Common use of Partnership Borrowing Clause in Contracts

Partnership Borrowing. (a) The General Partner may cause the Partnership to borrow money from time to time, from third parties or from the General Partner, and may mortgage or pledge Partnership property to obtain and secure the repayment of such loans. The proceeds of Partnership loans may be used for any Partnership purpose.

Partnership Borrowing. (a) The General Partner may cause the Partnership to borrow money from time to time, from third parties or from the General a Partner, and may mortgage or pledge Partnership property to obtain and secure the repayment of such loans. The proceeds of Partnership loans may be used for any Partnership purpose, including the payment of the costs of operations or the refinancing of Partnership indebtedness. The Partnership may borrow from third parties or a Partner, including the General Partner. A Partner is not, however, obligated to lend funds to the Partnership.