Common use of Admission; Rights and Powers Clause in Contracts

Admission; Rights and Powers. The Limited Partners shall not have the right to approve or disapprove any matter expressly except (a) as a Limited Partner with respect to certain amendments pursuant to Section 8.1, (b) the express terms of this Agreement require the approval of the Limited Partners, (c) the Transfer of interests by the General Partner pursuant to Section 9.1(a), or (d) as expressly required by law. No Partner except the General Partner shall have any other right or power to take part in the management or control of the Partnership or its business and affairs or any right or power to act for or bind the Partnership in any way. No Limited Partner, in its capacity as a Limited Partner, owes a fiduciary duty to the General Partner, the Partnership or any of its Subsidiaries, or any other Partner, and such Limited Partner may act in its own self-interest.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Jamestown Invest 1, LLC), Limited Partnership Agreement (Jamestown Invest 1, LLC), Limited Partnership Agreement (Jamestown Atlanta Invest 1, LLC)

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