Common use of Exercise of Powers and Discharge of Duties Clause in Contracts

Exercise of Powers and Discharge of Duties. The General Partner shall exercise its powers and discharge its duties under this Agreement honestly, in good faith and in the best interest of the Partnership and of the Limited Partners as a group and in connection therewith shall exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership would exercise in comparable circumstances.

Appears in 2 contracts

Samples: Limited Partnership Agreement, Partnership Agreement

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Exercise of Powers and Discharge of Duties. The General Partner shall will exercise its powers and discharge its duties under this Agreement honestly, in good faith and in what the General Partner reasonably believes to be the best interest interests of the Partnership and of the Limited Partners as a group and in connection therewith shall exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership would exercise in comparable circumstancesPartnership.

Appears in 1 contract

Samples: Limited Partnership Agreement

Exercise of Powers and Discharge of Duties. The General Partner shall exercise its the powers and discharge the duties of its duties under this Agreement office honestly, in good faith and in the best interest of the Partnership and interests of the Limited Partners as a group and the Partnership. The General Partner shall be entitled to retain, at its own expense, advisers, experts or consultants to assist it in connection therewith shall the exercise of its powers and the degree performance of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership would exercise in comparable circumstancesits duties.

Appears in 1 contract

Samples: Limited Partnership Agreement (Thompson Creek Metals Co USA)

Exercise of Powers and Discharge of Duties. The General Partner shall will exercise its powers and discharge its duties under this Agreement honestly, in good faith and in the best interest interests of the Partnership and of the Limited Partners as a group and in connection therewith shall will exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership person would exercise in comparable circumstances.

Appears in 1 contract

Samples: Limited Partnership Agreement

Exercise of Powers and Discharge of Duties. The General Partner shall will exercise its powers and discharge its duties under this Agreement honestly, in good faith and in the best interest of the Partnership and interests of the Limited Partners as a group and in connection therewith shall exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership person would exercise in comparable circumstances.

Appears in 1 contract

Samples: Limited Partnership Agreement

Exercise of Powers and Discharge of Duties. The General Partner shall will exercise its the powers and discharge the duties of its duties under this Agreement office honestly, in good faith and in the best interest of the Partnership and interests of the Limited Partners as a group and in connection therewith shall exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership would exercise in comparable circumstancesPartnership.

Appears in 1 contract

Samples: Limited Partnership Agreement (Brookfield Property Partners L.P.)

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Exercise of Powers and Discharge of Duties. The General Partner shall will exercise its powers and discharge its duties under this Agreement honestly, with the utmost fairness and in good faith towards and in the best interest of the Partnership and interests of the Limited Partners as a group and in connection therewith shall therewith, will exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership would exercise person in comparable circumstancescircumstances would exercise.

Appears in 1 contract

Samples: Limited Partnership Agreement

Exercise of Powers and Discharge of Duties. The General Partner shall will exercise its powers power and discharge its duties under this Agreement honestly, in good faith and in the best interest interests of the Partnership and of the Limited Partners as a group and in connection therewith shall exercise the degree of care, diligence and skill that a reasonably prudent manager of a business similar to that of the Partnership person would exercise in comparable circumstances, but subject to the foregoing shall not be liable to any Limited Partner for any act, omission or error in judgment made in good faith.

Appears in 1 contract

Samples: Limited Partnership Agreement

Exercise of Powers and Discharge of Duties. The General Partner shall exercise its the powers and discharge the duties of its duties under this Agreement office honestly, in good faith and in the best interest of the Partnership and interests of the Limited Partners as a group and the Partnership. The General Partner shall be entitled to retain, at its own expense, advisers, experts or consultants to assist it in connection therewith shall the exercise of its powers and the degree performance of care, diligence and skill that a reasonably prudent manager of a business similar to that of its duties including entering into the Partnership would exercise in comparable circumstancesServices Agreement.

Appears in 1 contract

Samples: Limited Partnership Agreement (Synergx Systems Inc)

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