No Obligations to Consider Tax Consequences. In exercising its authority under this Agreement, the General Partner may, but shall not be obligated to, take into account the tax consequences to any Partner (including the General Partner and/or the General Partner Entity, if different) of any action taken (or not taken) by it. None of the General Partner, the General Partner Entity, if different or the Partnership shall have any liability to a Limited Partner under any circumstances as a result of an income tax or other tax liability incurred by such Limited Partner as a result of an action of the General Partner or the General Partner Entity taken (or not taken) pursuant to its authority under this Agreement and in accordance with Section 7.3 hereof.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Forest City Enterprises Inc), Limited Partnership Agreement (Forest City Realty Trust, Inc.), Limited Partnership Agreement (Forest City Realty Trust, Inc.)
No Obligations to Consider Tax Consequences. In exercising its authority under this Agreement, the General Partner may, but shall not be obligated to, take into account the tax consequences to any Partner (including the General Partner and/or the General Partner Entity, if differentPartner) of any action taken (or not taken) by it. None of the General Partner, the General Partner Entity, if different or the Partnership shall have any liability to a Limited Partner under any circumstances as a result of an income tax or other tax liability incurred by such Limited Partner as a result of an action of the General Partner or the General Partner Entity taken (or not taken) pursuant to its authority under this Agreement and in accordance with Section 7.3 hereof.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Clipper Realty Inc.), www.sec.gov
