No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to its authority under this Agreement.
Appears in 19 contracts
Samples: Fourth (Gramercy Property Trust Inc.), Gramercy Property Trust, Gramercy Property Trust Inc.
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to not beyond its authority under this Agreement.
Appears in 7 contracts
Samples: Vornado Realty Trust, Vornado Operating Inc, Vornado Realty Trust
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to not beyond its authority under this Agreement.
Appears in 5 contracts
Samples: Agreement (First Union Real Estate Equity & Mortgage Investments), Newkirk Master Lp, Shelbourne Properties I Inc
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by itany of them. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to its authority under this Agreement.
Appears in 4 contracts
Samples: InfraREIT, Inc., InfraREIT, Inc., InfraREIT, Inc.
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its their authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by itany of them. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to its authority under this Agreement.
Appears in 3 contracts
Samples: Assignment and Assumption Agreement (Equity Office Properties Trust), Guaranty Agreement (Equity Office Properties Trust), Equity Office Properties Trust
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its their authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by itany of them. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has have acted in good faith and pursuant to its their authority under this Agreement.
Appears in 3 contracts
Samples: LaSalle Hotel Properties, Lasalle Hotel Properties, Lasalle Hotel Properties
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities under any circumstances as a result of an income tax liability incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that as a result of an action (or inaction) by the General Partner has acted in good faith and pursuant to its authority under this Agreement.
Appears in 3 contracts
Samples: Lexington Strategic Asset Corp, Carramerica Realty Corp, Carramerica Realty Corp
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages under any circumstances as a result of an income tax or otherwise for losses sustained, liabilities other tax liability incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that as a result of an action (or inaction) by the General Partner has acted in good faith and taken pursuant to its authority under this AgreementAgreement and in accordance with the terms of Section 7.3.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Urban Edge Properties), Limited Partnership Agreement (Urban Edge Properties)
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its their authority under this Agreement, the General Partner (which for the purposes of this Section 7.1.E shall include, the board of directors of the General Partner) may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to its authority under this Agreement.General
Appears in 2 contracts
Samples: Carramerica Realty Corp, Carramerica Realty Operating Partnership Lp
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its their authority under this Agreement, the General Partner Partners may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General PartnerPartners) of any action taken (or not taken) by itany of them. The General Partner Partners and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred -25- 31 or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has Partners have acted in good faith and pursuant to its their authority under this Agreement.
Appears in 2 contracts
Samples: Assignment and Assumption Agreement (Equity Office Properties Trust), Assignment and Assumption Agreement (Equity Office Properties Trust)
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its their authority under this Agreement, the General Partner (which for the purposes of this Section 7.1.E shall include, the board of trustees of the General Partner) may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to its authority under this Agreement.General
Appears in 2 contracts
Samples: U-Store-It Trust, U-Store-It Trust
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided provided, however, that the General Partner has acted in good faith and pursuant to not beyond its authority under this Agreement.
Appears in 2 contracts
Samples: CBL & Associates Limited Partnership, CBL & Associates Limited Partnership
No Obligations to Consider Tax Consequences of Limited Partners. In Subject to the terms of any agreement between the Partnership and a Limited Partner, in exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General Partner) of any action taken (or not taken) by itany of them. The General Partner and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has have acted in good faith and pursuant to its their authority under this Agreement.
Appears in 1 contract
Samples: Presidio Golf Trust
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its their authority under this Agreement, the General Partner Partners may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General PartnerPartners) of any action taken (or not taken) by itany of them. The General Partner Partners and the Partnership shall not have liability to a Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has Partners have acted in good faith and pursuant to its their authority under this Agreement.
Appears in 1 contract
Samples: Equity Office Properties Trust
No Obligations to Consider Tax Consequences of Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner (including the General PartnerLimited Partners) of any action taken (or not taken) by it. The General Partner and the Partnership shall not have liability to a any Limited Partner for monetary damages or otherwise for losses sustained, liabilities incurred or benefits not derived by such Limited Partner in connection with such decisions, provided that the General Partner has acted in good faith and pursuant to its authority under this Agreement.
Appears in 1 contract
