Guaranteed Payments. Any payment of salary, bonus or taxable fringe benefits made by the Partnership or its Subsidiaries to a Partnership Unit Holder shall be treated as a “guaranteed payment” under Section 707(c) of the Code. For the avoidance of doubt, distributions to the Preferred Unit Holders shall not be treated as “guaranteed payments” under Section 707(c) of the Code.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Artisan Partners Asset Management Inc.), Limited Partnership Agreement (Artisan Partners Asset Management Inc.), Limited Partnership Agreement (Artisan Partners Asset Management Inc.)
Guaranteed Payments. Any payment of salary, bonus or taxable fringe benefits made by the Partnership or its Subsidiaries to a Partnership Unit Holder shall be treated as a “guaranteed payment” under Section 707(c) of the Code. For the avoidance of doubt, SC1:3479243.8 distributions to the Preferred Unit Holders shall not be treated as “guaranteed payments” under Section 707(c) of the Code.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Artisan Partners Asset Management Inc.), Limited Partnership Agreement (Artisan Partners Asset Management Inc.)
