Common use of Operating Policies Clause in Contracts

Operating Policies. The operations and affairs of the Partnership shall be conducted in accordance with the following policies, the whole subject to the investment guidelines above. For the purpose of these policies, the assets, liabilities and transactions of a corporation, trust or other entity wholly or partially owned by the Partnership (an “investee”) will be deemed to be those of the Partnership on a proportionate consolidated basis. In applying these guidelines, the Partnership will cause each investee to adhere to operating policies, and the Partnership will otherwise manage its investments in its investees, such that it shall remain in compliance with the operating policies. In addition, any references in the below guidelines to investment in real property will be deemed to include an investment in a joint venture:

Operating Policies. ‌ The operations and affairs of the Partnership shall be conducted in accordance with the following policies, the whole subject to the investment guidelines above. For the purpose of these policies, the assets, liabilities and transactions of a corporation, trust or other entity wholly or partially owned by the Partnership (an “investee”) will be deemed to be those of the Partnership on a proportionate consolidated basis. In applying these guidelines, the Partnership will cause each investee to adhere to operating policies, and the Partnership will otherwise manage its investments in its investees, such that it shall remain in compliance with the operating policies. In addition, any references in the below guidelines to investment in real property will be deemed to include an investment in a joint venture: