Common use of Indemnification of the Partnership and the Limited Partners Clause in Contracts

Indemnification of the Partnership and the Limited Partners. (a) The General Partner will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences which the Partnership or any Limited Partner may incur by reason of (i) the past, present or future actions or omissions of the General Partner or any of its Affiliates constituting gross negligence or willful misconduct, or (ii) any liabilities to which either the Partnership or the Apartment Complex is subject other than (x) any Mortgage or (y) necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 5 contracts

Samples: Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp

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Indemnification of the Partnership and the Limited Partners. (a) The General Partner Partners will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences losses, damages and liabilities which the Partnership or any Limited Partner may incur by reason of the (ia) the past, present or future actions or omissions of the General Partner or any of its Affiliates constituting gross negligence or willful misconducttheir Affiliates, or (iib) any liabilities to which either the Partnership or the Apartment Complex is subject other than subject; provided, however, that the foregoing indemnification shall not apply to (xi) any Mortgage or (yii) necessary contractual obligations incurred pursuant to the RECD requirements of any Agency or Lender in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 3 contracts

Samples: Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp

Indemnification of the Partnership and the Limited Partners. (a) The General Partner Partners will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences losses, damages and liabilities which the Partnership or any Limited Partner may incur by reason of the (ia) the past, present or future actions or omissions of the General Partner Partners or any of its Affiliates constituting gross negligence or willful misconducttheir Affiliates, or (iib) any liabilities to which either the Partnership or the Apartment Complex is subject other than subject; provided, however, that the foregoing indemnification shall not apply to (xi) any Mortgage or (yii) necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender requirements in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 3 contracts

Samples: Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp

Indemnification of the Partnership and the Limited Partners. (a) The General Partner Partners will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences losses, damages and liabilities which the Partnership or any Limited Partner may incur by reason of the (ia) the past, present or future actions or omissions of the General Partner Partners or any of its Affiliates constituting gross negligence or willful misconducttheir Affiliates, or (iib) any liabilities to which either the Partnership or the Apartment Complex is subject other than subject; provided, however, that the foregoing indemnification shall not apply to (xi) any Mortgage the Mortgages or (yii) necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender requirements in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 3 contracts

Samples: Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp

Indemnification of the Partnership and the Limited Partners. (a) The General Partner will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences which the Partnership or any Limited Partner may incur by reason of (i) the past, present or future actions or omissions of the General Partner or any of its Affiliates constituting gross negligence or willful misconduct, or (ii) any liabilities to which either the Partnership or the Apartment Complex is subject other than (x) any Mortgage or (y) any payables or necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 3 contracts

Samples: Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp

Indemnification of the Partnership and the Limited Partners. (a) The General Partner will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences which the Partnership or any Limited Partner may incur by reason of (i) the past, present or future actions or omissions of the General Partner or any of its Affiliates constituting gross negligence or willful misconduct, or (ii) any liabilities to which either the Partnership or the Apartment Complex is subject other than (x) any Mortgage Loan Documents or (y) any payables or necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

Indemnification of the Partnership and the Limited Partners. (a) The General Partner Partners will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences losses, damages and liabilities which the Partnership or any Limited Partner may incur by reason of the (ia) the past, present or future actions or omissions of the General Partner Partners or any of its Affiliates constituting gross negligence or willful misconducttheir Affiliates, or (iib) any liabilities to which either the Partnership or the Apartment Complex is subject other than subject; provided, however, that the foregoing indemnification shall not apply to (xi) any Mortgage or (yii) necessary contractual obligations incurred pursuant to the requirements of any Agency Authority or Lender requirements in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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Indemnification of the Partnership and the Limited Partners. (a) The General Partner will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences which the Partnership or any Limited Partner may incur by reason of (i) the past, present or future actions or omissions of the General Partner or any of its Affiliates constituting gross negligence or willful misconduct, or (ii) any liabilities to which either the Partnership or the Apartment Complex is subject other than (x) any Mortgage Loan Document or (y) any payables or necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

Indemnification of the Partnership and the Limited Partners. (a) The General Partner Partners will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences losses, damages and liabilities which the Partnership or any Limited Partner may incur by reason of the (ia) the past, present or future actions or omissions of the General Partner Partners or any of its Affiliates constituting gross negligence or willful misconducttheir Affiliates, or (iib) any liabilities to which either the Partnership or the Apartment Complex is subject other than subject; provided, however, that the foregoing indemnification shall not apply to (xi) any Mortgage or (yii) necessary contractual obligations incurred pursuant to the Lender requirements of any Agency or Lender in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 1 contract

Samples: Consent and Agreement (Boston Capital Tax Credit Fund Iv Lp)

Indemnification of the Partnership and the Limited Partners. (a) The General Partner Partners will indemnify and hold the Partnership and the Limited Partners harmless from and against any and all Adverse Consequences losses, damages and liabilities which the Partnership or any Limited Partner may incur by reason of the (ia) the past, present or future actions or omissions of the General Partner or any of its Affiliates constituting gross negligence or willful misconducttheir Affiliates, or (iib) any liabilities to which either the Partnership or the Apartment Complex is subject other than subject; provided, however, that the foregoing indemnification shall not apply to (xi) any Mortgage or (yii) necessary contractual obligations incurred pursuant to the requirements of any Agency or Lender requirements in connection with the operation of the Apartment Complex in the ordinary course of business.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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