Common use of No Obligation to Consider Tax Consequences to Limited Partners Clause in Contracts

No Obligation to Consider Tax Consequences to Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner of any action taken by it. The General Partner and the Partnership shall not have liability to a Limited Partner under any circumstances as a result of an income tax liability incurred by such Limited Partner as a result of an action (or inaction) by the General Partner pursuant to its authority under this Agreement.

No Obligation to Consider Tax Consequences to Limited Partners. In exercising its their authority under this Agreement, the General Partner and the Special General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner of any action taken by it. The General Partner, the Special General Partner and the Partnership shall not have liability to a Limited Partner under any circumstances as a result of an income tax liability incurred by such Limited Partner as a result of an action (or inaction) by the General Partner or the Special General Partner pursuant to its their authority under this Agreement.this

No Obligation to Consider Tax Consequences to Limited Partners. In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to, take into account the tax consequences to any Partner of any action taken by it. The General Partner and the Partnership shall not have liability to a the Limited Partner Partners under any circumstances as a result of an income tax liability incurred by such the Limited Partner Partners as a result of an action (or inaction) by the General Partner pursuant to its authority under this Agreement.