Common use of Participation in Management Clause in Contracts

Participation in Management. The Limited Partners, as such, shall not (i) participate in the management or control of the Partnership's business, (ii) transact any business for the Partnership, nor (iii) have the power to act for or bind the Partnership, said powers being vested solely and exclusively in the General Partner. The Limited Partners shall have only the voting rights expressly set forth in this Agreement or as required under the Act.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Walden Residential Properties Inc), Limited Partnership Agreement (Walden Residential Properties Inc), Limited Partnership Agreement (Walden Residential Properties Inc)

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Participation in Management. The Except as set forth in Section 5.7 and any other express provision of this Agreement, the Limited Partners, as such, Partners shall not (i) participate in the management or control of the Partnership's business, (ii) Partnership‟s business nor shall they transact any business for the Partnership, nor (iii) shall they have the power to act for or bind the Partnership, said powers being vested solely and exclusively in the General Partner. The Limited Partners shall have only the voting rights expressly set forth in this Agreement or as required under the Act.

Appears in 2 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement

Participation in Management. The Limited Partners, as such, shall not (i) participate in the management or control of the Partnership's business, (ii) transact any business for the Partnership, nor (iii) have the power to act for or bind the Partnership, said powers being vested solely and exclusively in the General Partner. The Limited Partners shall have only the voting rights expressly set forth in this Agreement or as required under the Act.

Appears in 1 contract

Samples: Limited Partnership Agreement (Walden Residential Properties Inc)

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Participation in Management. The Except as set forth in Section --------------------------- 5.7 and any other express provision of this Agreement, the Limited Partners, as such, Partners shall not (i) otherwise participate in the management or control of the Partnership's business, (ii) business nor shall they transact any business for the Partnership, nor (iii) shall they have the power to act for or bind the Partnership, said powers being vested solely and exclusively in the General Partner. The Limited Partners shall have only are authorized to consult with the voting rights expressly set forth in this Agreement or as required under General Partner regarding the Actbusiness of the Partnership.

Appears in 1 contract

Samples: Limited Partnership Agreement (Hob Entertainment Inc /De/)

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