Management Vested in General Partners Sample Clauses

Management Vested in General Partners. Subject to the limitations expressly provided in this Agreement and subject to Sections 4.2, 4.3 and 4.4 hereof, the General Partners shall have exclusive control over the business of the Partnership and shall have all rights, powers and authority conferred by law as necessary, advisable or consistent in connection therewith. Without limiting the generality of the foregoing, except as set forth in Sections 4.2, 4.3, and 4.4 hereof, the General Partners shall have the right, power and authority to execute any documents relating to the acquisition, financing, construction, operation and sale of all or any portion of the Project without the prior approval of the Limited Partner. Notwithstanding anything to the contrary set forth herein, the General Partners shall have the exclusive authority, without the prior approval of the Limited Partner, to enter into, execute and deliver letters of intent, purchase agreements and any other documents necessary or desirable to operate, acquire, finance or develop the Project on behalf of the Partnership, provided, however, in the event of an impasse or dispute between the General Partners, the Limited Partner shall have the sole authority to resolve said impasse or dispute.
Sample 1
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