Other Allocations Upon Change in Law. In the event that the Code or any Regulations require allocations of items of income, gain, loss, deduction or credit different from those set forth in this Article 6, the General Partner is hereby authorized to make new allocations in reliance on the Code and such Regulations, such new allocations shall be deemed to be made pursuant to the fiduciary duty of the General Partner to the Partnership and the other Holders, and no such new allocation shall give rise to any claim or cause of action by any Holder.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (New Plan Excel Realty Trust Inc), Agreement of Limited Partnership (Excel Realty Trust Inc)
Other Allocations Upon Change in Law. In the event that the Code or any Regulations require allocations of items of income, gain, loss, deduction or credit different from those set forth in this Article 6, the General Partner is hereby authorized to make new allocations in reliance on the Code and such Regulations, such new allocations shall be deemed to be made pursuant to the fiduciary duty of the General Partner to the Partnership and the other Holders, and no such new allocation shall give rise to any claim or cause of action by any HolderPartner.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Koger Equity Inc), Limited Partnership Agreement (CRT Properties Inc)
Other Allocations Upon Change in Law. In the event that the Code or any Regulations require allocations of items of income, gain, loss, deduction or credit different from those set forth in this Article 6, the General Partner is hereby authorized to make new allocations in reliance on the Code and such Regulations, such new allocations shall be deemed to be made pursuant to the fiduciary duty of the General Partner to the Partnership and the other HoldersPartners, and no such new allocation shall give rise to any claim or cause of action by any HolderPartner.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Excel Realty Trust Inc), Limited Partnership Agreement (Price Reit Inc)
Other Allocations Upon Change in Law. In the event that the Code or any Regulations require allocations of items of income, gain, loss, deduction or credit different from those set forth in this Article 6, the General Partner is hereby authorized to make new allocations in reliance on the Code and such Regulations, such new allocations shall be deemed to be made effected pursuant to the fiduciary duty of the General Partner to the Partnership and the other Holders, and no such new allocation shall give rise to any claim or cause of action by any HolderPartners.
Appears in 1 contract
Samples: Limited Partnership Agreement (Cornerstone Realty Income Trust Inc)
