Authority of Partners and Affiliated Persons to Deal with Partnership A Sample Clauses

Authority of Partners and Affiliated Persons to Deal with Partnership A. The General Partner may, for, in the name of, and on behalf of, the Partnership, acquire property from, borrow money from, enter into agreements, contracts or the like (in addition to those set forth herein) with, or reimburse for reasonable out-of-pocket expenses incurred in connection with the preparation of reports by, any Sponsor in an independent capacity, as distinguished from such capacity (if any) as a Sponsor, as if such Sponsor were an independent contractor; provided, however, that any such agreement shall be subject to the conditions set forth in Section 5.2A(ii) herein.

Authority of Partners and Affiliated Persons to Deal with Partnership A. The General Partner may, for, in the name of, and on behalf of, the Partnership, acquire property from, borrow money from, enter into agreements, contracts or the like (in addition to those set forth herein) with, or reimburse for reasonable out-of-pocket expenses incurred in connection with the preparation of reports by, any Sponsor in an independent capacity, as distinguished from such capacity (if any) as a Sponsor, as if such Sponsor were an independent contractor; provided, however, that any such agreement shall be subject to the conditions set forth in Section 5.2A(ii) herein. B. Neither the General Partner nor any Affiliate thereof shall have the authority: (i) to cause the Partnership to invest in any program, partnership or other venture; (ii) to receive any compensation, fee or expense not otherwise permitted to be paid to it under the terms of this Agreement or the Prospectus; (iii) to cause the Partnership to acquire a Property without first having obtained an appraisal with respect to the value of the Property, rendered by a competent, independent appraiser, in which the appraised value equals or exceeds the purchase price to be paid by the Partnership; (iv) to commingle the Partnership's funds with those of any other Person, or to invest any of the Net Proceeds of the Offering in junior mortgages, junior deeds of trust or other similar obligations, except that funds of the Partnership may be temporarily retained by agents of the Partnership pursuant to contracts for the rendering of services to the Partnership by such agents or held in accounts established and maintained for the purpose of making the Interim Investments and/or computerized disbursements; (v) to cause the Partnership to lend money or other assets to the General Partner or any Affiliate thereof, (vi) to grant to the General Partner or any Affiliate thereof an exclusive listing for the Sale of any assets of the Partnership; (vii) to receive any rebate or give-up, or to participate in any reciprocal business arrangement with the General Partner or an Affiliate thereof, (viii) to cause the Partnership to acquire a Property that is under construction without completion bonds, fixed price guarantees or other satisfactory arrangements; (ix) to cause the Partnership to pay directly or indirectly, a commission or fee (except as provided under Section 5.2.A.(viii)) to a Sponsor in connection with the reinvestment or distribution of the proceeds of the resale, exchange or refinancing of ...