Common use of Obligation to Repay or Restore Clause in Contracts

Obligation to Repay or Restore. If the Limited Partner has received distributions of Net Cash Flow or Net Proceeds of a Capital Transaction, it may be obligated under the Act to repay or restore to the Partnership all or a portion of the amount received if such distributions cause the fair market value of the Partnership’s assets to be less than the Partnership’s liabilities. Subject to the foregoing requirement, the Limited Partner shall not be required to pay to the Partnership or to any other Partner any deficit or negative balance which may exist from time to time in its Capital Account; provided, however, in the event the Limited Partner erroneously receives distributions in excess of his interest in such distributions as specified in Sections 4.1, 4.2 and 4.3 hereof (“Excess Distributions”), then, as between the Partners but not for the benefit of other Persons, such Partner shall be indebted to the Partnership for such Excess Distributions, and such indebtedness shall be payable on terms or on demand as may be prescribed by the General Partner. The General Partner shall contribute, prior to the dissolution and liquidation of the Partnership, an amount equal to the lesser of (a) an amount which will cause the total Capital Contributions made by the General Partner during the Partnership Term to equal one percent (1%) of the total Capital Contributions made to the Partnership (including the Capital Contribution to be made by the General Partner pursuant to this Section 5.5), or (b) the deficit balance in its Capital Account as of the date of such dissolution and liquidation.

Obligation to Repay or Restore. If the Limited Partner has received distributions of Net Cash Flow or Net Proceeds of a Capital Transaction, it may be obligated under the Act to repay or restore to the Partnership all or a portion of the amount received if such distributions cause the fair market value of the Partnership’s 's assets to be less than the Partnership’s 's liabilities. Subject to the foregoing requirement, the Limited Partner shall not be required to pay to the Partnership or to any other Partner any deficit or negative balance which may exist from time to time in its Capital Account; provided, however, in the event the Limited Partner erroneously receives distributions in excess of his interest in such distributions as specified in Sections 4.1, 4.2 and 4.3 hereof (“"Excess Distributions”"), then, as between the Partners but not for the benefit of other Persons, such Partner shall be indebted to the Partnership for such Excess Distributions, and such indebtedness shall be payable on terms or on demand as may be prescribed by the General Partner. The General Partner shall contribute, prior to the dissolution and liquidation of the Partnership, an amount equal to the lesser of (a) an amount which will cause the total Capital Contributions made by the General Partner during the Partnership Term to equal one percent (1%) of the total Capital Contributions made to the Partnership (including the Capital Contribution to be made by the General Partner pursuant to this Section 5.5), or (b) the deficit balance in its Capital Account as of the date of such dissolution and liquidation.

Obligation to Repay or Restore. If the Limited Partner has received distributions of Net Cash Flow or Net Proceeds of a Capital Transaction, it may be obligated under the Act to repay or restore to the Partnership all or a portion of the amount received if such distributions cause the fair market value of the Partnership’s 's assets to be less than the Partnership’s 's liabilities. Subject to the foregoing requirement, the Limited Partner shall not be required to pay to the Partnership or to any other Partner any deficit or negative balance which may exist from time to time in its Capital Account; provided, however, in the event the Limited Partner erroneously receives distributions in excess of his interest in such distributions as specified in Sections 4.1, 4.2 and 4.3 hereof (“"Excess Distributions”"), then, as between the Partners but not for the benefit of other Persons, such Partner shall be indebted to the Partnership for such Excess Distributions, and such indebtedness shall be payable on terms or on demand as may be prescribed by the General Partner. The General Partner shall contribute, prior to the dissolution and liquidation of the Partnership, an amount equal to the lesser of (a) an amount which will cause the total Capital Contributions made by the General Partner during the Partnership Term to equal one-tenth of one percent (1.1%) of the total Capital Contributions made to the Partnership (including the Capital Contribution to be made by the General Partner pursuant to this Section 5.5), or (b) the deficit balance in its Capital Account as of the date of such dissolution and liquidation.

Obligation to Repay or Restore. If the Limited Partner has received distributions of Net Cash Flow or Net Proceeds of a Capital Transaction, it may be obligated under the Act to repay or restore to the Partnership all or a portion of the amount received if such distributions cause the fair market value of the Partnership’s 's assets to be less than the Partnership’s 's liabilities. Subject to the foregoing requirement, the Limited Partner shall not be required to pay to the Partnership or to any other Partner any deficit or negative balance which may exist from time to time in its Capital Account; provided, however, in the event the Limited Partner erroneously receives distributions in excess of his interest in such distributions as specified in Sections 4.1, 4.2 and 4.3 hereof (“"Excess Distributions”"), then, as between the Partners but not for the benefit of other Persons, . such Partner shall be indebted to the Partnership for such Excess Distributions, and such indebtedness shall be payable on terms or on demand as may be prescribed by the General Partner. The General Partner shall contribute, prior to the dissolution and liquidation of the Partnership, an amount equal to the lesser of (a) an amount which will cause the total Capital Contributions made by the General Partner during the Partnership Term to equal one percent (1%) of the total Capital Contributions made to the Partnership (including the Capital Contribution to be made by the General Partner pursuant to this Section 5.5), or (b) the deficit balance in its Capital Account as of the date of such dissolution and liquidation.