Loans by Third Parties. The Partnership may incur or assume Debt, or enter into other similar credit, guarantee, financing or refinancing arrangements, for any purpose (including, without limitation, in connection with any further acquisition of Properties from any Person), upon such terms as the General Partner determines appropriate; provided, however, that the Partnership shall not incur or assume any Debt under which a breach, violation or default would be deemed to occur by virtue of the Transfer of any Limited Partner Interest or General Partner Interest; provided, further, that any Debt shall be nonrecourse to the General Partner unless the General Partner otherwise agrees.
Appears in 3 contracts
Samples: Agreement of Limited Partnership (New Plan Excel Realty Trust Inc), Limited Partnership Agreement (Excel Realty Trust Inc), Agreement of Limited Partnership (Excel Realty Trust Inc)
Loans by Third Parties. The Partnership may incur or assume Debt, or enter into other similar credit, guarantee, financing or refinancing arrangements, arrangements for any purpose (including, without limitation, in connection with any further acquisition of Properties from property) with any Person), Person that is not the General Partner upon such terms as the General Partner determines appropriate; providedPROVIDED THAT, however, that the Partnership shall not incur or assume any Debt under which a breach, violation or default would be deemed to occur by virtue of the Transfer of any Limited Partner Interest or General Partner Interest; provided, further, that any Debt shall be nonrecourse is recourse to the General Partner unless Partner, except to the extent otherwise agreed to by the General Partner otherwise agreesin its sole discretion.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Sl Green Realty Corp), Agreement of Limited Partnership (Sl Green Realty Corp)
Loans by Third Parties. The Subject to the provisions of Section 4.4 and Section 7.3 hereof, the Partnership may incur or assume Debt, or enter into other similar credit, guarantee, financing or refinancing arrangements, for any purpose (including, without limitation, in connection with any further acquisition of Properties from any Person), upon such terms as the General Partner determines appropriate; provided, however, that the Partnership shall not incur or assume any Debt under which a breach, violation or default would be deemed to occur by virtue of the Transfer of any Limited Partner Interest or General Partner Partnership Interest; provided, further, that any Debt shall be nonrecourse to the General Partner unless the General Partner otherwise agrees.
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Loans by Third Parties. The Partnership may incur or assume Debt, or enter into other similar credit, guarantee, financing or refinancing arrangements, arrangements for any purpose (including, without limitation, in connection with any further acquisition of Properties from property) with any Person), Person that is not the General Partner upon such terms as the General Partner determines appropriateappropriate (subject to Section 7.6); providedprovided that, however, that the Partnership shall not incur or assume any Debt under which a breach, violation or default would be deemed to occur by virtue of the Transfer of any Limited Partner Interest or General Partner Interest; provided, further, that any Debt shall be nonrecourse is recourse to the General Partner unless Partner, except to the extent otherwise agreed to by such General Partner otherwise agrees.in its sole discretion. ARTICLE VIII
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Loans by Third Parties. The Partnership may incur or assume Debtindebtedness, or enter into other similar credit, guarantee, financing or refinancing arrangements, for any purpose (including, without limitation, in connection with any further acquisition of Properties from any Person), upon such terms as the General Partner determines appropriate; provided, however, that the Partnership shall not incur or assume any Debt indebtedness under which a breach, violation or default would be deemed to occur by virtue of the Transfer of any Limited Partner Interest or General Partner Interest; provided, further, that any Debt such indebtedness shall be nonrecourse to the General Partner unless the General Partner otherwise agrees.
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Loans by Third Parties. The Partnership may incur or assume Debt, or enter into other similar credit, guarantee, financing or refinancing arrangements, arrangements for any purpose (including, without limitation, in connection with any further acquisition of Properties from property) with any Person), Person that is not a General Partner upon such terms as the General Partner determines appropriate; providedprovided that, however, that the Partnership shall not incur or assume any Debt under which that is recourse to a breachGeneral Partner, violation or default would be deemed except to occur the extent otherwise agreed to by virtue of the Transfer of any Limited Partner Interest or such General Partner Interest; provided, further, that any Debt shall be nonrecourse to the General Partner unless the General Partner otherwise agreesin its sole discretion.
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Samples: Agreement of Limited Partnership (Presidio Golf Trust)