Common use of General Rules with Respect to Distributions Clause in Contracts

General Rules with Respect to Distributions. (a) The General Partners are also authorized to distribute Partnership Assets in kind. Any Partnership Asset distributed in kind shall be valued at its fair market value on the date of distribution and shall be distributed in accordance with Sections 8.1and 8.2. Capital Accounts and Carrying Values shall be adjusted in accordance with Section 7.2(e). (b) The General Partners shall specify a Record Date for any distribution, and any Partnership Assets distributed shall be distributed to the Unitholders of the relevant class or series as of the Record Date. (c) Any amount of taxes withheld pursuant to Section 10.4, and any amount of taxes, interest or penalties paid by the Partnership to any governmental entity, with respect to amounts allocated or distributable to a Unitholder shall be deemed to be a distribution or payment to such Unitholder and shall reduce the amount otherwise distributable to such Unitholder pursuant to this Article VIII. (d) Distributions made to Unitholders shall be made to "Unitholders"as defined in Article I without regard to the last sentence of the definition of "Unitholder".

General Rules with Respect to Distributions. (a) The General Partners are also authorized to distribute Partnership Assets in kind. Any Partnership Asset distributed in kind shall be valued at its fair market value on the date of distribution and shall be distributed in accordance with Sections 8.1and 8.2Section 8.1. Capital Accounts and Carrying Values shall be adjusted in accordance with Section 7.2(e). (b) The General Partners shall specify a Record Date for any distribution other than a quarterly distribution, and any Partnership Assets distributed shall be distributed to the Unitholders of the relevant class or series as of the Record Date. (c) Any amount of taxes withheld pursuant to Section 10.49.7, and any amount of taxes, interest or penalties paid by the Partnership to any governmental entity, with respect to amounts allocated or distributable to a Unitholder shall be deemed to be a distribution or payment to such Unitholder and shall reduce the amount otherwise distributable to such Unitholder pursuant to this Article VIII. (d) Distributions made to Unitholders shall be made to "Unitholders"as defined in Article I without regard to the last sentence of the definition of "Unitholder".

General Rules with Respect to Distributions. (a) The General Partners are also authorized to distribute Partnership Assets in kind. Any Partnership Asset distributed in kind shall be valued at its fair market value on the date of distribution and shall be distributed in accordance with Sections 8.1and 8.2Section 8.1. Capital Accounts and Carrying Values shall be adjusted in accordance with Section 7.2(e). (b) The General Partners shall specify a Record Date for any distribution other than a quarterly distribution, and any Partnership Assets distributed shall be distributed to the Unitholders of the relevant class or series as of the Record Date. (c) Any amount of taxes withheld pursuant to Section 10.49.7, and any amount of taxes, interest or penalties paid by the Partnership to any governmental entity, with respect to amounts allocated or distributable to a Unitholder shall be deemed to be a distribution or payment to such Unitholder and shall reduce the amount otherwise distributable to such Unitholder pursuant to this Article VIII. (d) Distributions made to Unitholders shall be made to "Unitholders"as Unitholders" as defined in Article I without regard to the last sentence of the definition of "Unitholder".