Fiduciary Responsibility. The General Partner shall 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 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.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Square One Energy Inc.), Limited Partnership Agreement (Square One Energy Inc.)
Fiduciary Responsibility. The General Partner shall 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 the General Partner shall not employ or permit another to employ all such funds or and assets shall be used in any manner except for accordance with the exclusive benefit terms of the Partnershipthis Agreement.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Emeritus Corp\wa\)
Fiduciary Responsibility. The General Partner Partners shall have a fiduciary responsibility for the safekeeping and use of all funds and assets of the Partnership, whether or not in its the General Partners’ immediate possession or control, control and the General Partner shall not employ or permit another person to employ such funds or assets in any manner except for the exclusive benefit of the Partnership. In addition, Unit Holders shall not be permitted to enter into any agreement with the General Partners which exculpates the General Partners from their fiduciary responsibility.
Appears in 1 contract
Samples: Limited Partnership Agreement (Secured Investment Resources Fund Lp Ii)
