Powers Rights and Duties of the General Partner Sample Clauses

Powers Rights and Duties of the General Partner. (a) Authority Of The General Partner. The general partner shall diligently apply itself in and about the business of the Partnership. Except as specifically otherwise set forth in this Agreement the general partner shall have full, exclusive and complete authority and discretion in the management and control of the Partnership business and shall make all decisions affecting the Partnership business. The general partner shall manage and control the affairs of the Partnership to the best of its abilities and shall use its best efforts to carry out the Partnership business. The rights, powers and duties of the general partner include, but are not limited to, the following:
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Powers Rights and Duties of the General Partner. 15.1 Except as otherwise required by law and except when the consent of the Limited Partners is expressly required by this Agreement, the General Partners shall have exclusive authority to manage the operations and affairs of the Partnership and to make all decisions regarding the business of the Partnership. Pursuant to the foregoing, it is understood and agreed that the General Partners shall have all of the rights and powers of general partners as provided in the Act and as otherwise provided by law, and any action taken by the General Partners shall constitute the act of and serve to bind the Partnership. Without limiting the generality of the foregoing, the General Partners may cause the Partnership to buy, sell and hold assets, hire and fire employees and become a partner, stockholder or other owner of other entities.
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Powers Rights and Duties of the General Partner. The LPA will set out the rights and duties of the general partner and authorise the general partner to do everything necessary to operate the partnership, including appointing an investment manager and representing the partnership in its dealings with the manager. The framework within which the general partner must operate may include restrictions on what investments the partnership can make (for example, restricting investments to certain geographical regions) and on the maximum size of an investment (often expressed as a percentage of the total funds raised) in order to ensure the agreed spread of investments. The general partner will need to be properly authorised by regulatory authorities to carry out its duties within the jurisdictions in which it operates, or will need to appoint an authorised investment manager to carry out those functions on its behalf.
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Powers Rights and Duties of the General Partner 
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Related to Powers Rights and Duties of the General Partner

  • Rights Obligations and Powers of the General Partner 6.1 Management of the Partnership.

  • Outside Activities of the General Partner (a) Without the Consent of the Limited Partners, the General Partner shall not directly or indirectly enter into or conduct any business other than in connection with the ownership, acquisition, and disposition of Partnership Interests and the management of its business and the business of the Partnership, and such activities as are incidental thereto.

  • Rights and Duties of Members Subject to the provisions of Article 3, members will have all of the rights and powers of members as provided under the Act and as otherwise provided by law.

  • Powers of the General Partner Subject to the limitations set forth in this Agreement, the General Partner will possess and may exercise all of the powers and privileges granted to it by the Act including, without limitation, the ownership and operation of the assets contributed to the Partnership by the Partners, by any other Law or this Agreement, together with all powers incidental thereto, so far as such powers are necessary or convenient to the conduct, promotion or attainment of the purpose of the Partnership set forth in Section 2.06.

  • Powers and Duties of the Trustee The rights, powers, duties and authorities of the Trustee under this Agreement, in its capacity as Trustee of the Trust, shall include:

  • Removal of the General Partner The General Partner may be removed if such removal is approved by the Unitholders holding at least 66 2/3% of the Outstanding Units (including Units held by the General Partner and its Affiliates) voting as a single class. Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the Unitholders holding a majority of the outstanding Common Units voting as a class and Unitholders holding a majority of the outstanding Subordinated Units (if any Subordinated Units are then Outstanding) voting as a class (including, in each case, Units held by the General Partner and its Affiliates). Such removal shall be effective immediately following the admission of a successor General Partner pursuant to Section 10.2. The removal of the General Partner shall also automatically constitute the removal of the General Partner as general partner or managing member, to the extent applicable, of the other Group Members of which the General Partner is a general partner or a managing member. If a Person is elected as a successor General Partner in accordance with the terms of this Section 11.2, such Person shall, upon admission pursuant to Section 10.2, automatically become a successor general partner or managing member, to the extent applicable, of the other Group Members of which the General Partner is a general partner or a managing member. The right of the holders of Outstanding Units to remove the General Partner shall not exist or be exercised unless the Partnership has received an opinion opining as to the matters covered by a Withdrawal Opinion of Counsel. Any successor General Partner elected in accordance with the terms of this Section 11.2 shall be subject to the provisions of Section 10.2.

  • Liability of the General Partner A. Notwithstanding anything to the contrary set forth in this Agreement, none of the General Partner nor any of its officers, directors, agents or employees shall be liable or accountable in damages or otherwise to the Partnership, any Partners or any Assignees, or their successors or assigns, for losses sustained, liabilities incurred or benefits not derived as a result of errors in judgment or mistakes of fact or law or any act or omission if the General Partner acted in good faith.

  • Duties of General Partner The General Partner agrees that it shall at all times:

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