Common use of Limitations on General Partner's Power and Authority Clause in Contracts

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner or Special Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project Apartment Housing apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the ProjectApartment Housing; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project Apartment Housing apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the ProjectApartment Housing; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner Partne except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except Except as required by Section 9.4, act in contravention of this Agreement; (b) act Act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess Confess a judgment against the Partnership; (d) possess Possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit Admit a Person as a General Partner except as provided in this Agreement; (f) admit Admit a Person as a Limited Partner except as provided in this Agreement; (g) violate Violate any provision of the MortgageMortgage Loan or Mortgage Note; (h) cause Cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate Violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause Cause any recapture of the Tax Credits; (k) permit Permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle Commingle funds of the Partnership with the funds of another Person; or (m) take Take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consentthe Consent of the Special Limited Partner.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consentconsent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this AgreementAgreement including but not limited to a change in the General Partner organizational structure because of merger, consolidation, asset sale, stock sale or swap, or otherwise; (f) admit a Person as a Limited Partner or Special Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units Low Income Units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the ProjectApartment Housing; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except Except as required by Section 9.4, act in contravention of this Agreement; (b) act Act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess Confess a judgment against the Partnership; (d) possess Possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit Admit a Person as a General Partner except as provided in this Agreement; (f) admit Admit a Person as a Limited Partner except as provided in this Agreement; (g) violate Violate any provision of the MortgageMortgage Loan or Mortgage Note; (h) cause Cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate Violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause Cause any recapture of the Tax Credits; (k) permit Permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l1) commingle Commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Class A Special Limited Partner or the consent Consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consentconsent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry o arry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner or Special Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project Apartment Housing apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the ProjectApartment Housing; (j) cause any recapture of the Federal Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the Partnership; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner SLP Class A or the consent of the Limited Partner unless the General Partner has received said Consentconsent.

Limitations on General Partner's Power and Authority. Notwithstanding the provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act in contravention of this Agreement; (b) act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess a judgment against the PartnershipPartnership in an amount not to exceed $1,000; (d) possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit a Person as a General Partner except as provided in this Agreement; (f) admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of the Mortgage; (h) in its best efforts, cause the Project apartment units to be rented leased to anyone other than Qualified Tenants; (i) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) in it best efforts, cause any recapture of the Tax Credits; (k) permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor; (l) commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless the General Partner has received said Consentconsent.

Limitations on General Partner's Power and Authority. Notwithstanding the foregoing provisions of this Article IX, the General Partner shall not: (a) except as required by Section 9.4, act Act in contravention of this Agreement; (b) act Act in any manner which would make it impossible to carry on the ordinary business of the Partnership; (c) confess Confess a judgment against the Partnership; (d) possess Possess Partnership property, or assign the Partner's right in specific Partnership property, for other than the exclusive benefit of the Partnership; (e) admit Admit a Person as a General Partner except as provided in this Agreement; (f) admit Admit a Person as a Limited Partner except as provided in this Agreement; (g) violate any provision of Violate the MortgageMortgage Loan or Mortgage Note; (h) cause Cause the Project apartment units to be rented to anyone other than Qualified Tenants; (i) violate Violate the Minimum Set-Aside Test or the Rent Restriction Test for the Project; (j) cause Cause any recapture of the Tax Credits; (k) permit Permit any creditor who makes a nonrecourse loan to the Partnership to have, or to acquire at any time as a result of making such loan, any direct or indirect interest in the profits, income, capital or other property of the Partnership, other than as a secured creditor;; or (l) commingle Commingle funds of the Partnership with the funds of another Person; or (m) take any action which requires the Consent of the Special Limited Partner or the consent of the Limited Partner unless provided, however, that the General Partner has received said Consentmay establish a master fiduciary account pursuant to which separate subtrust accounts are established for the benefit of affiliated limited partnerships, provided that Partnership funds are protected from claims of such other partnerships and/or their creditors.