Common use of Loans by Third Parties Clause in Contracts

Loans by Third Parties. The General Partner, in its sole and absolute discretion on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur Debt to any Person (other than the General Partner or the Special Limited Partner (but, for this purpose, disregarding any Debt that may be deemed incurred to the General Partner or the Special Limited Partner by virtue of clause (iii) of the definition of Debt)) upon such terms as the General Partner determines appropriate, including making such Debt convertible, redeemable or exchangeable for Partnership Units or REIT Shares; provided, however, that the Partnership shall not incur any such Debt if any Limited Partner would be personally liable for the repayment of such Debt (unless such Limited Partner otherwise agrees).

Appears in 4 contracts

Samples: Limited Partnership Agreement (Spirit Realty, L.P.), Limited Partnership Agreement (Spirit Realty Capital, Inc.), Limited Partnership Agreement (Spirit Realty Capital, Inc.)

AutoNDA by SimpleDocs

Loans by Third Parties. The General Partner, in its sole and absolute discretion on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur Debt to any Person (other than the General Partner or the Special Limited Partner (but, for this purpose, disregarding any Debt that may be deemed incurred to the General Partner or the Special Limited Partner by virtue of clause (iii) of the definition of Debt)) upon such terms as the General Partner determines appropriate, including making such Debt convertible, redeemable or exchangeable for Partnership Units or Units, REIT Shares, Capital Shares or New Securities of the General Partner; provided, however, that the Partnership shall not incur any such Debt if any Limited Partner would be personally liable for the repayment of such Debt (unless such Limited Partner otherwise agrees).

Appears in 3 contracts

Samples: Limited Partnership Agreement (CoreSite Realty Corp), Limited Partnership Agreement (CoreSite Realty Corp), Limited Partnership Agreement (CoreSite Realty Corp)

Loans by Third Parties. The General Partner, in its sole and absolute discretion on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur Debt to any Person (other than the General Partner or the Special Limited Partner (but, for this purpose, disregarding any Debt that may be deemed incurred to the General Partner or the Special Limited Partner by virtue of clause (iii) of the definition of Debt)) upon such terms as the General Partner determines appropriate, including making such Debt convertible, redeemable or exchangeable for Partnership Units or Units, REIT Shares, Capital Shares or New Securities of the General Partner; provided, however, that the Partnership shall not incur any such Debt if any Limited Partner would be personally liable for the repayment of such Debt (unless such Limited Partner otherwise agrees).

Appears in 2 contracts

Samples: Agreement of Limited Partnership (CoreSite Realty Corp), Agreement of Limited Partnership (CoreSite Realty Corp)

AutoNDA by SimpleDocs

Loans by Third Parties. The General Partner, in its sole and absolute discretion on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur Debt to any Person (other than the General Partner (or any direct or indirect wholly-owned Subsidiary of the Special Limited Partner General Partner) (but, for this purpose, disregarding any Debt that may be deemed incurred to the General Partner or the Special Limited Partner by virtue of clause (iii) of the definition of Debt)) upon such terms as the General Partner determines appropriate, including making such Debt convertible, redeemable or exchangeable for Partnership Units or REIT Shares; provided, however, that the Partnership shall not incur any such Debt if any Limited Partner would be personally liable for the repayment of such Debt (unless such Limited Partner otherwise agrees).

Appears in 1 contract

Samples: Agreement of Limited Partnership (NewLake Capital Partners, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!