Additional Authority of General Partners Sample Clauses

Additional Authority of General Partners. The General Partners and Limited Partners, by signing and executing this Partnership Agreement, hereby authorize and as General Partners, to take, permit, and/or omit any action or actions, and to do or have done any action or actions, which are, or may be, consistent with or authorized by the provisions of this Partnership Agreement, and irrevocably make, constitute and appoint and as General Partners, as true and lawful agent and attorney-in-fact with full power of substitution and with power and authority in each Limited Partner’s name, place, and stead to make, sign, execute, acknowledge, swear to, deliver, perform, implement, file, and record any and all agreements, limited partnership agreements, deeds of trust, promissory notes, financing and continuation statements, certificates, options, leases and other conveyances and other documents or instruments, including, but not limited to, the amended certificate and every amended or restated certificate which and as General Partners, consider to be required, necessary, desirable, or convenient (1) for, to, or in connection with the acquisition and ownership by the Partnership of interests in property, and (2) for, to, or in the management of conduct of the business of the Partnership. The power of attorney granted by each Limited Partner is a special power of attorney which (1) is irrevocable, (2) is coupled with an interest, (3) shall survive the death of the Limited Partner, (4) shall not be affected by the subsequent disability or incompetence of the Limited Partner, (5) shall survive the dissolution or termination of a Limited Partner which is a corporation, general or limited partnership, joint venture, trust, estate, or other entity or association, and (6) shall survive the sale, exchange, or other transfer by a Limited Partner of all or any portion of the Limited Partner’s interest, where the assignee has been approved by and as General Partners, for admission to the Partnership as a limited partner, and shall survive such admission and constitute a similar power of attorney from such assignee as a limited partner. If there is more than one Limited Partner, the power of attorney may be exercised by and as General Partners, for all the Limited Partners by a single signature and acknowledgement or verification of and as General partners, acting as attorney-in-fact for all the Limited Partners together, or by listing all of the Limited Partners and executing any instrument with a single signature and...
Sample 1
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