Common use of Management; Authority of the General Partner Clause in Contracts

Management; Authority of the General Partner. The General Partner shall manage the Partnership and shall have the power on behalf and in the name of the Partnership to carry out the purposes and exercise the powers of the Partnership. Except as may be otherwise expressly provided herein, the Limited Partner as such shall have no right to, and shall not, take part in the affairs of the Partnership, nor in any event shall the Limited Partner as such have the power to act for or bind the Partnership. The exercise by the Limited Partner as such of any right or power conferred herein shall not be construed to constitute participation by the Limited Partner as such in control of the business of the Partnership so as to make such Limited Partner as such liable as a general partner for the debts and obligations of the Partnership for purposes of the Partnership Act.