Duties of General Partner. The General Partner agrees that it shall at all times:
(a) diligently and faithfully devote such of its time to the business of the Partnership as may be necessary to properly conduct the affairs of the Partnership;
(b) file and publish all certificates, statements or other instruments required by law for the formation and operation of the Partnership as a limited partnership in all appropriate jurisdictions;
(c) cause the Partnership to carry Insurance from an Insurance Company;
(d) have a fiduciary responsibility for the safekeeping and use of all funds and assets of the Partnership, whether or not in its immediate possession or control and not employ or permit another to employ such funds or assets in any manner except for the benefit of the Partnership;
(e) use its best efforts so that all requirements shall be met which are reasonably necessary to obtain or achieve (1) compliance with the Minimum Set-Aside Test, the Rent Restriction Test, and any other requirements necessary for the Apartment Housing to initially qualify, and to continue to qualify, for LIHTC; (2) issuance of all necessary certificates of occupancy, including all governmental approvals required to permit occupancy of all of the apartment units in the Apartment Housing;
Duties of General Partner. The General Partner agrees that it shall at all times:
(a) diligently and faithfully devote such of its time to the business of the Partnership as may be necessary to properly conduct the affairs of the Partnership;
(b) file and publish all certificates, statements or other instruments required by law for the formation and operation of the Partnership as a limited partnership in all appropriate jurisdictions;
(c) cause the Partnership to carry Insurance from an Insurance Company;
(d) have a fiduciary responsibility for the safekeeping and use of all funds and assets of the Partnership, whether or not in its immediate possession or control and not employ or permit another to employ such funds or assets in any manner except for the benefit of the Partnership;
(e) use its best efforts so that all requirements shall be met which are reasonably necessary to obtain or achieve (1) compliance with the Minimum Set-Aside Test, the Rent Restriction Test, and any other requirements necessary for the Project to initially qualify, and to continue to qualify, for LIHTC; (2) issuance of all necessary certificates of occupancy, including all governmental approvals required to permit occupancy of all of the apartment units in the Project; (3) compliance with all provisions of the Project Documents and (4) a reservation and allocation of LIHTC from the State Tax Credit Agency;
(f) use its best efforts to keep the Project in decent, safe, sanitary and good condition, repair and working order, ordinary use and obsolescence excepted, and make or cause to be made from time to time all necessary repairs thereto (including external and structural repairs) and renewals and replacements thereof;
(g) pay, before the same shall become delinquent and before penalties accrue thereon all Partnership taxes, assessments and other governmental charges against the Partnership or its properties, and all of its other liabilities, except to the extent and so long as the same are being contested in good faith by appropriate proceedings in such manners as not to cause any material adverse effect on the Partnership's property, financial condition or business operations, with adequate reserves provided for such payments;
(h) permit, and cause the Management Agent to permit, the Special Limited Partner and its representatives: (1) to have access to the Project and personnel employed by the Partnership and by the Management Agent at all times during normal business hours after reasonable notice; (2) ...
Duties of General Partner. (a) The General Partner, subject to the limitations contained elsewhere in this Agreement, shall manage or cause to be managed the affairs of the Partnership in a prudent and businesslike manner and shall devote sufficient time and effort to the Partnership affairs.
(b) In carrying out its obligations, the General Partner shall:
(i) Render annual reports to all Partners with respect to the operations of the Partnership;
(ii) On or before March 31st of every year, mail to all persons who were Partners at any time during the Partnership's prior fiscal year an annual report of the Partnership, including all necessary tax information, and any other information regarding the Partnership and its operations during the prior fiscal year deemed by the General Partner to be material;
(iii) Maintain complete and accurate records of all business conducted by the Partnership and complete and accurate books of account (containing such information as shall be necessary to record allocations and distributions), and make such records and books of account available for inspection and audit by any Partner or such Partner's duly authorized representative (at the sole expense of such Partner) during regular business hours and at the principal office of the Partnership; and
(iv) Cause to be filed such certificates and do such other acts as may be required by law to qualify and maintain the Partnership as a limited partnership under the laws of the State of Delaware.
(c) The General Partner shall take such actions as it deems necessary to maintain the economic equivalency of Common Partnership Units and REIT Common Shares and Preferred Partnership Units and REIT Preferred Shares, respectively, required by this Agreement.
Duties of General Partner. The General Partner shall manage the business and affairs of the Partnership in the manner the General Partner deems appropriate or necessary. Without limiting the generality of the foregoing, the General Partner’s duties shall include the following:
(a) to take possession of the assets of the Partnership;
(b) to staff and operate the business of the Partnership with the officers and employees of the General Partner or of other Persons;
(c) to render or cause to be rendered engineering, environmental and other technical services and perform or cause to be performed financial, accounting, logistical and other administrative functions for the Partnership;
(d) to render such reports and make such periodic and other filings as may be required under applicable federal, state and local laws, rules and regulations;
(e) to provide or cause to be provided purchasing, procurement, repair and other services for the Partnership; and
(f) to conduct the business of the Partnership in accordance with this Agreement and all applicable laws, rules and regulations; in each case in such a manner as the General Partner deems appropriate or necessary.
Duties of General Partner. 33 9.8 Obligations to Repair and Rebuild Apartment Housing......................................... 35 9.9
Duties of General Partner. The General Partner shall devote such time to the business of the Partnership as it shall deem necessary to manage and supervise the business and affairs of the Partnership in an efficient manner. Subject to the foregoing, the General Partner shall manage the administration of the Partnership, which administration shall include, but not be limited to, (a) maintaining customary books and records; (b) preparing or causing the preparation of the financial statements provided for in this Agreement; (c) preparing and filing or causing the preparation and filing of Partnership tax returns; (d) preparing communications from the Partnership to Limited Partners; (e) filing documents required to be filed by the Partnership; (f) causing the Partnership to make or revoke the appropriate tax elections under the Code; (g) functioning as tax matters partner for federal, state and local tax purposes; and (h) acting on behalf of the Partnership with respect to (i) the Trust or the Securitization Trust, (ii) any lenders and (iii) any other Person dealing with the Partnership or any Partnership Property.
Duties of General Partner. The General Partner shall manage the business and affairs of the Partnership in the manner that the General Partner deems appropriate or necessary. Without limiting the generality of the foregoing, the General Partner's duties shall include the following:
8.2.1. To take possession of the assets of the Partnership;
8.2.2. To staff and operate the business of the Partnership;
8.2.3. To perform or cause to be performed financial, accounting, logistical, and other administrative functions for the Partnership;
8.2.4. To render such reports and make such periodic and other filings as may be required under applicable federal, state, and local laws, rules, and regulations;
8.2.5. To provide or cause to be provided purchasing, procurement, repair, and other services for the Partnership; and
8.2.6. To conduct the business of the Partnership in accordance with this Agreement, the Participation Agreements and related sale-leaseback transaction documents, and all applicable laws, rules, and regulations; in each case in such a manner as the General Partner deems appropriate or necessary, and provided moreover that the General Partner shall not be deemed to be in violation of this Article 8.2 or any of its other duties or obligations hereunder as a result of its compliance with Sections or 8.1.2 and 8.1.6. hereof.
Duties of General Partner. The General Partner shall exercise the powers and discharge the duties of its office hereunder honestly, in good faith and in the best interests all Partners.
Duties of General Partner. (a) The General Partner, subject to the limitations contained elsewhere in this Agreement, shall manage or cause to be managed the affairs of the Partnership in a prudent and businesslike manner and shall devote sufficient time and effort to the Partnership affairs.
(b) In carrying out its obligations, the General Partner shall:
Duties of General Partner. Subject to the limitations in Section 5.03, the General Partner shall be charged with the full responsibility for managing and promoting the Partnership’s purpose and business. The General Partner shall devote its diligent efforts to the business and affairs of the Partnership, including such time as shall be required, in the reasonable opinion of the General Partner, for the proper conduct of the business of the Partnership. The General Partner shall not assign its duties under this Agreement except pursuant to the terms of Section 8.05 hereof. The General Partner shall have authority in its sole discretion to delegate any responsibilities hereunder to third parties with whom it contracts to provide services on behalf of the Partnership. No such delegation shall relieve the General Partner from its duties or obligations hereunder.
