Common use of GENERAL POWERS OF GENERAL PARTNER Clause in Contracts

GENERAL POWERS OF GENERAL PARTNER. Except as provided in Section 4.3 hereof, the General Partner, acting alone, shall be authorized and empowered to make all decisions and to act on behalf of the Partnership and be solely responsible for the operation and management of the business of the Partnership, with all rights and powers generally conferred by applicable law or necessary, advisable or consistent in connection therewith, including without limitation to cause the Partnership to make all decisions, take all actions as may be necessary for the Partnership to perform fully, and promptly satisfy and discharge each and every obligation or responsibility of the Partnership. The General Partner may take all necessary and appropriate action to consummate a Major Decision if the Major Decision was approved (or deemed approved) in advance pursuant to Section 4.3 hereof. For any other action that does not or would not constitute a Major Decision, the General Partner may take all necessary and appropriate action without further authorization.

GENERAL POWERS OF GENERAL PARTNER. Except as provided in Section 4.3 and Section 4.4 hereof, the General Partner, acting alone, shall be authorized and empowered to make all decisions and to act on behalf of the Partnership and be solely responsible for the operation and management of the business of the Partnership, with all rights and powers generally conferred by applicable law or necessary, advisable or consistent in connection therewith, including without limitation to cause the Partnership to make all decisions, take all actions as may be necessary for the Partnership to perform fully, and promptly satisfy and discharge each and every obligation or responsibility of the Partnership. The General Partner may take all necessary and appropriate action to consummate a Major Decision if the Major Decision was approved (or deemed approved) in advance pursuant to Section 4.3 hereof. For any other action that does not or would not constitute a Major Decision, the General Partner may take all necessary and appropriate action without further authorization, except as otherwise provided in Section 4.4 below.