Common use of Title Holder Clause in Contracts

Title Holder. A. To the extent allowable under applicable law, title to all or any part of the properties of the Partnership may be held in the name of the Partnership, the General Partner or any other individual, corporation, partnership, trust or otherwise, 100% of the beneficial interest in which shall at all times be vested in the Partnership. Any such title holder shall perform any and all of its respective functions to the extent and upon such terms and conditions as may be determined from time to time by the General Partner. B. Except as the General Partner may otherwise specify from time to time, all property held by the General Partner or any wholly-owned subsidiary of the General Partner (except the General Partner Units and other Partnership Interests in the Partnership held by the General Partner and except for the capital stock of any such wholly-owned subsidiary of the General Partner) shall be deemed to be held for the benefit of the Partnership under Section 9.4.