Common use of General and Special Rules A Clause in Contracts

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

Appears in 5 contracts

Samples: Limited Partnership Agreement (Meridian Healthcare Growth & Income Fund LTD Partnership), Limited Partnership Agreement (Meridian Healthcare Growth & Income Fund LTD Partnership), Limited Partnership Agreement (Meridian Healthcare Growth & Income Fund LTD Partnership)

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