Common use of Fiduciary Duty of General Partner Clause in Contracts

Fiduciary Duty of General Partner. The General Partner shall have fiduciary responsibility for the safekeeping and use of all funds and assets (including records) of the Partnership, whether or not in its immediate possession or control, and the General Partner shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the Partnership.

Fiduciary Duty of General Partner. The General Partner shall have fiduciary responsibility for the safekeeping and use of all funds and assets (including records) of the Partnership, whether or not in its his immediate possession or control, and the General Partner shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the Partnership.

Fiduciary Duty of General Partner. The General Partner shall have be under a fiduciary responsibility for duty to conduct the affairs of the Partnership in the best interests of the Partnership and of the Limited Partners, including the safekeeping and use of all Partnership funds and assets (including records) of the Partnership, whether or not in its immediate possession or control, and the General Partner shall not employ, or permit another to employ, such funds or assets in any manner except use thereof for the exclusive benefit of the Partnership.

Fiduciary Duty of General Partner. The General Partner shall have a fiduciary responsibility to the Limited Partners for the safekeeping and use of all funds and assets (including records) of the PartnershipPartnership Property, whether or not in its immediate possession or control, and the General Partner shall not employ, use of or permit another to employ, such funds or assets dispose of Partnership Property in any manner except for the Partnership's exclusive benefit benefit. The General Partner shall not contract away its fiduciary duties under the common law of the Partnershipagency.