Common use of Binding of Limited Partners Clause in Contracts

Binding of Limited Partners. Each Limited Partner will be bound by any representation or action made or taken by the General Partner pursuant to the power of attorney granted herein and hereby waives any and all defenses which may be available to contest, negate or disaffirm any action of the General Partner taken in good faith under such power of attorney. The General Partner’s authority to exercise its power of attorney shall cease concurrently with the removal or resignation of the General Partner as a general partner of the Partnership.

Binding of Limited Partners. Each Limited Partner will be bound by any representation or action made or taken by the General Partner pursuant to the power of attorney granted herein in Section 18.1 (other than any representation or action taken or made by the General Partner that is made fraudulently by the General Partner or that is in conflict with the express terms of this Agreement) and hereby waives any and all defenses which that may be available to contest, negate or disaffirm any action of the General Partner taken in good faith under such power of attorney. The General Partner’s authority to exercise its power of attorney shall cease concurrently with the removal or resignation of the General Partner as a general partner of the Partnership.

Binding of Limited Partners. Each Limited Partner will be bound by any representation or action made or taken by the General Partner pursuant to the power of attorney granted herein in this Section 13 and hereby waives any and all defenses defences which may be available to contest, negate or disaffirm any action of the General Partner taken in good faith under such power of attorney. The General Partner’s authority to exercise its power of attorney shall cease concurrently with the removal or resignation of the General Partner as a general partner of the Partnership.

Binding of Limited Partners. Each Limited Partner will be bound by any representation or action made or taken by the General Partner pursuant to the power of attorney granted herein in Section 20.1 and hereby waives any and all defenses defences which may be available to contest, negate or disaffirm any action of the General Partner taken in good faith under such power of attorney. The General Partner’s authority to exercise its power of attorney shall cease concurrently with the removal or resignation of the General Partner as a general partner of the Partnership.