Common use of Loans by Third Parties Clause in Contracts

Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness to any Person, other than the General Partner or its Affiliates, upon such terms as the General Partner determines appropriate, including making such indebtedness convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such debt if (i) a breach, violation or default of such indebtedness would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (ii) such debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 27 contracts

Samples: Agreement (MPT of West Anaheim, LLC), Agreement (MPT of West Anaheim, LLC), Agreement (MPT of West Anaheim, LLC)

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Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness Debt to any Person, Person (other than the Previous General Partner, the General Partner or its Affiliates, the Special Limited Partner) upon such terms as the General Partner determines appropriate, including making such indebtedness Debt convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such debt Debt if (i) a breach, violation or default of such indebtedness Debt would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (ii) such debt Debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 5 contracts

Samples: Aimco Properties L.P., Apartment Investment & Management Co, Apartment Investment & Management Co

Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness Debt to any Person, Person (other than the Previous General Partner, the General Partner or its Affiliates, the Special Limited Partners) upon such terms as the General Partner determines appropriate, including making such indebtedness Debt convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such debt Debt if (i) a breach, violation or default of such indebtedness Debt would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (ii) such debt Debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 3 contracts

Samples: Aimco Properties L.P., Apartment Income REIT Corp., Apartment Income REIT Corp.

Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness Debt to any Person, Person (other than the Previous General Partner or its Affiliates, the General Partner) upon such terms as the General Partner determines appropriate, including making such indebtedness Debt convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such debt Debt if (i) a breach, violation or default of such indebtedness Debt would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (ii) such debt Debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 2 contracts

Samples: Agreement (Aimco OP L.P.), Aimco OP L.P.

Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness Debt to any Person, Person (other than the Previous General Partner, the General Partner or its Affiliates, the Special Limited Partner) upon such terms as the General Partner determines appropriate, including includng making such indebtedness Debt convertible, redeemable or exchangeable for Partnership Units; providedPROVIDED, howeverHOWEVER, that the Partnership shall not incur any such debt Debt if (i) a breach, violation or default of such indebtedness Debt would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (ii) such debt Debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 1 contract

Samples: Apartment Investment & Management Co

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Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness to any Person, other than the General Partner or its AffiliatesAffiliâtes, upon such terms as the General Partner determines appropriate, including making such indebtedness convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such debt if (i) a breach, violation or default of such indebtedness would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (ii) such debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 1 contract

Samples: Agreement (MPT of West Anaheim, LLC)

Loans by Third Parties. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness to any Person, other than the General Partner or its Affiliates, upon such terms as the General Partner determines appropriate, including making such indebtedness convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such debt if (i) a breach, violation or default of such indebtedness would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (iiif) such debt is recourse to any Partner (unless the applicable Partner otherwise agrees).

Appears in 1 contract

Samples: MPT of West Anaheim, LLC

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