the Property and the other Partnership purposes as set forth in Article III of this Agreement, whether said expenses are incurred or paid before or after the date of this Agreement, ; provided, however, that all such expense must be incurred by the General Partner directly and solely for such Partnership purposes. Accordingly, the general office and executive salaries and similar expenses of the General Partner shall not be paid or reimbursed by the Partnership.

Capital Contribution of General Partner and Sale of Property to Partnership. (a) The General Partner shall contribute $50,000.00 to the Partnership upon execution of this Agreement. (b) The General Partner hereby confirms its assignment of Interest interest to the Partnership, as an additional capital contribution, of all of its rights to and obligations of the Property. The Partnership hereby confirms its consent to and acceptance of such assignment of interest and agrees to reimburse the General Partner for all expenses in connection with or incidental to the purchase, development and sale of the Property and the other Partnership purposes as set forth in Article III of this Agreement, whether said expenses are incurred or paid before or after the date of this Agreement, provided, however, that all such expense must be incurred by the General Partner directly and solely for such Partnership purposes. Accordingly, the general office Office and executive salaries and similar expenses of the General Partner shall not be paid or reimbursed by the Partnership.