Authority of Non-Managing General Partner. The non-managing General Partners shall not participate in the management of, or have any control over, the business or policies of the Partnership, except as required by the Act or permitted by section 18, and shall not transact any business in the name of the Partnership. Unless required by the Act, a non-managing general partner shall not sign any agreement, document or instrument in the name of the Partnership or otherwise make commitments on behalf of the Partnership.
Appears in 7 contracts
Samples: Limited Partnership Agreement (Paxson Communications Corp), Limited Partnership Agreement (Paxson Communications Corp), Limited Partnership Agreement (Paxson Communications Corp)
Authority of Non-Managing General Partner. The non-managing General Partners shall not participate in the management of, or have any control over, the business or policies of the Partnership, except as required by the Act or permitted by section 18, and shall not transact any business in the name of the Partnership. Unless required by the Act, a non-managing general partner shall not sign any agreement, document or instrument in the name of the Partnership or otherwise make commitments on behalf of the Partnership.the
Appears in 1 contract
Samples: Limited Partnership Agreement (Paxson Communications Corp)
