Funding Debt. The General Partner may from time to time incur Funding Debt, including, without limitation, Funding Debt that is convertible into Common Shares or otherwise constitutes a class or series of a class of New Securities (“Convertible Funding Debt”), subject to the condition that the net proceeds of such Funding Debt are loaned to the Partnership; provided, that Convertible Funding Debt shall be issued pursuant to Section 4.2.C hereof; provided, further, that the General Partner shall not be obligated to lend the net proceeds of any Funding Debt to the Partnership in a manner that would be inconsistent with the General Partner’s (or the General Partner Entity’s) ability to remain qualified as a REIT. If the General Partner enters into any Funding Debt, the loan to the Partnership shall be on comparable terms and conditions, including interest rate, repayment schedule and costs and expenses, as are applicable with respect to or incurred in connection with such Funding Debt.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Forest City Enterprises Inc), Limited Partnership Agreement (Forest City Realty Trust, Inc.), Limited Partnership Agreement (Forest City Realty Trust, Inc.)
Funding Debt. The General Partner may from time to time incur Funding Debt, including, without limitation, Funding Debt that is convertible into Common Shares or otherwise constitutes a class or series of a class of New Securities (“Convertible Funding Debt”), subject to the condition that the net proceeds of such Funding Debt are loaned to the Partnership; provided, that Convertible Funding Debt shall be issued pursuant to Section 4.2.C hereof; provided, further, that the General Partner shall not be obligated to lend the net proceeds of any Funding Debt to the Partnership in a manner that would be inconsistent with the General Partner’s (or the General Partner Entity’s) ability to remain qualified as a REIT. If the General Partner enters into any Funding Debt, the loan to the Partnership shall be on comparable terms and conditions, including interest rate, repayment schedule and costs and expenses, as are applicable with respect to or incurred in connection with such Funding Debt.
Appears in 2 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (Clipper Realty Inc.)
Funding Debt. The Managing General Partner may from time to time incur a Funding Debt, including, without limitation, a Funding Debt that is convertible into Common Shares or otherwise constitutes a class or series of a class of New Securities (“"Convertible Funding Debt”"), subject to the condition that the Managing General Partner lend to the Partnership the net proceeds of such Funding Debt are loaned to the PartnershipDebt; provided, that Convertible Funding Debt shall be issued pursuant to Section 4.2.C hereof7.5.D above; providedand, provided further, that the Managing General Partner shall not be obligated to lend the net proceeds of any Funding Debt to the Partnership in a manner that would be inconsistent with the Managing General Partner’s (or the General Partner Entity’s) 's ability to remain qualified as a REIT. If the Managing General Partner enters into any Funding Debt, the loan to the Partnership shall be on comparable terms and conditions, including interest rate, repayment schedule and costs and expenses, as are applicable with respect to or incurred in connection with such Funding Debt.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Equity Office Properties Trust), Limited Partnership Agreement (Equity Office Properties Trust)