Common use of Authority of the Partnership Clause in Contracts

Authority of the Partnership. In order to carry out its purpose, the Partnership is empowered and authorized to do any and all acts and things necessary, appropriate, proper, advisable or incidental to the furtherance and accomplishment of its purpose, and for protection and benefit of the Partnership, including but not limited to the following: (a) acquire ownership of the real property referred to in Exhibit "A" attached hereto; (b) construct, renovate, rehabilitate, own, maintain and operate the Apartment Housing in accordance with the Project Documents; (c) provide housing to Qualified Tenants, subject to the Minimum Set-Aside Test and the Rent Restriction Test and consistent with the requirements of the Project Documents so long as any Project Documents remain in force; (d) maintain and operate the Apartment Housing, including hiring the Management Agent (which Management Agent may be any of the Partners or an Affiliate thereof) and entering into any agreement for the management of the Apartment Housing during its rent-up and after its rent-up period in accordance with this Agreement; (e) enter into the Construction Loan and Mortgage; (f) rent dwelling units in the Apartment Housing from time to time, in accordance with the provisions of the Code applicable to LIHTC and provisions of the Georgia Code applicable to the Georgia Credit; and (g) do any and all other acts and things necessary or proper in accordance with this Agreement.

Authority of the Partnership. In order to carry out its purpose, the Partnership is empowered and authorized to do any and all acts and things necessary, appropriate, proper, advisable or incidental to the furtherance and accomplishment of its purpose, and for protection and benefit of the PartnershipPartnership in accordance with the Partnership Agreement, including but not limited to the following: (a) acquire ownership of the real property referred to in Exhibit "A" A attached hereto; (b) construct, renovate, rehabilitate, ownoperate, maintain and operate own the Apartment Housing in accordance with the Project Documents; (c) provide housing to Qualified Tenants, subject to the Minimum Set-Aside Test and the Rent Restriction Test and consistent with the requirements of the Project Documents so long as any Project Documents remain in force; (d) maintain and operate the Apartment Housing, including hiring the Management Agent (which Management Agent may be any of the Partners or an Affiliate thereof) and entering into any agreement for the management of the Apartment Housing during its rent-up and after its rent-up period in accordance with this Agreement; (e) enter into the Construction Loan and Mortgage; (f) rent dwelling units in the Apartment Housing from time to time, in accordance with the provisions of the Code applicable to LIHTC and provisions of the Georgia Code applicable to the Georgia CreditGHTC; and (g) do any and all other acts and things necessary or proper in accordance with this Agreement.