Common use of Limitations on Limited Partners Clause in Contracts

Limitations on Limited Partners. The Limited Partners shall not: (a) be permitted to take part in the business or control of the business or affairs of the Partnership; (b) have any voice in the management or operation of any Partnership property; or (c) have the authority or power to act as agent for or on behalf of the Partnership or any other Partner, to do any act which would be binding on the Partnership or any other Partner, or to incur any expenditures on behalf of or with respect to the Partnership. No Partner shall hold out or represent to any third party that the Limited Partners have any such power or right or that the Limited Partners are anything other than "limited partners" in the Partnership.

Limitations on Limited Partners. The No Limited Partners Partner shall not: (ai) be permitted to take part in the business or control of the business or affairs of the Partnership; (bii) have any voice in the management or operation of any Partnership propertythe Property; or (ciii) have the authority or power in the capacity of a Limited Partner to act as agent for or on behalf of the Partnership or any other PartnerPartnership, to do any act which would be binding on bind the Partnership or any other Partner, or to incur any expenditures on behalf of or with respect to the Partnership. No Partner shall hold out or represent to any third party that the Limited Partners have any such power or right or that the Limited Partners are anything other than "limited partners" in the Partnership.

Limitations on Limited Partners. The Limited Partners shall not: not (a) be permitted to take part in the business or control of the business or affairs of the Partnership; (b) have any voice in the management or operation of any Partnership property; or (c) have the authority or power to act as agent for or on behalf of the Partnership or any other Partner, to do any act which would be binding on the Partnership or any other Partner, or to incur any expenditures on behalf of or with respect to the Partnership. No Partner shall hold out or represent to any third party that the Limited Partners have any such power or right or that the Limited Partners are anything other than "limited partners" in the Partnership.

Limitations on Limited Partners. The Limited Partners (in their respective capacities as Limited Partners of the Partnership) shall not: (a) be permitted to take part in the business or control of the business or affairs of the Partnership; (b) have any voice in the management or operation of any Partnership property; or (c) have the authority or power to act as agent for or on behalf of the Partnership or any other Partner, to do any act which would be binding on the Partnership or any other Partner, or to incur any expenditures on behalf of or with respect to the Partnership. No Partner shall hold out or represent to any third party that the Limited Partners have any such power or right or that the Limited Partners are anything other than "“limited partners" ” in the Partnership.