Common use of Fees and Other Payments Receivable by the Partners or their Affiliates Clause in Contracts

Fees and Other Payments Receivable by the Partners or their Affiliates. The Partners or their Affiliates may receive from the Partnership, on the terms and conditions hereinafter set forth, certain rentals, fees and revenues, which shall be in addition to the interest of the Partners in the net income and loss, Available Cash Flow and Sale Proceeds of the Partnership. Each Partner, by execution of this Agreement, hereby approves, consents to and ratifies all the arrangements pursuant to which the fees, rentals and revenues described below are to be paid. Each Partner expressly acknowledges and agrees that the duties enumerated hereinafter are not duties that are obligations of the other Partner in its capacity as a Partner, but rather are solely contractual obligations of such other Partner or its Affiliates undertaken pursuant to separate contracts with the Partnership.

Appears in 5 contracts

Samples: Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.), Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.), Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!