Common use of Other Permissible Activities Clause in Contracts

Other Permissible Activities. Nothing herein contained shall be deemed to prevent any Partner or any shareholder or affiliate thereof from engaging in other activities for profit, whether in the real estate business or otherwise. The Managing General Partner (or any shareholder or affiliate thereof), or any Partner, may, in the future, organize and manage joint ventures, additional limited partnerships or other business entities for the acquisition, management and sale of real estate. Neither this Agreement nor any activity undertaken pursuant hereto shall prevent any Partner or any affiliate from engaging in such activities, or require any Partner to permit the Partnership or any Partner to participate in any such activities and, as a material part of the consideration for each Partner's execution hereof, each Partner, for the benefit of the other Partners, hereby waives, relinquishes and renounces any such right or claim of participation.