Limited Partners. No person in such person’s capacity as a Limited Partner will have any voice in, or take part in the management of the business or affairs of the Partnership or have the right or authority to act for, or bind the Partnership. The Limited Partners will not be liable for any of the losses, debts or liabilities of the Partnership in excess of the balance of their respective Capital Accounts, except as otherwise expressly provided by law. A General Partner may also be a Limited Partner.
Appears in 14 contracts
Samples: Limited Partnership Agreement (Teebank Family LTD Partnership), Limited Partnership Agreement (Gilman Sheldon G), Limited Partnership Agreement (Trager Scott)
Limited Partners. No person in such person’s 's capacity as a Limited Partner will have any voice in, or take part in the management of the business or affairs of the Partnership or have the right or authority to act for, or bind the Partnership. The Limited Partners will not be liable for any of the losses, debts or liabilities of the Partnership in excess of the balance of their respective Capital Accounts, except as otherwise expressly provided by law. A General Partner may also be a Limited Partner.
Appears in 6 contracts
Samples: Agreement of Limited Partnership (Trager Trust of 2012), Limited Partnership Agreement (Trager Trust of 2012), Agreement of Limited Partnership (Trager Scott)
