Common use of Limitation on Authority of Limited Partners Clause in Contracts

Limitation on Authority of Limited Partners. The Limited Partner in its capacity as limited partner will not be entitled to: (a) take part in the administration, control, management or operation of the business of the Partnership or exercise any power in connection therewith; (b) transact any business on behalf of the Partnership or make any commitment on behalf of or otherwise obligate or bind the Partnership; (c) other than by voting on a resolution of the Partners (where the Limited Partner is entitled to so vote), execute any document that binds or purports to bind the Partnership or any other Partner as such; (d) hold itself out as having the power or authority to bind the Partnership or any other Partner as such; (e) have any authority to act for or undertake any obligation or responsibility on behalf of the Partnership or any other Partner as such; (f) bring any action for partition or sale or otherwise in connection with the Partnership, or any interest in any property of the Partnership, whether real or personal, tangible or intangible, or file or register or permit to be filed, registered or remain undischarged any encumbrance in respect of any property of the Partnership; (g) compel or seek a partition, judicial or otherwise, of any of the assets of the Partnership distributed or to be distributed to the Partners in kind except in accordance with this Agreement; or (h) take any action that will jeopardize or eliminate the status of the Partnership as a limited partnership.

Limitation on Authority of Limited Partners. The Limited Partner in its capacity as limited partner Limited Partner will not be entitled to: (a) take part in the administration, control, management or operation of the business of the Partnership or exercise any power in connection therewith; (b) transact any business on behalf of the Partnership or make any commitment on behalf of or otherwise obligate or bind the Partnership; (c) other than by voting on a resolution of the Partners (where the Limited Partner is entitled to so vote), execute any document that binds or purports to bind the Partnership or any other Partner as such; (d) hold itself out as having the power or authority to bind the Partnership or any other Partner as such; (e) have any authority to act for or undertake any obligation or responsibility on behalf of the Partnership or any other Partner as such; (f) bring any action for partition or sale or otherwise in connection with the Partnership, or any interest in any property of the Partnership, whether real or personal, tangible or intangible, or file or register or permit to be filed, registered or remain undischarged any encumbrance in respect of any property of the Partnership; (g) compel or seek a partition, judicial or otherwise, of any of the assets of the Partnership distributed or to be distributed to the Partners in kind except in accordance with this Agreement; or (h) take any action that will jeopardize or eliminate the status of the Partnership as a limited partnership.

Limitation on Authority of Limited Partners. ‌ The Limited Partner in its capacity as limited partner will not be entitled to: (a) take part in the administration, control, management or operation of the business of the Partnership or exercise any power in connection therewith; (b) transact any business on behalf of the Partnership or make any commitment on behalf of or otherwise obligate or bind the Partnership; (c) other than by voting on a resolution of the Partners (where the Limited Partner is entitled to so vote), execute any document that binds or purports to bind the Partnership or any other Partner as such; (d) hold itself out as having the power or authority to bind the Partnership or any other Partner as such; (e) have any authority to act for or undertake any obligation or responsibility on behalf of the Partnership or any other Partner as such; (f) bring any action for partition or sale or otherwise in connection with the Partnership, or any interest in any property of the Partnership, whether real or personal, tangible or intangible, or file or register or permit to be filed, registered or remain undischarged any encumbrance in respect of any property of the Partnership; (g) compel or seek a partition, judicial or otherwise, of any of the assets of the Partnership distributed or to be distributed to the Partners in kind except in accordance with this Agreement; or (h) take any action that will jeopardize or eliminate the status of the Partnership as a limited partnership.

Limitation on Authority of Limited Partners. The No Limited Partner in its capacity as limited partner will not be entitled toa Limited Partner will: (a) take part in the administration, control, control or management or operation of the business of the Partnership or exercise any power in connection therewith; (b) transact any business on behalf of the Partnership or make any commitment on behalf of or otherwise obligate or bind the Partnership; (c) other than by voting on a resolution of the Partners (where the Limited Partner is entitled to so vote)) and executing permitted amendments to this Agreement, execute any document that binds or purports to bind the Partnership or any other Partner as such; (d) hold itself out as having the power or authority to bind the Partnership or any other Partner as such; (e) have any authority to act for or undertake any obligation or responsibility on behalf of the Partnership or any other Partner as suchor the Partnership; (f) bring any action for partition or sale or otherwise in connection with the Partnership, or any interest in any property of the Partnership, whether real or personal, tangible or intangible, or file or register or permit to be filed, registered or remain undischarged any encumbrance lien or charge in respect of any property of the Partnership; (g) compel or seek a partition, judicial or otherwise, of any of the assets of the Partnership distributed or to be distributed to the Partners in kind except in accordance with this Agreement; or (h) take any action that will jeopardize or eliminate the status of the Partnership as a limited partnership.

Limitation on Authority of Limited Partners. The Limited Partner in its capacity as limited partner will not be entitled to: (a) take part in the administration, control, management or operation of the business of the Partnership or exercise any power in connection therewith; (b) transact any business on behalf of the Partnership or make any commitment on behalf of or otherwise obligate or bind the Partnership; (c) other than by voting on a resolution of the Partners (where the Limited Partner is entitled to so vote), execute any document that binds or purports to bind the Partnership or any other Partner as such; (d) hold itself out as having the power or authority to bind the Partnership or any other Partner as such; (e) have any authority to act for or undertake any obligation or responsibility on behalf of the Partnership or any other Partner as such; (f) bring any action for partition or sale or otherwise in connection with the Partnership, or any interest in any property of the Partnership, whether real or personal, tangible or intangible, or file or register or permit to be filed, registered or remain undischarged any encumbrance in respect of any property of the Partnership;; MT DOCS 14908732v9 (g) compel or seek a partition, judicial or otherwise, of any of the assets of the Partnership distributed or to be distributed to the Partners in kind except in accordance with this Agreement; or (h) take any action that will jeopardize or eliminate the status of the Partnership as a limited partnership.

Limitation on Authority of Limited Partners. The Limited Partner in its capacity as limited partner of the Partnership will not be entitled to: (a) give other than an advisory opinion with regard to the management of the business of the Partnership; (b) take part in the administration, control, management or operation of the business of the Partnership or exercise any power in connection therewith; (b) transact , including without limitation, transacting any business on behalf of the Partnership or to act as mandatary or agent for the Partnership or otherwise make any commitment on behalf of of, or otherwise obligate or bind bind, the Partnership; (c) other than by voting on a resolution of the Partners (where the Limited Partner is entitled to so vote), execute any document that binds or purports to bind the Partnership or any other Partner as such; (d) hold itself out as having the power or authority to bind the Partnership or any other Partner as such; (e) have any authority or power to sign for, bind, act for for, or undertake any obligation or responsibility on behalf of of, the Partnership or any other Partner as such; (f) allow its name to be used in any act of the Partnership; (g) bring any action for partition or sale or otherwise in connection with the Partnership, or any interest in any property of the Partnership, whether real or personal, tangible or intangible, or file or register or permit to be filed, registered or remain undischarged any encumbrance in respect of any property of the Partnership; (gh) compel or seek a partition, judicial or otherwise, of any of the assets of the Partnership distributed or to be distributed to the Partners in kind except in accordance with this Agreement; or (hi) take any action that will jeopardize or eliminate the status of the Partnership as a limited partnership.