Common use of Indemnification of Tax Matters Partner Clause in Contracts

Indemnification of Tax Matters Partner. Notwithstanding any other provision of this Agreement (but subject to Section 6.7 of this Agreement), the Partnership shall indemnify, and reimburse, to the fullest extent permitted by law, the Tax Matters Partner for all Losses incurred in connection with any Tax Audit or Judicial Review proceeding with respect to the tax liability of the Partners, except to the extent the Tax Matters Partner’s conduct constituted a Willful Bad Act or gross negligence.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Industrial Property Trust Inc.), Limited Partnership Agreement (Industrial Property Trust Inc.), Limited Partnership Agreement (Industrial Property Trust Inc.)

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Indemnification of Tax Matters Partner. Notwithstanding any other provision of this Agreement (but subject to Section 6.7 of this Agreement), the Partnership shall indemnify, and reimburse, to the fullest extent permitted by law, the Tax Matters Partner for all Losses incurred in connection with any Tax Audit or Judicial Review proceeding with respect to the tax liability of the Partners, except to the extent the Tax Matters Partner’s conduct constituted a Willful Bad Act or gross negligence.. ​

Appears in 1 contract

Samples: Limited Partnership Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)

Indemnification of Tax Matters Partner. Notwithstanding any other provision of this Agreement (but subject to Section 6.7 of this Agreement), the Partnership shall indemnify, and reimburse, to the fullest extent permitted by law, the Tax Matters Partner for all Losses incurred in connection with any Tax Audit or Judicial Review proceeding with respect to the tax liability of the Partners, except to the extent the Tax Matters Partner’s conduct constituted a Willful Bad Act or gross negligence.. ​

Appears in 1 contract

Samples: Limited Partnership Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)

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Indemnification of Tax Matters Partner. Notwithstanding any other provision of this Agreement (but subject to Section 6.7 of this Agreement), the Partnership shall indemnify, and reimburse, to the fullest extent permitted by law, the Tax Matters Partner for all Losses incurred in connection with any Tax Audit tax audit or Judicial Review judicial review proceeding with respect to the tax liability of the Partners, except to the extent if the Tax Matters Partner’s conduct constituted did not constitute a Willful Bad Act or gross negligence.

Appears in 1 contract

Samples: Limited Partnership Agreement (Industrial Income Trust Inc.)

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