Common use of Reserves Clause in Contracts

Reserves. (a) The General Partner may cause appropriate reserves to be created, accrued and charged by the Partnership against Net Assets and proportionately against the Capital Accounts of the Partners for contingent liabilities, if any, as of the date any contingent liability becomes known to the General Partner, the reserves to be in the amounts that the General Partner in its sole discretion deems necessary or appropriate. The General Partner may increase or reduce any reserves from time to time by amounts as it in its sole discretion deems necessary or appropriate. The amount of any reserve, or any increase or decrease in a reserve, will be proportionately charged or credited to the Capital Accounts of those Persons who or that are Partners at the time the reserve is created, or increased or decreased, except that if any individual reserve item, adjusted by any increase in the item, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units of all of those Partners, then the amount of the reserve, increase or decrease may instead, at the discretion of the General Partner, be charged or credited to the Capital Accounts of those Persons who or that were Partners at the time, as determined by the General Partner in its sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital Accounts.

Reserves. (a) The General Partner may cause appropriate reserves to be created, accrued and charged by the Partnership against Net Assets and proportionately against the Capital Accounts of the Partners for contingent liabilities, if any, as of the date any contingent liability becomes known to the General Partner, the reserves to be in the amounts that the General Partner in its sole discretion deems necessary or appropriate. The General Partner may increase or reduce any reserves from time to time by amounts as it in its sole discretion deems necessary or appropriate. The amount of any reserve, or any increase or decrease in a reserve, will be proportionately charged or credited to the Capital Accounts of those Persons who or that are Partners at the time the reserve is created, or increased or decreased, except that if any individual reserve item, adjusted by any increase in the item, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units Capital Accounts of all of those Partners, then the amount of the reserve, increase or decrease may instead, at the discretion of the General Partner, be charged or credited to the Capital Accounts of those Persons who or that were Partners at the time, as determined by the General Partner in its sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital Accounts.

Reserves. (a) The General Partner Trustees may cause appropriate reserves to be created, accrued and charged by the Partnership Trust against Net Assets and proportionately against the Capital Accounts of the Partners Shareholders for contingent liabilities, if any, as of the date any contingent liability becomes known to the General PartnerTrust, the reserves to be in the amounts that the General Partner Trustees in its their sole discretion deems deem necessary or appropriate. The General Partner Trustees may increase or reduce any reserves from time to time by amounts as it they in its their sole discretion deems deem necessary or appropriate. The amount of any reserve, or any increase or decrease in a reserve, will be proportionately charged or credited to the Capital Accounts of those Persons who or that are Partners Shareholders at the time the reserve is created, or increased or decreased, except that if any individual reserve item, adjusted by any increase in the item, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units Capital Accounts of all of those PartnersShareholders, then the amount of the reserve, increase or decrease may instead, at the discretion of the General PartnerTrustees, be charged or credited to the Capital Accounts of those Persons who or that were Partners Shareholders at the time, as determined by the General Partner Trustees in its their sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital Accounts.

Reserves. (a18) The General Partner may cause appropriate reserves to be created, accrued and charged by the Partnership against Net Assets and proportionately against the Capital Accounts of the Partners for contingent liabilities, if any, as of the date any contingent liability becomes known to the General Partner, the reserves to be in the amounts that the General Partner in its sole discretion deems necessary or appropriate. The General Partner may increase or reduce any reserves from time to time by amounts as it in its sole discretion deems necessary or appropriate. The amount of any reserve, or any increase or decrease in a reserve, will be proportionately charged or credited to the Capital Accounts of those Persons who or that are Partners at the time the reserve is created, or increased or decreased, except that if any individual reserve item, adjusted by any increase in the item, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units of all of those Partners, then the amount of the reserve, increase or decrease may instead, at the discretion of the General Partner, be charged or credited to the Capital Accounts of those Persons who or that were Partners at the time, as determined by the General Partner in its sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital Accounts.

Reserves. (a) The General Partner Appropriate reserves may cause appropriate reserves to be created, accrued and charged by the Partnership against Net Assets and proportionately against the Capital Accounts of the Partners for contingent liabilities, if any, as of the date any such contingent liability becomes known to the Corporate General Partner, the such reserves to be in the amounts that which the Corporate General Partner in its sole discretion deems necessary or appropriate. The Corporate General Partner may increase or reduce any such reserves from time to time by such amounts as it the Corporate General Partner in its sole discretion deems necessary or appropriate. The amount of any such reserve, or any increase or decrease in a reservetherein, will shall be proportionately charged or credited credited, as appropriate, to the Capital Accounts of those Persons parties who or that are Partners at the time the when such reserve is created, or increased or decreased, except as the case may be; provided, however, that if any such individual reserve item, adjusted by any increase in the itemtherein, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units Capital Accounts of all of those such Partners, then the amount of the such reserve, increase increase, or decrease may instead, at the discretion of the General Partner, shall instead be charged or credited to the Capital Accounts of those Persons parties who or that were Partners at the time, as determined by the Corporate General Partner in its sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital AccountsAccounts at that time.

Reserves. (a16) The General Partner may cause appropriate reserves to be created, accrued and charged by the Partnership against Net Assets and proportionately against the Capital Accounts of the Partners for contingent liabilities, if any, as of the date any contingent liability becomes known to the General Partner, the reserves to be in the amounts that the General Partner in its sole discretion deems necessary or appropriate. The General Partner may increase or reduce any reserves from time to time by amounts as it in its sole discretion deems necessary or appropriate. The amount of any reserve, or any increase or decrease in a reserve, will be proportionately charged or credited to the Capital Accounts of those Persons who or that are Partners at the time the reserve is created, or increased or decreased, except that if any individual reserve item, adjusted by any increase in the item, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units of all of those Partners, then the amount of the reserve, increase or decrease may instead, at the discretion of the General Partner, be charged or credited to the Capital Accounts of those Persons who or that were Partners at the time, as determined by the General Partner in its sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital Accounts.

Reserves. (a) The General Partner Trustees may cause appropriate reserves to be created, accrued and charged by the Partnership Trust against Net Assets and proportionately against the Capital Accounts of the Partners Unitholders for contingent liabilities, if any, as of the date any contingent liability becomes known to the General PartnerTrust, the reserves to be in the amounts that the General Partner Trustees in its their sole discretion deems deem necessary or appropriate. The General Partner Trustees may increase or reduce any reserves from time to time by amounts as it they in its their sole discretion deems deem necessary or appropriate. The amount of any reserve, or any increase or decrease in a reserve, will be proportionately charged or credited to the Capital Accounts of those Persons persons who or that are Partners Unitholders at the time the reserve is created, or increased or decreased, except that if any individual reserve item, adjusted by any increase in the item, exceeds the lesser of $500,000 or 1% of the aggregate value of the Units Capital Accounts of all of those PartnersUnitholders, then the amount of the reserve, increase or decrease may instead, at the discretion of the General PartnerTrustees, be charged or credited to the Capital Accounts of those Persons persons who or that were Partners Unitholders at the time, as determined by the General Partner Trustees in its their sole discretion, of the act or omission giving rise to the contingent liability for which the reserve was established, increased or decreased in proportion to their Capital Accounts.