Common use of Allocation of Certain Expenses Clause in Contracts

Allocation of Certain Expenses. Except as otherwise provided for in this Agreement, any expenditures payable by the Partnership, to the extent determined by the General Partner to have been paid or withheld on behalf of, or by reason of particular circumstances applicable to, one or more but fewer than all of the Partners, are to be charged to only those Partners on whose behalf such payments are made or whose particular circumstances gave rise to such payments. Such charges are debited from the Capital Accounts of such Partners as of the close of the Fiscal Period during which any such items were accrued or paid.

Appears in 3 contracts

Sources: Exempted Limited Partnership Agreement (Greenlight Capital Re, Ltd.), Exempted Limited Partnership Agreement (Greenlight Capital Re, Ltd.), Exempted Limited Partnership Agreement (Greenlight Capital Re, Ltd.)