Common use of Obligations of General Partner Clause in Contracts

Obligations of General Partner. The General Partner shall: 1. Devote such of their time to the business of the Partnership as they shall, in its discretion, exercised in good faith, determine to be necessary to conduct the business of the Partnership for the benefit of the Partnership and the Limited Partners; 2. File and publish all certificates, statements or other instruments required by law for formation, qualification and operation of the Partnership and for the conduct of its business in all appropriate jurisdictions; 3. Use its best efforts to cause the Partnership and the Partners to be protected by adequate public liability, property damage and other insurance; 4. Employ attorneys to represent the Partnership, which attorneys may also serve as counsel to the General Partner and any of its Affiliates; and 5. Use their best efforts to maintain the status of the Partnership as a "partnership" for federal income tax purposes.

Obligations of General Partner. The General Partner shall: 1. Devote such of their time to the business of the Partnership as they shall, in its discretion, exercised in good faith, determine to be necessary to conduct the business of the Partnership for the benefit of the Partnership and the Limited Partners; 2. File and publish all certificates, statements or other instruments required by law for formation, qualification and operation of the Partnership and for the conduct of its business in all appropriate jurisdictions; 3. Use its best efforts to cause the Partnership and the Partners to be protected by adequate public liability, property damage and other insurance; 4. Employ attorneys to represent the Partnership, which attorneys may also serve as counsel to the General Partner and any of its Affiliates; and 5. Use their its best efforts to maintain the status of the Partnership as a "partnership" for federal income tax purposes.

Obligations of General Partner. The General Partner shall: 1. Devote such of their time to the business of the Partnership as they shall, in its discretion, exercised in good faith, determine to be necessary to conduct the business of the Partnership for the benefit of the Partnership and the Limited Partners; 2. File and publish all certificates, statements or other instruments required by law for formation, qualification and operation of the Partnership and for the conduct of its business in all appropriate jurisdictions;; 19 3. Use its best efforts to cause the Partnership and the Partners to be protected by adequate public liability, property damage and other insurance; 4. Employ attorneys to represent the Partnership, which attorneys may also serve as counsel to the General Partner and any of its Affiliates; and 5. Use their its best efforts to maintain the status of the Partnership as a "partnership" for federal income tax purposes.