Partner Expenses definition
Examples of Partner Expenses in a sentence
General Partner will bear and be charged with all General Partner Expenses.
As between the General Partner, on the one hand, and the Partnership, on the other hand, the General Partner shall be solely responsible for and shall pay all General Partner Expenses pursuant to this Agreement.
To the extent, if any, that General Partner Expenses and any items of loss, expense or deduction resulting therefrom are deemed to constitute items of Partnership loss or deduction rather than items of loss, or deduction of the General Partner, such General Partner Expenses and other items of loss, expense or deduction shall be allocated 100% to the General Partner and the General Partner’s Capital Account shall be credited with the same amount.
Notwithstanding anything herein to the contrary, no costs or expenses payable by the Owner of any Property under the terms of the Property Services Agreement entered into with respect to such Property shall be deemed Managing General Partner Expenses.
The General Partner represents that, except as permitted by Section 7.4, its sole business is the ownership of direct and indirect interests in and operation of the Partnership and as such all of the General Partner Expenses will be incurred for the benefit of the Partnership.
The Partners agree that the General Partner Expenses shall be deemed to be incurred on behalf of the Partnership.
The expenses that the General Partner is obligated or elects to pay under this Section 7.1 are collectively referred to herein as the "General Partner Expenses".
As between the General Partner and the Partnership, the General Partner shall be solely responsible for and shall pay all General Partner Expenses.
Notwithstanding anything herein to the contrary, no costs or expenses payable by the Owner of any Property under the terms of the Property Services Agreement entered into with respect to such Property shall be deemed General Partner Expenses.
To the extent, if any, that General Partner Expenses and any items of loss, expense or deduction resulting therefrom are deemed to constitute items of Partnership loss or deduction rather than items of loss or deduction of the General Partner, such General Partner Expenses and other items of loss, expense or deduction shall be allocated 100% to the General Partner.