Common use of Loans by General Partner Clause in Contracts

Loans by General Partner. If required in the discretion of the General Partner for any reason, the General Partner may advance funds to the Partnership. In the event that the General Partner shall advance funds to the Partnership, the General Partner shall receive interest in an amount equal to the General Partner’s actual interest cost with respect to such advance when the General Partner has directly borrowed the funds advanced to the Partnership, or, if the General Partner has not directly borrowed the funds advanced to the Partnership, at the Interest Rate. Notwithstanding anything contained in this Agreement to the contrary, all loans made by the General Partner to the Partnership, together with accrued interest thereon, shall be paid in full before any distributions are made to the Partners. The General Partner has no obligation to loan any funds to the Partnership under any circumstances.

Loans by General Partner. If required in the discretion of the ------------------------ General Partner for any reason, the General Partner may advance funds to the Partnership. In the event that the General Partner shall advance funds to the Partnership, the General Partner shall receive interest in an amount equal to the General Partner’s 's actual interest cost with respect to such advance when the General Partner has directly borrowed the funds advanced to the Partnership, or, if the General Partner has not directly borrowed the funds advanced to the Partnership, at the Interest Rate. Notwithstanding anything contained in this Agreement to the contrary, all loans made by the General Partner to the Partnership, together with accrued interest thereon, shall be paid in full before any distributions are made to the Partners. The General Partner has no obligation to loan any funds to the Partnership under any circumstances.