Authority of the General Partner; Authority of Investment Manager Sample Clauses

Authority of the General Partner; Authority of Investment Manager. (a) The management, operation, and determination of policy of the Partnership shall be vested exclusively in the General Partner. Except as expressly provided elsewhere in this Agreement, the General Partner shall have the authority and power on behalf and in the name of the Partnership to perform all acts and enter into and perform all contracts and other undertakings which it may deem necessary, advisable, or incidental to the purposes of the Partnership set forth in Section 2.4. Notwithstanding the foregoing, the General Partner has delegated to the Investment Manager all responsibility for managing the assets of the Partnership. In the event that any Additional General Partner is admitted to the Partnership, such Additional General Partner shall not be entitled to participate in the management of the business of the Partnership except to the extent that duties may from time to time be assigned to the Additional General Partner(s) by the General Partner. Any Additional General Partner(s) to whom duties are so assigned is authorized only to act for or on behalf of the Partnership by reason of such assignment to the extent and within the scope of the duties assigned by the General Partner.
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Related to Authority of the General Partner; Authority of Investment Manager

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