Common use of Excess Nonrecourse Liability Safe Harbor Clause in Contracts

Excess Nonrecourse Liability Safe Harbor. Pursuant to Section 1.752-3(a)(3) of the Regulations, solely for purposes of determining each Partner’s proportionate share of the “excess nonrecourse liabilities” of the Partnership (as defined in Section 1.752-3(a)(3) of the Regulations), the Partners’ respective interests in Partnership profits shall be determined under any permissible method reasonably determined by the General Partner.

Excess Nonrecourse Liability Safe Harbor. Pursuant to Section Regulations Sec tion 1.752-3(a)(3) of the Regulations), solely for purposes of determining each Partner’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Partnership (as defined in Regulations Section 1.752-1.752- 3(a)(3) of the Regulations)), the Partners’ ' respective interests in Partnership profits shall be determined under any permissible method reasonably determined by the General in accordance with each Partner.'s Percentage Interest; provided, however, that each Partner who has contributed