Common use of Conditions to Action by Limited Partners Clause in Contracts

Conditions to Action by Limited Partners. The right of the Limited Partners to vote to amend this Agreement, to dissolve the Partnership or to remove the General Partner and to admit a replacement therefor or to exercise any of the powers set forth in Section 13.16 or to approve or initiate the taking of, or take, any other action at any meeting of Limited Partners or Class of Limited Partners shall not come into existence or be effective in any manner unless and until, prior to the exercise of any such right or the taking of any such action, the Partnership has received an opinion of counsel advising the Limited Partners or the Limited Partners of a Class, as the case may be, as to the effect that the exercise of such rights or the taking of such actions may have on the limited liability of any Limited Partners other than those Limited Partners who have initiated such action, each of whom expressly acknowledges that the exercise of such right or the taking of such action may subject each of such Limited Partners to liability as a general partner under the Act or applicable similar legislation.

Conditions to Action by Limited Partners. The right of the Limited Partners to vote to amend this Agreement, to dissolve the Partnership or to remove the a General Partner and to admit a replacement therefor or to exercise any of the powers set forth out in Section 13.16 8.17 or to approve or initiate the taking of, or take, any other action at any meeting of Limited Partners or Class of Limited Partners shall will not come into existence or be effective in any manner unless and until, prior to the exercise of any such right or the taking of any such action, the Partnership has received an opinion of counsel (who may be an employee of a General Partner or the Partnership) advising the Limited Partners or (at the expense of the Limited Partners of a Class, as the case may be, Partners) as to the effect that the exercise of such those rights or the taking of such those actions may have on the limited liability of any Limited Partners other than those Limited Partners who have initiated such that action, each of whom expressly acknowledges that the exercise of such the right or the taking of such the action may subject each of such those Limited Partners to liability as a general partner under the Act or applicable similar legislation.General Partner.‌‌‌‌

Conditions to Action by Limited Partners. The right of the Limited Partners to vote to amend this Agreement, to dissolve the Partnership or to remove the General Partner and to admit a replacement therefor or to exercise any of the powers set forth in Section 13.16 9.17 or to approve or initiate the taking of, or take, any other action at any meeting of Limited Partners or Class of Limited Partners shall not come into existence or be effective in any manner unless and until, prior to the exercise of any such right or the taking of any such action, the Partnership has received an opinion of counsel advising the Limited Partners or the Limited Partners of a Class, as the case may be, as to the effect that the exercise of such rights or the taking of such actions may have on the limited liability of any Limited Partners other than those Limited Partners who have initiated such action, each of whom expressly acknowledges that the exercise of such right or the taking of such action may subject each of such Limited Partners to liability as a general partner under the Act or applicable similar legislation.