Common use of Non-Recognition of Trusts or Beneficial Interests Clause in Contracts

Non-Recognition of Trusts or Beneficial Interests. Units may be held by nominees on behalf of the beneficial owners of the Units. Notwithstanding the foregoing, except as provided in this Agreement, as required by Law or as recognized by the General Partner in its sole discretion, no Person will be recognized (including in any case in which the nominee has furnished the identity of such owner to the Partnership in accordance with Section 6031(c) of the Code) by the Partnership or any Limited Partner as holding any Unit in trust, or on behalf of another Person with the beneficial interest in that other Person, and the Partnership and Limited Partners will not be bound or compelled in any way to recognize (even when having actual notice) any equitable, contingent, future or partial interest in any Unit or in any fractional part of a Unit or any other rights in respect of any Unit except an absolute right to the entirety of the Unit in the Limited Partner shown on the Record as holder of that Unit.

Non-Recognition of Trusts or Beneficial Interests. Partnership Units may be held by nominees on behalf of the beneficial owners of the UnitsPartnership Units (subject to the other terms, conditions and restrictions of this Agreement). Notwithstanding the foregoing, except as provided in this Agreement, as required by Law law or as recognized by the General Partner REIT GP in its sole discretion, no Person will be recognized (including in any case in which the nominee has furnished the identity of such owner to the Partnership in accordance with Section 6031(c) of the Code) by the Partnership or any Limited Partner as holding any Partnership Unit in trust, or on behalf of another Person with the beneficial interest in that other Person, and the Partnership and Limited Partners will not be bound or compelled in any way to recognize (even when having actual notice) any equitable, contingent, future or partial interest in any Partnership Unit or in any fractional part of a an Partnership Unit or any other rights in respect of any Partnership Unit except an absolute right to the entirety of the Partnership Unit in of the Limited Partner shown on the Record as holder of that Partnership Unit.

Non-Recognition of Trusts or Beneficial Interests. Except as specifically provided for in this Agreement, Units may be held by nominees on behalf of the beneficial owners of the Unitsthereof. Notwithstanding the foregoing, except as provided in this Agreement, as required by Law or as recognized by the General Partner in its sole discretionlaw, no Person will be recognized (including in any case in which the nominee has furnished the identity of such owner to the Partnership in accordance with Section 6031(c) of the Code) by the Limited Partnership or any Limited Partner as holding any Unit in trust, or on behalf of another Person with the beneficial interest in that other Person, and the Limited Partnership and Limited Partners will not be bound or compelled in any way to recognize (even when having actual notice) any equitable, contingent, future or partial interest in any Unit or in any fractional part of a an Unit or any other rights in respect of any Unit except an absolute right to the entirety of the Unit in the Limited Partner Partnership shown on the Record as holder of that such Unit.

Non-Recognition of Trusts or Beneficial Interests. Units may be held by nominees on behalf of the beneficial owners of the Units. Notwithstanding the foregoing, except Except as provided in this Agreementherein, as required by Law law or as recognized by the General Partner in its sole discretion, no Person will be recognized (including in any case in which the nominee has furnished the identity of such owner to the Partnership in accordance with Section 6031(c) of the Code) by the Partnership or any Limited Partner as holding any Unit in trust, or on behalf of another Person with the beneficial interest in that other Persontherein, and the Partnership and Limited Partners will not be bound or compelled in any way to recognize (even when having actual notice) any equitable, contingent, future future, or partial interest in any Unit or in any fractional part of a Unit or any other rights in respect of any Unit or fractional part of a Unit except an absolute right to the entirety Unit or fractional part of the Unit in the Limited Partner shown on the Record as holder of that such Unit.