Common use of Loans to the Partnership Clause in Contracts

Loans to the Partnership. If additional funds are required by the Partnership for any purpose relating to the business of the Partnership or for any of its obligations, expenses, costs, or expenditures, including operating deficits, the Partnership may borrow such funds as are needed from the General Partner or any Affiliate of the General Partner for such period of time and on such terms as the General Partner or its Affiliate may agree, provided that the terms shall be substantially equivalent to the terms that could be obtained from a third party on an arm's-length basis.

Appears in 5 contracts

Samples: Limited Partnership Agreement (RFS Hotel Investors Inc), Limited Partnership Agreement (Winston Hotels Inc), Limited Partnership Agreement (RFS Hotel Investors Inc)

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Loans to the Partnership. If additional funds are required by the Partnership for any purpose relating to the business of the Partnership or for any of its obligations, expenses, costs, or expenditures, including operating deficits, the Partnership may borrow such funds as are needed from the General Partner or any Affiliate of the General Partner for such period of time and on such terms as the General Partner or its Affiliate may agree; provided, provided that the terms shall be substantially equivalent to the terms that could be obtained from a third party on an arm'sarm’s-length basis.

Appears in 1 contract

Samples: Limited Partnership Agreement (W2007 Grace Acquisition I Inc)

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