Common use of No Obligations to Consider Tax Consequences of Limited Partners Clause in Contracts

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: Limited Partnership Agreement (Gramercy Property Trust), Agreement of Limited Partnership (Gramercy Property Trust Inc.), Limited Partnership Agreement (Gramercy Property Trust Inc.)

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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: Limited Partnership Agreement (Vornado Realty Trust), Limited Partnership Agreement (Vornado Operating Co), Limited Partnership Agreement (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: Limited Partnership Agreement (First Union Real Estate Equity & Mortgage Investments), Limited Partnership Agreement (Shelbourne Properties I Inc), Limited Partnership Agreement (Shelbourne Properties Ii 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: Agreement of Limited Partnership (InfraREIT, Inc.), Limited Partnership Agreement (InfraREIT, Inc.), Limited Partnership Agreement (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: Limited Partnership Agreement (Equity Office Properties Trust), Limited Partnership Agreement (Equity Office Properties Trust), Limited Partnership Agreement (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 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: Limited Partnership Agreement (Lexington Strategic Asset Corp), Limited Partnership Agreement (Carramerica Realty Corp), Limited Partnership Agreement (Carramerica Realty Corp)

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: Limited Partnership Agreement (LaSalle Hotel Properties), Limited Partnership Agreement (Lasalle Hotel Properties), Limited Partnership Agreement (Lasalle Hotel Properties)

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: Limited Partnership Agreement (Equity Office Properties Trust), Limited Partnership 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: Limited Partnership Agreement (U-Store-It Trust), Limited Partnership Agreement (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: Limited Partnership Agreement (CBL & Associates Limited Partnership), Agreement of Limited Partnership (CBL & Associates Limited Partnership)

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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: Limited Partnership Agreement (Carramerica Realty Operating Partnership Lp), Limited Partnership Agreement (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 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

Samples: Limited Partnership Agreement (American Industrial Properties Reit Inc)

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: Agreement of Limited Partnership (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: Limited Partnership Agreement (Equity Office Properties Trust)

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