Proscriptions. The General Partner shall not have the authority to: (a) Do any act in contravention of this Agreement or which would make it impossible to carry on the ordinary business of the Partnership; (b) Possess any Partnership property or assign rights in specific Partnership property for other than Partnership purposes; or (c) Do any act in contravention of applicable law.
Appears in 4 contracts
Samples: Limited Partnership Agreement (American Real Estate Investment Corp), Limited Partnership Agreement (Prime Retail Inc), Limited Partnership Agreement (American Real Estate Investment Corp)
Proscriptions. The General Partner shall not have the authority to:
(a) Do any act in contravention of this Agreement or which would make it impossible to carry on the ordinary business of the PartnershipAgreement;
(b) Possess any Partnership property or assign rights in specific Partnership property for other than Partnership purposes; or
(c) Do any act in contravention of applicable law. Nothing herein contained shall impose any obligation on any Person doing business with the Partnership to inquire as to whether or not the General Partner has properly exercised its authority in executing any contract, lease, mortgage, deed or any other instrument or document on behalf of the Partnership, and any such Person shall be fully protected in relying upon such authority.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Washington Prime Group Inc.), Limited Partnership Agreement (SPG SpinCo Subsidiary Inc.), Limited Partnership Agreement (Simon Property Group Inc /De/)
Proscriptions. The General Partner shall not have the authority to:
(a) Do any act in contravention of this Agreement or which would make it impossible to carry on the ordinary business of the Partnership;Agreement; or
(b) Possess any Partnership property or assign rights in specific Partnership property for other than Partnership purposes; or
(c) Do any act in contravention of applicable law.
Appears in 1 contract
Samples: Limited Partnership Agreement (Spieker Properties Inc)