Common use of Indemnity for Breaches of Section 1 Clause in Contracts

Indemnity for Breaches of Section 1. 9(b). In the event that the Operating Partnership breaches its obligations to a Contributor set forth in Section 1.9(b), such Contributor shall receive from the Operating Partnership as damages an amount equal to the aggregate federal, state and local income taxes incurred by such Contributor as a result of the gain recognized by such Contributor by reason of such breach plus an additional amount so that, after the payment by such Contributor of all taxes on amounts received pursuant to this Section 1.9(c), such Contributor retains an amount equal to its total tax liability incurred as a result of such breach. The Operating Partnership shall be considered to have satisfied its obligations under Section 1.9(b), and therefore shall have no liability under this Section 1.9(c) for breach of