Common use of Debt Allocation Clause in Contracts

Debt Allocation. C-M Holdings L.P. shall have the option, to the --------------- extent of indebtedness available for such purpose, of guaranteeing on a "bottom dollar basis," an amount of indebtedness of the Partnership or any successor thereto, as is necessary from time to time to provide an allocation of debt to C-M Holdings L.P. equal to the amount of debt then required to be allocated to C-M Holdings L.P. to enable C-M Holdings L.P. to avoid recognizing gain pursuant to Section 731(a)(1) of the Code as a result of a deemed distribution of money to C-M Holdings L.P. pursuant to Section 752(b) of the Code. The General Partner may, in its discretion, permit other Limited Partners to provide similar guarantees from time to time.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Cabot Industrial Properties Lp), Limited Partnership Agreement (Cabot Industrial Properties Lp), Limited Partnership Agreement (Cabot Industrial Trust)

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Debt Allocation. C-M Holdings L.P. shall have the option, to --------------- the --------------- extent of indebtedness available for such purpose, of guaranteeing on a "bottom dollar basis," an amount of indebtedness of the Partnership or any successor thereto, as is necessary from time to time to provide an allocation of debt to C-M Holdings L.P. equal to the amount of debt then required to be allocated to C-M Holdings L.P. to enable C-M Holdings L.P. to avoid recognizing gain pursuant to Section 731(a)(1) of the Code as a 40 result of a deemed distribution of money to C-M Holdings L.P. pursuant to Section 752(b) of the Code. The General Partner may, in its discretion, permit other Limited Partners to provide similar guarantees from time to time.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Cabot Industrial Trust)

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Debt Allocation. C-M Holdings L.P. shall have the option, to --------------- the --------------- extent of indebtedness available for such purpose, of guaranteeing on a "bottom dollar basis," an amount of indebtedness of the Partnership or any successor thereto, as is necessary from time to time to provide an allocation of debt to C-M Holdings L.P. equal to the amount of debt then required to be allocated to C-M Holdings L.P. to enable C-M Holdings L.P. to avoid recognizing gain pursuant to Section 731(a)(1) of the Code as a result of a deemed distribution of money to C-M Holdings L.P. pursuant to Section 752(b) of the Code. The General Partner may, in its discretion, permit other Limited Partners to provide similar guarantees from time to time.

Appears in 1 contract

Samples: Contribution Agreement (Cabot Industrial Trust)

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