General and Special Rules A Sample Clauses

General and Special Rules A. Except as otherwise provided herein, the timing and amount of all distributions shall be determined by the General Partners. No Partner shall have the right to demand and receive any distribution of property other than cash. Notwithstanding any other provision of this Agreement, the General Partners shall have authority to make the following distributions to certain of the Unitholders: First, if the Partnership has realized a savings on Selling Commissions payable by the Partnership with respect to the purchase of Units by a Unitholder of 4,000 or more Units (as more fully set forth in the Prospectus), the General Partners shall make a distribution to such Unitholder equal to the amount of such savings realized by the Partnership. Second, if any interest is earned on a Unitholder's Capital Contribution while it is held in escrow pending recognition as a Unitholder under Article VII, such interest shall be paid by the Partnership to such Unitholder and Profit attributable to such interest shall be allocated in the same manner. B. Subject to all of the special rules of this Section 4.5, if any Partnership property is distributed to the Partners in kind, such Partnership Property first shall be valued on the basis of the fair market value thereof to determine the Profit or Loss that would have resulted if such Partnership property had been sold, and then such Profit or Loss shall be allocated as provided in Section 4.1A, and shall be properly credited or charged to the Capital Accounts of the Partners in accordance with Treas. Reg. ss.1.704-1(b)(2)(iv)(e) or any successor provision thereto. Any Partner entitled to any interest in such assets shall receive such interest as a tenant-in-common with all other Partners so entitled. The fair market value of such assets shall be determined by an independent appraiser who shall be selected by the General Partners. C. Notwithstanding Sections 4.1 and 4.3 hereof, if an allocation of Loss (or item thereof) to a Unitholder or Partner would cause or increase a deficit balance in his or its Capital Account in excess of: (i) in the case of a Unitholder or Partner other than a General Partner, his proportionate share of Minimum Gain, or (ii) in the case of a General Partner, the sum of the amount which it is obligated to restore to the Partnership pursuant to Section 3.1 hereof and its proportionate share of Minimum Gain (in each case, such excess being referred to hereafter as the "Excess Deficit Balance"), then the allocat...
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General and Special Rules A. Except as otherwise provided herein, the timing and amount of all distributions shall be determined by the General Partners. No Partner shall have the right to demand and receive any distribution of property other than cash. Notwithstanding any other provision of this Agreement, the General Partners shall have authority to make the following distributions to certain of the Investors: First, if the Fund has realized a savings on Selling Commissions payable by the Fund with respect to the purchase of Units (as more fully set forth in the Prospectus), the General Partners shall make a distribution to such Investor equal to the amount of such savings realized by the Fund. Second, if any interest is earned on an Investors Capital Contribution while it is held in escrow pending recognition as an Investor under Article VII, such interest shall be paid by the Fund to such Investor and Profit attributable to such interest shall be allocated in the same manner. A-14
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General and Special Rules A. Except as otherwise provided herein, the timing and amount of all distributions shall be determined by the General Partners. No Partner shall have the right to demand and receive any distribution of property other than cash. Notwithstanding any other provision of this Agreement, the General Partners shall have authority to make the following distributions to certain of the Unitholders: First, if the Partnership has realized a savings on Selling Commissions payable by the Partnership with respect to the purchase of Units by a Unitholder of 4,000 or more Units (as more fully set forth in the Prospectus), the General Partners shall make a distribution to such Unitholder equal to the amount of such savings realized by the Partnership. Second, if any interest is earned on a Unitholder's Capital Contribution while it is held in escrow pending recognition as a Unitholder under Article VII, such interest shall be paid by the Partnership to such Unitholder and Profit attributable to such interest shall be allocated in the same manner.
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General and Special Rules A. Except as otherwise provided herein, the timing and amount of all distributions shall be determined by the General Partner. Notwithstanding any other provision of this Agreement, the General Partner shall have authority to make the following distributions to certain of the Investors: First, if the Partnership has realized a savings on Sales Commissions payable by the Partnership with respect to the purchase of Units (as more fully set forth in the Prospectus), the General Partner shall make a distribution to such Investor equal to the amount of such savings realized by the Partnership. Second, if any interest is earned on an Investor's Capital Contribution while it is held in escrow pending recognition as an Investor under Article VII, such interest shall be paid by the Partnership to such Investor and Profit attributable to such interest shall be allocated in the same manner. B. Subject to all of the special rules of this Section 4.5, if any property or assets of the Partnership are distributed to the Partners in kind, such property or assets first shall be valued on the basis of the fair market value thereof to determine the Profit or Loss that would have resulted if such property or assets had been sold, and then such Profit or Loss shall be allocated as provided Section 4.1A and Section 4.1B, and shall be properly credited or charged to the Capital Accounts in accordance with Income Tax Reg. ss.1.704-1(b)(2)(iv)(e) or any successor provision thereto. Any Partner entitled to any A-12
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Related to General and Special Rules A

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  • Construction Rules Each party represents that its has been represented by and relied on the advice of counsel of its choice in the negotiation and drafting of the Agreement. The parties affirm that their respective counsel have had a substantial role in the drafting and negotiation of this Agreement and, therefore, the rule of construction that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any Schedule attached hereto.

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  • APPLICABLE RULES AND REGULATIONS The Account and each transaction therein shall be subject to the terms of this Agreement and to (a) all applicable laws and the regulations, rules and orders (collectively "regulations") of all regulatory and self-regulatory organizations having jurisdiction and (b) the constitution, by-laws, rules, regulations, orders, resolutions, interpretations and customs and usages (collectively "rules") of the market and any associated clearing organization (each an "exchange") on or subject to the rules of which such transaction is executed and/or cleared. The reference in the preceding sentence to exchange rules is solely for DWR's protection and DWR's failure to comply therewith shall not constitute a breach of this Agreement or relieve Customer of any obligation or responsibility under this Agreement. DWR shall not be liable to Customer as a result of any action by DWR, its officers, directors, employees or agents to comply with any rule or regulation.

  • PARKING RULES AND REGULATIONS The following rules and regulations govern the use of the parking facilities which serve the Building. Tenant will be bound by such rules and regulations and agrees to cause its employees, subtenants, assignees, contractors, suppliers, customers and invitees to observe the same:

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