Excess Nonrecourse Liability Safe Harbor. Pursuant to Section 1.752-3(a)(3) of the Regulations, solely for purposes of determining each Partner’s proportionate share of the “excess nonrecourse liabilities” of the Partnership (as defined in Section 1.752-3(a)(3) of the Regulations), the Partners’ respective interests in Partnership profits shall be determined under any permissible method reasonably determined by the General Partner.
Appears in 7 contracts
Sources: Agreement of Limited Partnership (Steadfast Apartment REIT, Inc.), Limited Partnership Agreement (Sila Realty Trust, Inc.), Limited Partnership Agreement (Phillips Edison & Company, Inc.)
Excess Nonrecourse Liability Safe Harbor. Pursuant to Section Regulations Sec tion 1.752-3(a)(3) of the Regulations), solely for purposes of determining each Partner’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Partnership (as defined in Regulations Section 1.752-1.752- 3(a)(3) of the Regulations)), the Partners’ ' respective interests in Partnership profits shall be determined under any permissible method reasonably determined by the General in accordance with each Partner.'s Percentage Interest; provided, however, that each Partner who has contributed
Appears in 1 contract
Sources: Agreement of Limited Partnership (Tower Realty Trust Inc)