Allocation of Excess Nonrecourse Liabilities. The Partnership shall allocate “nonrecourse liabilities” (within the meaning of Regulations Section 1.752-1(a)(2)) of the Partnership that are secured by multiple Properties under any reasonable method chosen by the General Partner in accordance with Regulations Section 1.752-3(a)(3)(b). The Partnership shall allocate “excess nonrecourse liabilities” of the Partnership under any method approved under Regulations Section 1.752-3(a)(3) as chosen by the General Partner. For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s interest in Partnership profits shall be equal to such Holder’s share of Partnership Units.
Appears in 9 contracts
Samples: Agreement (Arizona Land Income Corp), Agreement (Arizona Land Income Corp), Agreement (Arizona Land Income Corp)
Allocation of Excess Nonrecourse Liabilities. The Partnership shall allocate “nonrecourse liabilities” (within the meaning of Regulations Section 1.752-1(a)(2)) of the Partnership that are secured by multiple Properties under any reasonable method chosen by the General Partner in accordance with Regulations Section 1.752-3(a)(3)(b). The Partnership shall allocate “excess nonrecourse liabilities” of the Partnership under any method approved under Regulations Section 1.752-3(a)(3) as 39 chosen by the General Partner. For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s interest in Partnership profits shall be equal to such Holder’s share of Partnership Units.
Appears in 2 contracts
Samples: Agreement (Pacific Office Properties Trust, Inc.), Agreement (Pacific Office Properties Trust, Inc.)
Allocation of Excess Nonrecourse Liabilities. The Partnership shall allocate “"nonrecourse liabilities” " (within the meaning of Regulations Section 1.752-1(a)(2)) of the Partnership that are secured by multiple Properties under any reasonable method chosen by the General Partner in accordance with Regulations Section 1.752-3(a)(3)(b). The Partnership shall allocate “"excess nonrecourse liabilities” " of the Partnership under any method approved under Regulations Section 1.752-3(a)(3) as chosen by the General Partner. For purposes of determining a Holder’s 's proportional share of the “"excess nonrecourse liabilities” " of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s 's interest in Partnership profits shall be equal to such Holder’s 's share of Partnership Units.
Appears in 2 contracts
Samples: Arbor Realty Trust Inc, Arbor Realty Trust Inc
Allocation of Excess Nonrecourse Liabilities. The Partnership shall allocate “"nonrecourse liabilities” " (within the meaning of Regulations Section 1.752-1(a)(2)) of the Partnership that are secured by multiple Properties under any reasonable method chosen by the General Partner in accordance with Regulations Section 1.752-1.752- 3(a)(3)(b). The Partnership shall allocate “"excess nonrecourse liabilities” " of the Partnership under any method approved under Regulations Section 1.752-3(a)(3) as chosen by the General Partner. For purposes of determining a Holder’s 's proportional share of the “"excess nonrecourse liabilities” " of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s 's interest in Partnership profits shall be equal to such Holder’s 's share of Partnership Units.
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