MANAGEMENT AND OBLIGATIONS OF THE GENERAL PARTNERS Sample Clauses

MANAGEMENT AND OBLIGATIONS OF THE GENERAL PARTNERS. 6.1 General Responsibility of the Managing General Partner. Management of the day-to-day affairs of the Partnership shall be vested in the Managing General Partner. The Limited Partners, in their capacity as such, shall not have either the obligation or the right to take part directly in the active day-to-day management of the business, and the Limited Partners, acting in such capacity, are not authorized to do or perform any act, thing, or deed in the name of or for or on behalf of the Partnership. Notwithstanding the foregoing, the Managing General Partner may employ, engage or retain any person, including a person who may be a Partner, to render any services to the Partnership as are deemed necessary or appropriate by the Managing General Partner.
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Related to MANAGEMENT AND OBLIGATIONS OF THE GENERAL PARTNERS

  • Rights and Obligations of the Limited Partners 8.1 Management of the Partnership. The Limited Partners shall not participate in the management or control of Partnership business nor shall they transact any business for the Partnership, nor shall they have the power to sign for or bind the Partnership, such powers being vested solely and exclusively in the General Partner.

  • Rights and Obligations of Members Section 6.1

  • Rights and Obligations of the Parties 13.2.1 The client shall be under obligation:

  • Rights and Obligations of Limited Partners 8.1 No Participation in Management. No Limited Partner (other than a General Partner if it has acquired an interest of a Limited Partner) shall take part in the management of the Partnership’s business, transact any business in the Partnership’s name or have the power to sign documents for or otherwise bind the Partnership.

  • Debt and Obligations Secured All property and Liens assigned, pledged or otherwise granted under or in connection with this Agreement (including, without limitation, those under Section 3.2 (Grant of Liens)) or any of the Financing Documents shall secure (a) the payment of all of the Obligations, and (b) the performance, compliance with and observance by the Borrower of the provisions of this Agreement and all of the other Financing Documents or otherwise under the Obligations.

  • THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

  • Obligations of Parent and of the Company Whenever this Agreement requires a Subsidiary of Parent to take any action, such requirement shall be deemed to include an undertaking on the part of Parent to cause such Subsidiary to take such action. Whenever this Agreement requires a Subsidiary of the Company to take any action, such requirement shall be deemed to include an undertaking on the part of the Company to cause such Subsidiary to take such action and, after the Effective Time, on the part of the Surviving Corporation to cause such Subsidiary to take such action.

  • Rights and Obligations of Party B 1、乙方应当具有海事管理机构批准的资质，并保持相应的应急清污能力。

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