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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited Partner; (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 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 Apartment 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, neither the Managing General Partner nor the General Partner shall notshall: (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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited PartnerPartnership; (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 or a Managing General Partner except as provided in this Agreement; (f) admit Admit a Person as a Limited Partner except as provided in this Agreement; (g) Materially violate any provision of the MortgageMortgage Loan or Mortgage Note; (h) Intentionally cause the Apartment Housing 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 Apartment HousingProject; (j) Intentionally 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 in the aggregate of $15,000 per calendar year without the prior consent Consent of the Special Limited Partner; (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 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 Apartment 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 Not- withstanding 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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited PartnerPartnership; (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 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 Apartment 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 PersonPer- son; 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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited PartnerPartnership; (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) directly or indirectly transfer control of the General Partner, except with the Consent of the Special Limited Partner, which will not be unreasonably withheld; (g) admit a Person as a Limited Partner or Special Limited Partner except as provided in this Agreement; (gh) violate any provision of the Mortgage; (hi) cause the Apartment Housing apartment units to be rented to anyone other than Qualified Tenants; (ij) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Apartment Housing; (jk) cause any recapture of the Tax Credits; (kl) 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; (lm) commingle funds of the Partnership with the funds of another Person; or (mn) 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. (o) pay any real estate commission for the sale or refinancing of the Apartment Complex.

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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited Partner; (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 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 Apartment Housing; (j) allow the Insurance to expire; (k) cause any recapture of the Tax Credits; (kl) 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; (lm) commingle funds of the Partnership with the funds of another Person; or; (mn) 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; (o) allow the Real Estate Taxes to be unpaid if the Partnership fails to pay the same when due; (p) take any action that would cause termination of the Partnership; (q) encumber the Apartment Housing, except as provided herein; (r) execute an assignment for the benefit of creditors; or (s) permit the Partnership to make any loan to any Person.

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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited PartnerPartnership; (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) directly or indirectly transfer control of the General Partner; (g) admit a Person as a Limited Partner or Special Limited Partner except as provided in this Agreement; (gh) violate any provision of the Mortgage; (hi) cause the Apartment Housing apartment units to be rented to anyone other than Qualified Tenants; (ij) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Apartment Housing; (jk) cause any recapture of the Tax Credits; (kl) 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; (lm) commingle funds of the Partnership with the funds of another Person; or (mn) 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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited PartnerPartnership; (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 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 Apartment 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 in the aggregate of $15,000 per calendar year without the prior consent of the Special Limited PartnerPartnership; (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) directly or indirectly transfer control of the General Partner; (g) admit a Person as a Limited Partner or Special Limited Partner except as provided in this Agreement; (gh) violate any provision of the Mortgage; (hi) cause the Apartment Housing apartment units to be rented to anyone other than Qualified Tenants; (ij) violate the Minimum Set-Aside Test or the Rent Restriction Test for the Apartment Housing; (jk) cause any recapture of the Tax Credits; (kl) 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; (lm) commingle funds of the Partnership with the funds of another Person; or (mn) 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; or (o) pay any real estate commission for the sale or refinancing of the Apartment Complex.