Common use of Withholding of Certain Amounts Clause in Contracts

Withholding of Certain Amounts. Notwithstanding anything else contained in this Agreement, prior to making a distribution pursuant to Section 6.02, the General Partner may, in its discretion, withhold from any such distribution of cash or property in kind to any Limited Partner pursuant to this Agreement, the following amounts: (i) any amounts due from such Limited Partner to the Partnership, the General Partner pursuant to this Agreement to the extent not otherwise paid (including any Total Drawdown Default Amount or Default Amount, as applicable, plus any accrued interest thereon); (ii) any amounts required to pay or to reimburse (on a net after-tax basis) any Indemnified Person for the payment of any taxes and related expenses that the General Partner in good faith determines to be properly attributable to such Limited Partner; and

Appears in 2 contracts

Sources: Agreement of Limited Partnership (Host Hotels & Resorts L.P.), Agreement of Limited Partnership (Host Hotels & Resorts, Inc.)