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

Limitations on General Partner’s Authority. Except with the consent of all other Partners, nothing in this Agreement shall authorize the General Partner to: (a) Manage the affairs or business of the Partnership in a manner contrary to this Agreement; (b) Sell, trade, give or otherwise alienate the Partnership’s Assets except in the ordinary course of business or in a liquidation; (c) Negligently do any act that would subject any Limited Partner to liability as a general partner in any jurisdiction or that would cause the Partnership to be classified as other than a partnership for federal income tax purposes; and (d) Except in the ordinary course of business, cause the Partnership to borrow money without the consent of the other Partners, which consent shall not be unreasonably withheld.

Limitations on General Partner’s Authority. Except with the consent of all other Partners, nothing in this Agreement shall authorize the General Partner to: (a) Manage the affairs or business of the Partnership in a manner contrary to this Agreement; (b) Sell, trade, give or otherwise alienate the Partnership’s Assets except in the ordinary course of business or in a liquidation; (c) Negligently do any act that would subject any Limited Partner to liability as a general partner in any jurisdiction or that would cause the Partnership to be classified as other than a partnership for federal income tax purposes; andand [m:\wp\rhgcntrc\actech] (d) Except in the ordinary course of business, cause the Partnership to borrow money without the consent of the other Partners, which consent shall not be unreasonably withheld.

Limitations on General Partner’s Authority. Except with the consent of all other Partners, nothing in this Agreement shall authorize the General Partner to: (a) Manage the affairs or business of the Partnership in a manner contrary to this Agreement; (b) Sell, trade, give or otherwise alienate the Partnership’s 's Assets except in the ordinary course of business or in a liquidation; (c) Negligently do any act that would subject any Limited Partner to liability as a general partner in any jurisdiction or that would cause the Partnership to be classified as other than a partnership for federal income tax purposes; and (d) Except in the ordinary course of business, cause the Partnership to borrow money without the consent of the other Partners, which consent shall not be unreasonably withheld.