Net Worth of the General Partner. The General Partner shall have and maintain at all times during which it is the general partner of the Partnership a net worth which is sufficient to conduct the business of the Partnership in a prudent manner and to comply with any requirements of the Code or the regulations thereunder or interpretations by the Internal Revenue Service thereof necessary to avoid the taxation of the Partnership as an association taxable as a corporation.
Appears in 5 contracts
Samples: Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.), Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.), Limited Partnership Agreement (HEALTHSOUTH of Toms River, Inc.)
Net Worth of the General Partner. The General Partner shall have and maintain at all times during which it is the general partner of the Partnership a net worth which is sufficient to conduct the business of the Partnership in a prudent manner and to comply with any requirements of the Code or the regulations thereunder or interpretations by of the Internal Revenue Service thereof necessary to avoid the taxation of the Partnership as an association taxable as a corporation.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Hit Entertainment Inc), Limited Partnership Agreement (Hit Entertainment Inc)
