General partners’ decisions Sample Clauses
The 'General partners’ decisions' clause defines the authority and discretion granted to the general partners in managing the partnership’s affairs. Typically, this clause outlines the scope of decisions that general partners can make without requiring consent from limited partners, such as entering contracts, making investments, or handling day-to-day operations. By clearly delineating decision-making powers, the clause ensures efficient management and prevents operational delays, while also clarifying the boundaries of authority to avoid disputes among partners.
General partners’ decisions. The general partners shall take decisions at Managing Partner’s discretion at a General Meeting or by written consultation. Whenever a decision requires the approval of the general partners and the General Meeting of Shareholders, pursuant to the law or the Memorandum and Articles of Association, Managing Partner shall collect the general partners’ votes, in principle, before the General Meeting and, in any event, no later than the close thereof. Decisions or proposals that fall within the remit of the general partners shall be adopted unanimously, except if the Company is converted to a société anonyme (French limited company) or a société à responsabilité limitée (French limited liability company) which only requires a majority of the general partners.