Limited Liability of Limited Partners. The parties acknowledge that each of BPY and the Property Partnership is a limited partnership, a limited partner of which is liable for any liabilities or losses of the relevant partnership only to the extent of the amount that such limited partner has contributed, or agreed to contribute, to the capital of the relevant partnership and such limited partner’s pro rata share of any undistributed income.
Appears in 8 contracts
Samples: Master Services Agreement (Brookfield Property Partners L.P.), Master Services Agreement (Brookfield Property Partners L.P.), Master Services Agreement (Brookfield Property Partners L.P.)
Limited Liability of Limited Partners. The parties acknowledge Trust acknowledges that each of BPY and the Property Partnership is a limited partnership, a limited partner of which is liable for any liabilities or losses of the relevant partnership only to the extent of the amount that such limited partner has contributed, or agreed to contribute, to the capital of the relevant partnership and such limited partner’s pro rata share of any undistributed income.
Appears in 3 contracts
Samples: Redemption Agreement (Brookfield Property Partners L.P.), Redemption Agreement (Brookfield Canada Office Properties), Redemption Agreement (Brookfield Asset Management Inc.)
Limited Liability of Limited Partners. The parties acknowledge that each of BPY and the Property Partnership is a limited partnership, a limited partner of which is liable for any liabilities or losses of the relevant partnership only to the extent of the amount that such limited partner has contributed, or agreed to contribute, to the capital of the relevant partnership and such limited partner’s 's pro rata share of any undistributed income.
Appears in 1 contract
Samples: Master Services Agreement (Brookfield Property Partners L.P.)
