Common use of Initial Expenses Clause in Contracts

Initial Expenses. Each Partner shall bear its own legal and related expenses pertaining to the negotiation of this arrangement and the creation of the Partnership. The fees and costs of Florida and Delaware counsel and any others incurred in connection with transferring any partnership interest to the Partnership and otherwise in connection with formation of, and setting up of, the Partnership shall be a Partnership expense (except and to the extent incurred in connection with giving advice to one Partner or the other for its personal benefit in which case the Partner receiving the advice shall be responsible for such fees and costs.)