Common use of Management and Control of the Production Partnership Clause in Contracts

Management and Control of the Production Partnership. A. Subject to the Consent of the Limited Partnership as and when required by this Agreement, the Managing Partner, within the authority granted to it under and in accordance with the provisions of this Agreement, shall have the full and exclusive right to manage and control the business and affairs of the Production Partnership and to make all decisions regarding the business of the Production Partnership and shall have all of the rights, powers and obligations of a managing general partner of a general partnership under the laws of the State. The Managing Partner shall exercise those powers as a fiduciary to the Limited Partnership. B. No other Partner shall participate in the management of or have any control over the Production Partnership's business nor shall any other Partner have the power to represent, act for, sign for or bind the Managing Partner or the Production Partnership. The Limited Partnership hereby Consents to the exercise by the Managing Partner of the powers conferred on it by this Agreement.