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.
Appears in 4 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement, Limited Partnership Agreement
