Partnership Liabilities Sample Clauses

Partnership Liabilities. Except as set forth on Schedule 3.10, the Seller has not entered into any contract or agreement on behalf of the Partnerships, or bound any of the Partnerships to any obligations other than with the consent of the Purchaser or a co-general partner of an applicable Partnership.

Partnership Liabilities. 2.1 All obligations and liabilities owing to the Licensee now or in the future under or in respect of this Agreement are incurred as an obligation and liability of the Partnership and as an obligation and liability of the Partners (jointly and severally) in their personal capacities. 2.2 Any Partner may exercise the rights and perform the obligations conferred on the Representative by this Agreement and in doing so will be taken to be acting for and on behalf of the Partnership and to have been so authorised by the Partnership. 2.3 Any action approval, consent or agreement given or granted under this Agreement is done so with the Authorisation of each Partner. 2.4 The Licensee is not required to provide a Partner with a release from the Partner's obligations under this Agreement but if it decides to do so, it will be provided on terms acceptable to the Licensee in its absolute discretion and it need not obtain the consent of any of the Partners prior to providing the release. 2.5 To the extent that this Agreement is inconsistent with any provision of the Partnership Agreement then this Agreement prevails to that extent.

Partnership Liabilities. Except for (i) the obligations and liabilities of the H/SIC Partnership which the UPREIT is taking the H/SIC Partnership Interests subject to under Section 7(d) above, and (ii) any accrued liabilities and obligations of the H/SIC Partnership which are being adjusted at Closing pursuant to Section 22(d) of this Agreement, the H/SIC Partnership shall not have any liabilities or obligations, either accrued, absolute or contingent or otherwise, which will not be paid or discharged on or before the Closing Date. In addition, except for the claims and liabilities described in the preceding sentence or otherwise described or disclosed in this Agreement (including the Exhibits hereto), the H/SIC Partnership has not received notice of any, and to the knowledge of the H/SIC General Partner, there is, as of the date of execution of this Agreement, no basis for any, claim against (or liability of) the Partnership arising from the business done, transactions entered into or other events occurring prior to the Closing Date which will not be discharged by the H/SIC Partnership before the Closing Date.

Partnership Liabilities. It is the intention of the Sellers and Purchaser that, notwithstanding the fact that Purchaser is purchasing the Membership Interests, Purchaser shall not be obligated to pay or discharge any liabilities or other obligations which Purchaser would not assume or be liable for if Purchaser were purchasing the fee interest in the Property instead of the Membership Interests.

Partnership Liabilities. The Partners shall be liable for all obligations of the Partnership in proportion to their respective Partnership Interests. If any Partner is required to pay more than his proportionate share, he shall be entitled to contribution from the other Partners in proportion to their respective Partnership Interests.

Partnership Liabilities. The General Partner will have no liability for the return of the Partners' capital contributions. All liabilities of the Partnership, including without limitation indemnity obligations under Section 4.7, will be liabilities of the Partnership as an entity, and will be paid or satisfied from Partnership assets. No liability of the Partnership will be payable in whole or in part by any Partner in his capacity as a Partner (other than the General Partner and then only in its capacity as such, as determined by a nonappealable order of a court of competent jurisdiction and subject to Section 4.7) or by any partner, shareholder, director, officer, agent or advisor of any Partner or Affiliate.

Partnership Liabilities. (a) As approved by the Management Committee the Partnership shall establish and maintain a risk management program. (b) If the Partnership should purchase insurance for any reason, all original policies of insurance or copies thereof shall be maintained at the Principal Office of the Partnership and be available for review by the Partners. (c) Recoveries, judgments, settlements, damages, or liabilities against the Partnership which arise as a result of incidents, actions or occurrences which are covered by policies procured by the Partnership and which are in amounts in excess of the insurance policy limits of those policies or which are not covered by insurance shall be allocated to the Partners in proportion to their respective Ownership Percentages as of the date of the incident, action or occurrence giving rise to such recovery or settlement. The liability of each Partner with respect to such amounts shall be individual and not joint. Each Partner hereby indemnifies and holds the other Partner harmless for the indemnitor’s allocated liability pursuant to this Section. Ownership Percentages shall not be adjusted for any amounts paid by either Partner pursuant to this Section. (d) The Partnership shall notify the Partners of each claim, suit or action asserted or filed against the Partnership.

Partnership Liabilities. Except for (i) the obligations and liabilities of the Partnership which FWRLP is taking the Partnership Interests subject to under Section 2 (c) above, and (ii) any accrued liabilities and obligations of the Partnership which are being adjusted at Closing pursuant to Section 12 of this Agreement pursuant to Service Contracts set forth on Exhibit C hereto, the Partnership shall not have any liabilities or obligations, either accrued, absolute or contingent or otherwise, which will not be paid or discharged on or before the Closing Date. In addition, the Partnership has not received notice of any, and to the best of the knowledge of the Contributors, there is, as of the date of execution of this Agreement, no basis for any, claim against (or liability of) the Partnership arising from the business done, transactions entered into or other events occurring prior to the Closing Date other than the obligations and liabilities described in the preceding sentence.

Partnership Liabilities. Except for (i) the obligations and liabilities of the Partnership which FWRLP is taking the Partnership Interests subject to under Section 2 (c) above, (ii) any accrued liabilities and obligations of the Partnership which are being adjusted at Closing pursuant to Section 12 of this Agreement, (iii) contingent leasing commissions for which FWRLP agrees to be liable pursuant to Section 9(a)(vi) of this Agreement, and (iv) matters disclosed or referred to in the Exhibits attached hereto, to the best of Contributors' knowledge, the Partnership does not have any liabilities or obligations, either accrued, absolute or contingent or otherwise, which will not be paid or discharged on or before the Closing Date. In addition, the Partnership has not received notice of any, and to the best of the knowledge of such Contributor, there is, as of the date of execution of this Agreement, no basis for any, claim against (or liability of) the Partnership arising from the business done, transactions entered into or other events occurring prior to the Closing Date other than the obligations and liabilities described in the preceding sentence.

Partnership Liabilities. Except for (i) the obligations and liabilities of the Partnership which FWRLP is taking the Partnership Interests subject to under Section 2 (b) above, (ii) the Service Contracts, Leases and other contractual obligations which FWRLP is acquiring the Partnership Interests subject to pursuant to this Agreement, and (iii) any liabilities and obligations of the Partnership which are being