Common use of General Partner Loans Clause in Contracts

General Partner Loans. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness to the General Partner or its Affiliates (a “General Partner Loan”) if such indebtedness is on terms and conditions no less favorable to the Partnership than would be available to the Partnership from any third party; provided, however, that the Partnership shall not incur any such indebtedness if (a) a breach, violation or default of such indebtedness would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (b) such indebtedness is recourse to any Partner (unless the applicable Partner otherwise agrees).

General Partner Loans. The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur indebtedness to the General Partner or its Affiliates (a “General Partner Loan”) if such indebtedness is on terms and conditions no less favorable to the Partnership than would be available to the Partnership from any third party; provided, however, that the Partnership shall not incur any such indebtedness if (a) a breach, violation or default of such indebtedness would be deemed to occur by virtue of the Transfer by any Limited Partner of any Partnership Interest, or (b) such indebtedness is recourse to any Partner (unless the applicable Partner otherwise agrees).;