Common use of Fees Nonrecourse Clause in Contracts

Fees Nonrecourse. Agent acknowledges that the services to be provided hereunder are for the benefit of the Partnerships and not Winthrop, and therefore, Agent agrees to look solely to the net assets of each Partnership for the payment of the Asset Management Fees, the Accrued Asset Management Fees, the Reimbursements, the Operating Distributions, the Refinancing Distributions, and the repayment of any Agent Loans, and not to the assets of any other Partnership or Winthrop (except to the extent any sums received by Winthrop which should otherwise be paid to Agent pursuant to the terms of this Services Agreement are not paid to Agent), and further agrees that any deficit capital account of a partner in a Partnership shall not be deemed an asset of the Partnership. The provisions of this Section 3.4 shall not apply to the obligations of Winthrop under Section 6.3 below.