Common use of Withdrawals by the General Partner Clause in Contracts

Withdrawals by the General Partner. The General Partner and the Principal may, as of the last day of each fiscal quarter, withdraw all or a portion of the balance in its Capital Account as of the Withdrawal Date; except that the General Partner may at any time withdraw a portion of its Capital Account(s) equal to the amount of the aggregate Incentive Allocations allocated to its Capital Account (as adjusted for any appreciation or depreciation thereon); provided, however, that prior to any withdrawal not made as of the last day of a fiscal quarter upon at least 65 days' prior written notice, the General Partner shall consult with counsel to the Partnership to ensure that such withdrawal will not cause the Partnership to be treated as a "publicly traded partnership" taxable as a corporation for U.S. federal tax purposes.

Withdrawals by the General Partner. The General Partner and the Principal may, as of the last day of each fiscal quarter, withdraw all or a portion of the balance in its Capital Account as of the Withdrawal Date; except that the General Partner may at any time withdraw a portion of its Capital Account(s) Account equal to the amount of the aggregate Incentive Allocations allocated to its Capital Account (as adjusted for any appreciation or depreciation thereon); provided, however, that prior to any withdrawal not made as of the last day of a fiscal quarter upon at least 65 days' ’ prior written notice, the General Partner shall consult with counsel to the Partnership to ensure that such withdrawal will not cause the Partnership to be treated as a "“publicly traded partnership" ” taxable as a corporation for U.S. federal tax purposes.