Common use of Deficit Balances Clause in Contracts

Deficit Balances. No Partner shall be obligated to eliminate any deficit balance in its respective Capital Account or to bring its respective Capital Account into any parity with the Capital Account of any other Partner; provided that this provision shall not affect or impair any specific obligation of the Partners under the terms of this Agreement.

Appears in 2 contracts

Sources: Limited Partnership Agreement (Sealy Industrial Partners IV, LP), Limited Partnership Agreement (Sealy Industrial Partners IV, LP)