Management of Fund. The General Partner shall have the exclusive right to manage and control the affairs of the Fund. The Limited Partners shall not take part in the management of Fund affairs and under no circumstances may any Limited Partner control the Fund business or sign for or bind the Fund. Notwithstanding anything to the contrary contained in this Agreement, the General Partner shall have the exclusive authority to act on behalf of the Fund, and no third party shall be required to inquire into the authority of the General Partner to take any action on behalf of the Fund. Except as expressly limited in this Agreement, the General Partner shall have the rights, authority and powers of general partners with respect to the Fund business and the Fund Assets that are set forth in the Act as in effect upon the Effective Date of this Agreement. The General Partner may delegate any of its management authority to one or more other persons, including but not limited to an Investment Manager (see definition of "Investment Manager" in Section 3.1(g)).
Appears in 4 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement, Limited Partnership Agreement
