Limitations on Partners. (A) No Partner or Affiliate of a Partner shall have any authority to perform (i) any act in violation of any applicable law or regulation thereunder, (ii) any act prohibited by Section 6.2(C), or (iii) any act which is required to be Consented to or ratified pursuant to this Agreement without such Consent or ratification.
(B) No action shall be taken by a Partner if it would cause the Partnership to be treated as an association taxable as a corporation for federal income tax purposes or, without the consent of the General Partner, as a publicly-traded partnership within the meaning of Section 7704 of the Code. A determination of whether such action will have the above described effect shall be based upon a declaratory judgment or similar relief obtained from a court of competent jurisdiction, a favorable ruling from the IRS or the receipt of an opinion of counsel.
Limitations on Partners. 25 SECTION 6.4 Business with Affiliates.................................26 SECTION 6.5 Compensation; Reimbursement of Expenses..................26 SECTION 6.6 Liability for Acts and Omissions.........................26 SECTION 6.7 Indemnification..........................................27 ARTICLE VII - ADMINISTRATIVE, FINANCIAL AND TAX MATTERS...................28 Page
Limitations on Partners. Except as otherwise expressly provided herein and except as may be expressly required by the Partnership Act, Partners (including Special Partners) other than General Partners as such shall have no right to, and shall not, take part in the management, conduct or control of the Partnership’s business or act for or bind the Partnership, and shall have only the rights and powers granted to Partners of the applicable class herein or, to the extent not waivable, in the Partnership Act.
Limitations on Partners. The Partners and their respective Affiliates ----------------------- shall not have any authority or be entitled:
(a) to perform any act in violation of any applicable law or regulation thereunder, including applicable Federal and state securities laws;
(b) to perform any act in violation of this Agreement or, to the extent applicable, the Credit Agreement or the Indentures;
(c) to perform any other act expressly requiring the consent of the other Partners under this Agreement, the Lenders under the Credit Agreement or the FCC without first obtaining such consent.
Limitations on Partners. (A) No Partner or Affiliate of a Partner shall have any authority to perform (i) any act in violation of any applicable law or regulation thereunder; (ii) any act prohibited by Section 6.3(B); or (iii) any act without Consent or ratification which is expressly required to be Consented to or ratified under the terms of this Agreement.
(B) No action shall be taken by a Partner if it would cause the Partnership to be treated as an association taxable as a corporation for federal income tax purposes. A determination of whether such action will have the above described effect shall be based upon a declaratory judgment or similar relief obtained from a court of competent jurisdiction, a favorable ruling from the IRS, or the receipt of an opinion of tax counsel selected or approved by the General Partner.
Limitations on Partners. 24 Section 6.4 Business with Affiliates .......................... 25 Section 6.5 Compensation; Reimbursement of Expenses .........
Limitations on Partners. No Partner or Affiliate of a ----------------------------------- Partner shall have any authority to perform (i) any act in violation of any applicable law or any regulation under such law; or (ii) any act without Consent or ratification which is required to be Consented to or ratified pursuant to this Agreement. No action shall be taken by a Partner if it would cause the Partnership to be treated as an association taxable as a corporation for federal income tax purposes.
Limitations on Partners. 26 SECTION 6.4 Business with Affiliates . . . . . . . . . . . . . . . . . 26 SECTION 6.5
Limitations on Partners. Except as expressly provided herein, the 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 that 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 Partners have any such power or right or that the Partners are anything other than “partners” in the Partnership.
