Common use of No Management Responsibility Clause in Contracts

No Management Responsibility. No Limited Partner shall participate in the management or control of the business of or transact any business for the Partnership but may exercise the rights and powers of a Limited Partner under this Agreement. All management responsibility is vested in the Management Committee. The Limited Partners hereby consent to the taking of any action by the Management Committee and the Managing General Partners contemplated under Article 3.

No Management Responsibility. No At no time during the term of the Partnership shall any Limited Partner shall participate have any authority or right to take part in the management or control of the business of or transact any business for the Partnership but may exercise the rights and powers of a Limited Partner under this AgreementPartnership. All management responsibility is vested absolutely and exclusively in the Management CommitteeGeneral Partners. The Any action by any Limited Partners hereby consent Partner inconsistent with this Section 5.2 shall subject such acting Limited Partner to the taking provisions of any action by the Management Committee and the Managing General Partners contemplated under Article 3Section 5.3 hereof.

No Management Responsibility. No Limited Partner shall participate in the management or control of the business of or transact any business for the Partnership but may exercise the rights and powers of a Limited Partner under this Agreement. All management responsibility is vested in the Management CommitteeGeneral Partners. The Limited Partners hereby consent to the taking of any action by the Management Committee Managing General Partners and the direction of the Managing General Partners by the Individual General Partners contemplated under Article 3.