Common use of Partnership Powers Clause in Contracts

Partnership Powers. In furtherance of the business purpose specified in Section 2.3, the Partnership, and the General Partner on behalf of the Partnership, shall be empowered to do or cause to be done any and all acts reasonably deemed by the General Partner to be necessary or appropriate in furtherance of the purposes of the Partnership or forbear from doing any act if the General Partner reasonably deems such forbearance necessary or appropriate in furtherance of the purposes of the Partnership, including without limitation, the power and authority: (a) To enter into, perform and carry out contracts and agreements of every kind necessary or incidental to the accomplishment of the Partnership's purposes, including without limitation, contracts and agreements with the General Partner, and to take or omit such other or further action in connection with the Partnership's business as may be necessary or desirable in the opinion of the General Partner to further the purposes of the Partnership, provided, however, that any transaction between the Partnership and Partners or their Affiliates shall be documented and shall become parts of the records of the Partnership; (b) To borrow from banks and other lenders on such terms and conditions as shall be approved by the General Partner and to secure any such borrowings by mortgaging, pledging or assigning assets and revenues of the Partnership to the extent deemed necessary or desirable by the General Partner; (c) To invest such funds as are temporarily not required for Partnership purposes in short-term debt obligations selected by the General Partner, including government securities, certificates of deposit of commercial banks (domestic or foreign), commercial paper, bankers' acceptances and other money market instruments; and (d) To carry on any other activities necessary to, in connection with or incidental to any of the foregoing.

Partnership Powers. In furtherance of the business purpose specified in Section 2.31.3 of this Agreement, the Partnership, and the General Partner on behalf of the Partnership, shall be empowered to do or cause to be done any and all acts reasonably deemed by the General Partner to be necessary or appropriate in furtherance of the purposes of the Partnership or forbear forebear from doing any act if the General Partner reasonably deems such forbearance necessary or appropriate in furtherance of the purposes of the Partnership, including including, without limitation, the power and authority: (a) To to enter into, perform and carry out contracts and agreements of every kind necessary or incidental to the accomplishment of the Partnership's ’s purposes, including including, without limitation, contracts and agreements with the General Partner and Affiliates of the General Partner, and to take or omit such other or further action in connection with the Partnership's ’s business as may be necessary or desirable in the opinion of the General Partner to further the purposes of the Partnership, ; provided, however, that any transaction between the Partnership and Partners or their Affiliates shall be documented and shall become parts part of the records of the PartnershipPartnership and shall be on terms no less favorable than could be obtained from an unrelated third party on an arms length basis; (b) To to borrow from banks and other lenders on such terms and conditions as shall be approved by the General Partner and to secure any such borrowings by mortgaging, pledging or assigning assets and revenues of the Partnership and/or by causing each Partner to pledge its respective ownership interest in the Partnership to the extent deemed necessary or desirable by the General Partner; (c) To to invest such funds as are temporarily not required for Partnership purposes in short-term debt obligations selected by the General Partner, including government securities, certificates of deposit of commercial banks (domestic or foreign)) , commercial paper, bankers' ’ acceptances and other money market instruments; and (d) To to carry on any other activities necessary to, in connection with or incidental to any of the foregoing.

Partnership Powers. In furtherance of the business purpose specified in Section 2.31.3, the Partnership, and the General Partner on behalf of the Partnership, Partnership shall be empowered to do or cause to be done any and all acts reasonably deemed by the General Partner Partners to be necessary or appropriate in furtherance of the purposes of the Partnership or forbear forebear from doing any act if the General Partner Partners reasonably deems deem such forbearance necessary or appropriate in furtherance of the purposes of the Partnership, including including, without limitation, the power and authority: (a) To enter into, perform and carry out contracts and agreements of every kind necessary or incidental to the accomplishment of the Partnership's purposes, including including, without limitation, contracts and agreements with the General a Partner and any Affiliates of any Partner, and to take or omit such other or further action in connection with the Partnership's business as may be necessary or desirable in the opinion of the General Partner System Manager to further the purposes of the Partnership, ; provided, however, that if any transaction between goods or services are to be provided to the Partnership and Partners by any Partner or their any Affiliates of any Partner not expressly provided for hereunder, such goods or services shall be documented and shall become parts at rates or prices no less favorable to the Partnership than from unrelated third parties in the business of the records of the Partnershipproviding comparable goods or services; (b) To borrow from banks and other lenders on such terms and conditions as shall be approved by the General Partner System Manager and to secure any such borrowings by mortgaging, pledging or assigning assets and revenues of the Partnership to the extent deemed necessary or desirable by the General PartnerSystem Manager; (c) To invest such funds as are temporarily not required for Partnership purposes in short-term debt obligations selected by the General PartnerSystem Manager, including government securities, certificates of deposit of commercial banks (domestic or foreign), commercial paper, bankers' acceptances and other money market instruments; (d) To accept loans from any Partner, that such loans may bear interest or charges in excess of the amount which would be charged to the Partnership on a nonrecourse basis by unrelated banks on comparable loans for the same purpose; and (de) To carry on any other activities necessary to, in connection with or incidental to any of the foregoing.

Partnership Powers. In furtherance of the business purpose specified in Section 2.31.3, the Partnership, and the General Partner on behalf of the Partnership, shall be empowered to do or cause to be done any and all acts reasonably deemed by the General Partner to be necessary or appropriate in furtherance of the purposes of the Partnership or forbear forebear from doing any act if the General Partner reasonably deems such forbearance necessary or appropriate in furtherance of the purposes of the Partnership, including without limitation, the power and authority: (a) To enter into, perform and carry out contracts and agreements of every kind necessary or incidental to the accomplishment of the Partnership's ’s purposes, including including, without limitation, contracts and agreements with the General Partner and Affiliates of the General Partner, and to take or omit such other or further action in connection with the Partnership's ’s business as may be necessary or desirable in the opinion of the General Partner to further the purposes of the Partnership, ; provided, however, that any transaction between the Partnership and Partners or their Affiliates shall be documented and shall become parts part of the records of the Partnership; (b) To borrow from banks and other lenders lenders, either directly or through Affiliates of the General partner, on such terms and conditions as shall be approved by the General Partner and to secure any such borrowings by mortgaging, pledging or assigning assets and revenues of the Partnership to the extent deemed necessary or desirable by the General Partner; (c) To invest such funds as are temporarily not required for Partnership purposes in short-term debt obligations selected by the General Partner, Partner including government securities, certificates of deposit of commercial banks (domestic or foreign), commercial paper, bankers' ’ acceptances and other money market instruments, either directly or through Affiliates of the General Partner; and (d) To carry on any other activities necessary to, in connection with with, or incidental to any of the foregoing.