Common use of Delegation by General Partner to Management Clause in Contracts

Delegation by General Partner to Management. The General Partner hereby irrevocably delegates to Management, to the fullest extent permitted under the Partnership Agreements and Delaware law, all of the General Partner's power and authority to manage and control the business and affairs of the Partnerships (the "MAXIMUM PERMITTED DELEGATION"), subject to termination only in accordance with Section 9 hereof; and all provisions in this Agreement are qualified to the extent required in order for all such provisions to be consistent, now and in the future, with the Maximum Permitted Delegation. The power and authority of the General Partner are set forth in the Partnership Agreements (in particular, in Section 6.1 of each of the Partnership Agreements) and are provided by Delaware law. If the General Partner's power and authority as general partner of any Partnership(s) are modified pursuant to a subsequent amendment or restatement of any of the Partnership Agreements or changes in Delaware law, then the power and authority delegated to Management with respect to such Partnership(s) shall be modified on the same basis. Notwithstanding the foregoing, the General Partner is not hereby withdrawing from the Partnerships as a general partner or otherwise; and the General Partner is retaining all of its Partnership Interests, its Percentage Interests and its rights to profits, losses and distributions from the Partnerships, and none of these are hereby being assigned or transferred by the General Partner to Management.

Delegation by General Partner to Management. The General Partner hereby irrevocably delegates to Management, to the fullest extent permitted under the Partnership Agreements and Delaware law, all of the General Partner's power and authority to manage and control the business and affairs of the Partnerships (the "MAXIMUM PERMITTED DELEGATIONMaximum Permitted Delegation"), subject to termination only in accordance with Section 9 hereof; and all provisions in this Agreement are qualified to the extent required in order for all such provisions to be consistent, now and in the future, with the Maximum Permitted Delegation. The power and authority of the General Partner are set forth in the Partnership Agreements (in particular, in Section 6.1 of each of the Partnership Agreements) and are provided by Delaware law. If the General Partner's power and authority as general partner of any Partnership(s) are modified pursuant to a subsequent amendment or restatement of any of the Partnership Agreements or changes in Delaware law, then the power and authority delegated to Management with respect to such Partnership(s) shall be modified on the same basis. Notwithstanding the foregoing, the General Partner is not hereby withdrawing from the Partnerships as a general partner or otherwise; and the General Partner is retaining all of its Partnership Interests, its Percentage Interests and its rights to profits, losses and distributions from the Partnerships, and none of these are hereby being assigned or transferred by the General Partner to Management.