Liability Shortfall definition

Liability Shortfall has the meaning set forth in subparagraph 4(d) of Exhibit B.

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Liability Shortfall shall have the meaning set forth in Section 6.05(e).

Liability Shortfall has the meaning set forth in Section 5.1(i)(iv) hereof. “LIMITED PARTNER” means any Person named as a Limited Partner on Exhibit A attached hereto and any Person who becomes a Substitute Limited Partner, in such Person’s capacity as a Limited Partner in the Partnership.

Examples of Liability Shortfall in a sentence

If there is an insufficient amount of nonrecourse liabilities to allocate to each Partner an amount of nonrecourse liabilities equal to the Liability Shortfall, then an amount of nonrecourse liabilities in proportion to, and to the extent of, the Liability Shortfall shall be allocated to each Partner.
In the event there is an insufficient amount of nonrecourse liabilities to allocate to each Partner an amount of nonrecourse liabilities equal to the Liability Shortfall, then an amount of nonrecourse liabilities in proportion to, and to the extent of, the Liability Shortfall shall be allocated to each Partner.
If there is an insufficient amount of nonrecourse liabilities to be able to allocate to each Partner nonrecourse liabilities equal to the Liability Shortfall, nonrecourse liabilities shall be allocated to each Partner in pro rata in accordance with each such Partner’s Liability Shortfall.
If there is an insufficient amount of nonrecourse liabilities to be able to allocate to each Member nonrecourse liabilities equal to the Liability Shortfall, nonrecourse liabilities shall be allocated to each Member in pro rata in accordance with each such Member’s Liability Shortfall.
In the event there is an insufficient amount of nonrecourse liabilities to allocate to each Partner an amount of nonrecourse liabilities equal to the Liability Shortfall, then an amount of nonrecourse liabilities to the extent of, the Liability Shortfall shall be allocated to the Upper Tier Limited Partnership.
The amount of the Adjustment Liability Shortfall so contributed shall not be treated as a Capital Contribution for purposes of the Agreement and the associated remittance to the taxing authority shall not be treated as a distribution for purposes of the Agreement.
Each Member agrees to provide for an exception to the limited liability of its partners or members under its organizational documents to the extent that such Member is responsible for an Adjustment Tax Liability Shortfall of the Company.
To the extent the Tax Distributions made to the Members of the Company for the Company's 1997 fiscal year through the last Business Day immediately preceding the date of Closing are less than the Tax Liability (the "Tax Liability Shortfall"), upon receipt from the Accountants of their determination of the Tax Liability, Buyer shall cause to be distributed to the Company or the Members of the Company, the Tax Liability Shortfall.
If there is an insufficient amount of nonrecourse liabilities to allocate to each Partner an amount of nonrecourse liabilities equal to the Liability Shortfall, then an amount of nonrecourse liabilities to the extent of, the Liability Shortfall shall be allocated to the Limited Partner.
If the Partnership Representative determines at any time that the Adjustment Liability with respect to a particular Member (or former Member) exceeds the amount of distributions or other amounts payable to such Member (or former Member) at such time (an “Adjustment Tax Liability Shortfall”), the Member (or former Member) in question shall contribute an amount equal to such Adjustment Tax Liability Shortfall to the Company within 10 days of notice to the Member (or former Member).

More Definitions of Liability Shortfall

Liability Shortfall has the meaning set forth in Section 5.01(f)(iv). “Limited Partner” means any Person named as a Limited Partner on Exhibit A attached hereto, as it may be amended or restated from time to time, and any Person who becomes a Substitute Limited Partner or any additional Limited Partner, in such Person’s capacity as a limited partner in the Partnership.

Liability Shortfall has the meaning set forth in Section 5.1(i)(iv) hereof.

Liability Shortfall has the meaning set forth in subparagraph 4(d) of Exhibit A. “Lien” means any lien, security interest, mortgage, deed of trust, charge, claim, encumbrance, pledge, option, right of first offer or first refusal and any other right or interest of others of any kind or nature, actual or contingent, or other similar encumbrance of any nature whatsoever.