Common use of No Management by Limited Partners Clause in Contracts

No Management by Limited Partners. The Limited Partners shall take no part in, or at any time interfere in any manner with, the management, conduct, or control of the Partnership's business and operations and shall have no right or authority to act for or bind the Partnership except as set forth in this Agreement. The rights and powers of such Limited Partners shall not extend beyond those set forth in this Agreement and those granted under the Certificate of Limited Partnership and any attempt to participate in the control of the Partnership in a manner contrary to the rights and powers granted herein and under the Certificate of Limited Partnership shall be null and void and without force and effect. Subject to the decisions and judgment with respect to all professional medical or clinical matters of qualified medical personnel, the General Partner, and the Investor General Partner to the extent expressly provided for in this Agreement, shall have the right to determine when and how the operations of the Partnership shall be conducted in accordance with the terms of this Agreement. The exercise by any Limited Partner of any of the rights granted to the Limited Partner hereunder shall not be deemed to be taking part in the control of the business of the Partnership and shall not constitute a violation of this Section.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Medcath Corp), Limited Partnership Agreement (Medcath Corp)

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No Management by Limited Partners. The Limited Partners shall take no part in, or at any time interfere in any manner with, the management, conduct, or control of the Partnership's business and operations and shall have no right or authority to act for or bind the Partnership except as set forth in this Agreement. The rights and powers of such Limited Partners shall not extend beyond those set forth in this Agreement and those granted under the Certificate of Limited Partnership and any attempt to participate in the control of the Partnership in a manner contrary to the rights and powers granted herein and under the Certificate of Limited Partnership shall be null and void and without force and effect. Subject to the decisions and judgment with respect to all professional medical or clinical matters of qualified medical personnel, the General Partner, and in conjunction with the Investor General Partner to the extent expressly provided for in this AgreementRepresentatives when applicable, shall have the right to determine when and how the operations of the Partnership shall be conducted in accordance with the terms of this Agreementconducted. The exercise by any Limited Partner of any of the rights granted to the Limited Partner hereunder shall not be deemed to be taking part in the control of the business of the Partnership and shall not constitute a violation of this Section.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Medcath Corp), Limited Partnership Agreement (Medcath Corp)

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No Management by Limited Partners. The Limited Partners shall take no part in, or at any time interfere in any manner with, the management, conduct, or control of the Partnership's ’s business and operations and shall have no right or authority to act for or bind the Partnership except as set forth in this Agreement. The rights and powers of such Limited Partners shall not extend beyond those set forth in this Agreement and those granted under the Certificate of Limited Partnership and any attempt to participate in the control of the Partnership in a manner contrary to the rights and powers granted herein and under the Certificate of Limited Partnership shall be null and void and without force and effect. Subject to the decisions and judgment with respect to all professional medical or clinical matters of qualified medical personnel, the General Partner, and in conjunction with the Investor General Partner to the extent expressly provided for in this AgreementRepresentatives when applicable, shall have the right to determine when and how the operations of the Partnership shall be conducted in accordance with the terms of this Agreementconducted. The exercise by any Limited Partner of any of the rights granted to the Limited Partner hereunder shall not be deemed to be taking part in the control of the business of the Partnership and shall not constitute a violation of this Section.

Appears in 1 contract

Samples: Limited Partnership Agreement (Medcath Corp)

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