Other Contribution Provisions. If any Partner is admitted to the Partnership and is given a positive Capital Account balance in exchange for services rendered to the Partnership, such transaction shall be treated by the Partnership as if the Partnership had compensated such Partner in cash, and such Partner had contributed such cash to the capital of the Partnership.
Appears in 4 contracts
Sources: Limited Partnership Agreement (DiamondRock Hospitality Co), Agreement of Limited Partnership (Macerich Co), Limited Partnership Agreement (DiamondRock Hospitality Co)
Other Contribution Provisions. If any Partner is admitted to the Partnership and is given a positive Capital Account balance in exchange for services rendered to the Partnership or to the General Partner on behalf of the Partnership, such transaction shall be treated by the Partnership and the affected Partner as if the Partnership had compensated such Partner in cash, and such the Partner had contributed such cash to the capital of the Partnership.
Appears in 2 contracts
Sources: Limited Partnership Agreement (Burnham Pacific Properties Inc), Limited Partnership Agreement (National Health Realty Inc)
Other Contribution Provisions. If any Partner is admitted to the Partnership and is given a positive Capital Account balance in exchange for properties, securities or other noncash contributions or services rendered to the Partnership, such transaction transactions shall be treated by the Partnership and the affected Partner as if the Partnership had compensated such Partner in cash, and such Partner had contributed such cash to the capital of the Partnership.
Appears in 1 contract
Sources: Limited Partnership Agreement (Monarch Properties Inc)
Other Contribution Provisions. If In the event that any Partner is admitted to the Partnership and is given a positive Capital Account balance in exchange for services rendered to the Partnership, such transaction shall be treated by the Partnership and the affected 28 Partner as if the Partnership had compensated such Partner in cashcash for the fair market value of such services, and such the Partner had contributed such cash to the capital of the Partnership.
Appears in 1 contract
Sources: Limited Partnership Agreement (Vornado Realty Trust)
Other Contribution Provisions. If In the event that any Partner is admitted to the Partnership and is given a positive Capital Account balance in exchange for services rendered to the Partnership, such transaction shall be treated by the Partnership and the affected Partner as if the Partnership had has compensated such Partner in cashcash for the fair market value of such services, and such the Partner had contributed such cash to the capital of the Partnership.
Appears in 1 contract
Sources: Limited Partnership Agreement (Cornerstone Properties Inc)