Common use of Management and Operations of Business Clause in Contracts

Management and Operations of Business. 31 Section 7.1 Management............................................................................ 31 Section 7.2 Certificate of Limited Partnership.................................................... 35 Section 7.3 Restrictions on General Partner's Authority........................................... 35 Section 7.4 Reimbursement of the Crescent Group................................................... 35 Section 7.5 Outside Activities of the Crescent Group.............................................. 36 Section 7.6 Contracts with Affiliates............................................................. 37 Section 7.7 Indemnification....................................................................... 37 Section 7.8 Liability of the General Partner...................................................... 39 Section 7.9 Other Matters Concerning the General Partner.......................................... 40 Section 7.10 Title to Partnership Assets........................................................... 41 Section 7.11 Reliance by Third Parties............................................................. 41 Section 7.12 Limited Partner Representatives....................................................... 41 ARTICLE VIII RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS.......................................................... 42 Section 8.1 Limitation of Liability............................................................... 42 Section 8.2 Management of Business................................................................ 42 Section 8.3 Outside Activities of Limited Partners................................................ 42 (ii) Section 8.4 Return of Capital..................................................................... 42 Section 8.5 Rights of Limited Partners Relating to the Partnership................................ 43 Section 8.6 Exchange Rights....................................................................... 44 Section 8.7 Covenants Relating to the Exchange Rights............................................. 44 Section 8.8 Other Matters Relating to the Exchange Rights......................................... 45 ARTICLE IX BOOKS, RECORDS, ACCOUNTING AND REPORTS................................................................ 46 Section 9.1 Records and Accounting................................................................ 46 Section 9.2 Fiscal Year........................................................................... 46 Section 9.3 Reports............................................................................... 46 ARTICLE X TAX MATTERS............................................................................................ 46 Section 10.1 Preparation of Tax Returns............................................................ 46 Section 10.2 Tax Elections......................................................................... 47 Section 10.3 Tax Matters Partner................................................................... 47 Section 10.4 Organizational Expenses............................................................... 48 Section 10.5 Withholding........................................................................... 48 ARTICLE XI TRANSFERS AND WITHDRAWALS............................................................................. 49 Section 11.1 Transfer.............................................................................. 49 Section 11.2 Transfer of Partnership Interests of the General Partner.............................. 49 Section 11.3 Transfer of Partnership Interests of Limited Partners Other Than Crescent Equities.... 50 Section 11.4 Substituted Limited Partners.......................................................... 51 Section 11.5 Assignees............................................................................. 52 Section 11.6 General Provisions.................................................................... 52 Section 11.7 Acquisition of Partnership Interest by Partnership.................................... 53 ARTICLE XII ADMISSION OF PARTNERS................................................................................ 53 Section 12.1 Admission of Substituted General Partner.............................................. 53 (iii) Section 12.2 Admission of Additional or Employee Limited Partners.................................. 53 Section 12.3 Amendment of Agreement and Certificate of Limited Partnership......................... 55