Certain Distributions Prohibited. Anything in this Article 7 to the contrary notwithstanding: (a) No distribution shall be made to any Partner if, and to the extent that, such distribution would not be permitted under Sections 17-607(a) or 17-804(a) of the Delaware Act; and (b) No distribution other than a Tax Distribution shall be made to any Partner to the extent that such distribution, if made, would cause the deficit balance, if any, in the Capital Account of such Partner to exceed such Partner’s Restoration Amount or would further reduce an existing balance (as so determined) that is already negative in an amount exceeding such Partner’s Restoration Amount.
Appears in 2 contracts
Sources: Limited Partnership Agreement (Plymouth Opportunity REIT Inc.), Limited Partnership Agreement (Plymouth Opportunity REIT Inc.)