Common use of Limitation on General Partner’s Authority Clause in Contracts

Limitation on General Partner’s Authority. The General Partner shall not have authority to: 10.2.1 Perform any act in contravention of this Agreement; 10.2.2 Perform any act that would make it impossible to carry on the ordinary business of the Partnership; 10.2.3 Amend (other than to make ministerial changes or changes that do not disproportionately affect a Partner relative to the other Partners) this Agreement without the approval of a Majority; or 10.2.4 Perform any act which, pursuant to this Agreement or the Act, requires approval by a vote of the Limited Partners, without first receiving the required approval.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.), Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.), Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.)

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