Powers of Limited Partners. No Limited Partner, as such, shall take part in or interfere in any manner with the management, conduct or control of the business or affairs of the Partnership, or have any right or authority to enter into any letter, contract, agreement, deed, instrument or document whatsoever on behalf of the Partnership, or otherwise act for or bind the Partnership. In addition, to the extent permitted by applicable law, no Limited Partner shall have the right or power to bring an action for partition against the Partnership or cause the termination and dissolution of the Partnership, except as set forth in this Agreement. For the avoidance of doubt, this Agreement does not grant any Limited Partner any rights as a partner of any Fund or any ability to direct any entity which controls such Fund.
Powers of Limited Partners. The Limited Partners shall not participate in the control of the Partnership and shall have no authority to act for or bind the Partnership.
Powers of Limited Partners. Except as otherwise specifically provided by this Agreement or required by the Delaware Act, no Person other than the General Partner, including any Limited Partner acting in its capacity as such, (a) shall have any right to "participate in the control of the business" of the Partnership as such phrase is construed under Section 17-303(b) of the Delaware Act, (b) shall have the power to be an agent of the Partnership or (c) shall take any action or exercise any right with respect to the Partnership not permitted to be taken or exercised by a Limited Partner pursuant to this Agreement and Section 17-303 of the Delaware Act. In no event shall any Person, other than the General Partner, have any right, power or authority (1) to transact any business in the name of the Partnership, (2) to act for, or on behalf of, the Partnership or (3) to bind the Partnership, such powers being vested solely and exclusively in the General Partner.
Powers of Limited Partners. 11 Section 5.2 No General Partner Liability.......................................12 Section 5.3 Actions of the Limited Partners....................................12 Section 5.4 Partition..........................................................12 Section 5.5 Withdrawal.........................................................12 Section 5.6 Removal of the General Partner by Limited Partners.................12 Section 5.7 Bankruptcy, Resignation, Withdrawal, Etc. of General Partner.......12
Powers of Limited Partners. 33 6.4 Continuity Mode........................................................... 33 6.5 Payment of Fees and Expenses.............................................. 34
Powers of Limited Partners. No Limited Partner as such shall take part in or interfere in any manner with the management, conduct or control of the business or affairs of the Partnership or have any right or authority to act for or bind the Partnership.
Powers of Limited Partners. 4 Section 2.03. Reliance by Third Parties ................................................................. 4 Section 2.04. Activities of the General Partner and Affiliates........................ 4 Section 2.05. Indemnification o f the General Partner....................................... 5 Section 2.06. General Partner Compensation............................... 6 Section 2.07. Expenses............................................................................................................ 6 ARTICLE III Capital Accounts of Partners and Operation Thereof ........................ 7 Section 3.01. Capital Contributions................................................................................. 7 Section 3.02. Capital Accounts ............................................................................................... 8 Section 3,03. General Partner’s Net Worth .......... 8 Section 3.04. Partnership Percentages...................................................................... 8 Section 3.05. Net Asset Value, Net Gain and Net Loss 8 Section 3.06. Valuation of Securities 9 Section 3.07. Economic Allocations Net Gains and Net Losses shall be allocated among the Partners as follows:................. 9 Section 3.08. Allocations for Tax Purposes....................... 10 Section 3.09. Determination by General Partner of Xxxxxxx X atters 10 Section 3.10. Adjustment of Basis of Partnership Property 10 Section 3.11. Taxes W ithheld 10
Powers of Limited Partners. A Limited Partner may exercise all rights or powers provided to limited partners under the Limited Partnerships Act, except to the extent inconsistent with, or contrary to, this Agreement. A Limited Partner, in its capacity as a limited partner, may not:
(a) take part in the management or control of the business or affairs of the Partnership or exercise any power in connection therewith;
(b) transact any business for the Partnership, including executing any document which binds or purports to bind any other Partner or the Partnership or hold itself out as having the power or authority to bind any other Partner or the Partnership;
(c) have any authority or power to act for or undertake any obligation or responsibility on behalf of any other Partner or the Partnership; or
(d) partition or seek to partition, whether by order of any court or otherwise, any of the Partnership Assets.
Powers of Limited Partners. The Limited Partners shall take no part in the conduct or control of the Partnership's business and shall have no authority or power to act for or bind the Partnership. The Limited Partners shall nevertheless retain all rights afforded to them by the District of Columbia Limited Partnership Act or otherwise provided by this Agreement.
Powers of Limited Partners. The Limited Partners have only the powers set forth in this Agreement and any additional powers provided by law. Subject to the foregoing sentence, any resolution passed in accordance with this Agreement is binding on all the Partners and their respective heirs, executors, administrators, successors and assigns, whether or not any such Partner was present in person or voted against any resolution so passed.
