Custody of Partnership Funds; Bank Accounts. (a) All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine.
(b) All deposits and other funds not needed in the operation of the business of the Partnership may be invested by the General Partner in investment grade instruments (or investment companies whose portfolio consists primarily thereof), government obligations, certificates of deposit, bankers’ acceptances and municipal notes and bonds. The funds of the Partnership shall not be commingled with the funds of any other Person except for such commingling as may necessarily result from an investment in those investment companies permitted by this Section 10.2(b).
Custody of Partnership Funds; Bank Accounts. (a) All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine.
(b) All deposits and other funds not needed in the operation of the business of the Partnership may be invested in any manner determined by the General Partner in its sole discretion. The funds of the Partnership shall not be commingled with the funds of any other Person except for such commingling as may necessarily result from an investment permitted by this Section 10.2(b).
Custody of Partnership Funds; Bank Accounts. All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine.
Custody of Partnership Funds; Bank Accounts. 11.2.1 All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine.
11.2.2 All deposits and other funds not needed in the operation of the business of the Partnership may be invested by the General Partner in investment grade instruments (or investment companies whose portfolio consists primarily thereof), government obligations, certificates of deposit, bankers’ acceptances, municipal notes and bonds or other investments approved by the Board of Directors. The funds of the Partnership shall not be commingled with the funds of any other Person except for such commingling as may necessarily result from an investment in those investment companies permitted by this Section 11.2.2.
Custody of Partnership Funds; Bank Accounts. (a) All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine.
(b) All deposits and other funds not needed in the operation of the business of the Partnership may be invested by the General Partner in investment grade instruments (or investment companies whose portfolio consists primarily thereof), government obligations, certificates of deposit, bankers’ acceptances and municipal notes and bonds. The funds of the Partnership shall not be commingled with the funds of any other Person except for such commingling as may necessarily result from an investment in those investment companies permitted by this Section 10.2(b) or from an investment in a Joint Venture, partnership, limited liability company or other business as contemplated by Article III.
Custody of Partnership Funds; Bank Accounts. The General Partner shall have fiduciary responsibility for the safekeeping and use of all funds and accounts of the Partnership, whether or not in the immediate possession or control of the General Partner. The funds of the Partnership shall not be commingled with the funds of any other person or entity, and the General Partner shall not employ, or permit any other person or entity to employ, Partnership funds in any manner except for the benefit of the Partnership.
Custody of Partnership Funds; Bank Accounts. (a) The Managing Partner shall have fiduciary responsibility for the safekeeping and use of all funds and assets of the Partnership, whether or not in the immediate possession or control of the Managing Partner. The funds of the Partnership shall not be commingled with the funds of any other person or entity, and the Managing Partner shall not employ such funds in any manner except for the benefit of the Partnership.
(b) The Managing Partner shall deposit all Capital Contributions received from the Partners in a Partnership account and shall maintain such account in the name of and for the benefit of the Partnership. Thereafter, all cash receipts and funds of the Partnership shall be deposited and maintained in such account or accounts and all expenses, costs and similar items will be paid from such accounts by the Managing Partner for Partnership purposes. Until required in the conduct of the Partnership’s business, Partnership funds including, but not limited to, Partners’ Capital Contributions and cash receipts shall be maintained on deposit (including time deposits) in such account or accounts, with or without interest, or invested in equity securities, short-term governmental securities, certificates of deposit, money market funds, bank repurchase agreements or commercial paper as the Managing Partner, in his sole discretion, considers advisable. Any interest or other income generated by such deposits or investments shall be for the Partnership account. Such funds way be withdrawn, expended and distributed only as authorized by the terms and provisions of this Agreement on the signature of the Managing Partner or his designee.
Custody of Partnership Funds; Bank Accounts. (a) ALL FUNDS OF THE PARTNERSHIP NOT OTHERWISE INVESTED SHALL BE DEPOSITED IN ONE OR MORE ACCOUNTS MAINTAINED IN SUCH BANKING OR BROKERAGE INSTITUTIONS AS THE GENERAL PARTNER SHALL DETERMINE, AND WITHDRAWALS SHALL BE MADE ONLY ON SUCH SIGNATURE OR SIGNATURES AS THE GENERAL PARTNER MAY, FROM TIME TO TIME, DETERMINE.
(b) ALL DEPOSITS AND OTHER FUNDS NOT NEEDED IN THE OPERATION OF THE BUSINESS OF THE PARTNERSHIP MAY BE INVESTED BY THE GENERAL PARTNER IN INVESTMENT GRADE INSTRUMENTS (OR INVESTMENT COMPANIES WHOSE PORTFOLIO CONSISTS PRIMARILY THEREOF), GOVERNMENT OBLIGATIONS, CERTIFICATES OF DEPOSIT, BANKERS' ACCEPTANCES AND MUNICIPAL NOTES AND BONDS. THE FUNDS OF THE PARTNERSHIP SHALL NOT BE COMMINGLED WITH THE FUNDS OF ANY OTHER PERSON EXCEPT FOR SUCH COMMINGLING AS MAY NECESSARILY RESULT FROM AN INVESTMENT IN THOSE INVESTMENT COMPANIES PERMITTED BY THIS SECTION 10.02(b).
Custody of Partnership Funds; Bank Accounts. (a) The General Partner shall have fiduciary responsibility for the safekeeping and use of all Property, whether or not in their immediate possession or control. Property shall not be commingled with the funds of any other Person, and the General Partner shall not employ Property in any manner except for the benefit of the Partnership.
(b) All Property in the form of cash not otherwise invested shall be deposited in one or more accounts maintained in such financial institutions as the General Partner shall determine or shall be invested in short-term liquid securities or shall be left in escrow, and withdrawals shall be made only in the regular course of Partnership business on such signature or signatures as the General Partner may, from time to time, determine.
Custody of Partnership Funds; Bank Accounts. (a) The General Partner shall have fiduciary responsibility for the safekeeping and use of all funds and assets of the Partnership whether or not in the immediate possession or control of the General Partner. The funds of the Partnership shall not be commingled with the funds of any other Person, and the General Partner shall not employ such funds in any manner except for or the benefit of the Partnership.
(b) All funds of the Partnership not otherwise invested pursuant to Section 8.02(a)(x) shall be deposited in one or more accounts maintained in such banking institutions as the General Partner shall determine or shall be invested in short-term liquid securities or shall be left in escrow, and withdrawals shall be made only in the regular course of Partnership business on such signature or signatures as the General Partner may, from time to time, determine.
