Common use of Single Asset Entity Clause in Contracts

Single Asset Entity. 15.1 Except as may be provided to the contrary in the Cross-Collateralization Agreements, the Partnership shall at all times conduct its business and operations in accordance with the following provisions so as to maintain itself as a single purpose entity: 15.1.1 The Partnership will not assume liability for the debts of any other person, and the Partnership will not hold itself out as being liable for the debts of any other person; 15.1.2 None of the liabilities of the Partnership shall be paid from the funds of the Partners or any other person without the Partners being obligated for such liabilities; 15.1.3 The Partnership shall not guarantee the debt or the performance of any obligation of any of its Partners or any other person; 15.1.4 The Partnership will not pledge any of its assets for the benefit of any of its Partners or any other person, and no person shall pledge its assets for the benefit of the Partnership;

Single Asset Entity. 15.1 Except as may be provided to the contrary in the Cross-Collateralization Agreements, the Partnership shall at all times tunes conduct its business and operations in accordance with the following provisions so as to maintain itself as a single purpose entity: 15.1.1 The Partnership will not assume liability for the debts of any other person, and the Partnership will not hold itself out as being liable for the debts of any other person; 15.1.2 None of the liabilities of the Partnership shall be paid from the funds of the Partners or any other person without the Partners being obligated for such liabilities; 15.1.3 The Partnership shall not guarantee the debt or the performance of any obligation of any of its Partners or any other person; 15.1.4 The Partnership will not pledge any of its assets for the benefit of any of its Partners or any other person, and no person shall pledge its assets for the benefit of the Partnership;