Purposes of Partnership; Authorized Acts. (a) Purposes of the partnership are to
(i) acquire, operate, manage and perform all matters necessary and attendant to the operation of one or more radio stations in Duvax Xxxnty, Florida,
(ii) invest in, own, sell, acquire, manage and exercise the voting rights associated with Marketable Securities,
(iii) acquire, hold, sell, own, improve, develop or lease other types of real and personal property, and
(iv) engage in any other lawful activity for profit approved by an affirmative vote of a Majority in Interest.
(a) Notwithstanding Section 7, unless unanimously approved by the Partners, the Partnership shall not engage in any activity(ies) which would result, based upon opinion of tax counsel, in the characterization of the Partnership as an investment company as that term is used in Section 721(b) or any successor provision of the Code.
B. In furtherance of its purposes, but subject to every other provision of this Agreement, the Partnership is authorized to do the following:
(a) acquire by purchase, lease or otherwise, any real or personal, tangible or intangible property that may be necessary, convenient or incidental to the accomplishment of the purposes of the Partnership;
(b) construct, operate, maintain, finance, improve, own, sell, convey, exchange, assign, mortgage or lease any property (or a part thereof) as may be necessary, convenient or incidental to the accomplishment of the purposes of the Partnership;
(c) borrow money and issue evidences of indebtedness in furtherance of any purpose of the Partnership and secure the same by a mortgage, pledge, security interest or other liens on the property, any part thereof, any interest therein or on any improvements thereto;
(d) prepay, in whole or in part, refinance, increase, renew, modify or extend any indebtedness of the Partnership and, in connection therewith, extend, renew or modify any mortgage, pledge, security interest or other lien affecting any property;
(e) invest and reinvest the assets of the Partnership in, and purchase, acquire, hold, sell, transfer and exchange securities of all kinds;
(f) lend money to Partners;
(g) exercise the voting rights associated with property owned by the Partnership; and
(h) enter into any activity and perform and carry out any contract in connection with, or necessary or incidental to, the accomplishment of the purposes of the Partnership.
Purposes of Partnership; Authorized Acts. (a) Purposes of the partnership are to
(i) acquire, operate, manage and perform all matters necessary and attendant to the operation of one or more radio stations in Florida,
(ii) invest in, own, sell, acquire, manage and exercise the voting rights associated with Marketable Securities,
(iii) acquire, hold, sell, own, improve, develop or lease other types of real and personal property, and
(iv) engage in any other lawful activity for profit approved by an affirmative vote of a Majority in Interest.
(i) Notwithstanding Section 7, unless unanimously approved by the Partners, the Partnership shall not engage in any activity(ies) which would result, based upon opinion of
Purposes of Partnership; Authorized Acts. (a) Purposes of the partnership are to
(i) acquire, operate, manage and perform all matters necessary and attendant to the operation of one or more radio stations in Duvax Xxxnty, Florida,
(ii) invest in, own, sell, acquire, manage and exercise the voting rights associated with Marketable Securities,
(iii) acquire, hold, sell, own, improve, develop or lease other types of real and personal property, and
(iv) engage in any other lawful activity for profit approved by an affirmative vote of a Majority in Interest.
(i) Notwithstanding Section 7, unless unanimously approved by the Partners, the Partnership shall not engage in any activity(ies) which would result, based upon opinion of tax counsel, in the characterization of the Partnership as an investment company as that term is used in Section 721(b) or any successor provision of the Code.
B. In furtherance of its purposes, but subject to every other provision of this Agreement, the Partnership is authorized to do the following:
(a) acquire by purchase, lease or otherwise, any real or personal, tangible or intangible property that may be necessary, convenient or incidental to the accomplishment of the purposes of the Partnership;
(b) construct, operate, maintain, finance, improve, own, sell, convey, exchange, assign, mortgage or lease any property (or a part thereof) as may be necessary, convenient or incidental to the accomplishment of the purposes of the Partnership;
(c) borrow money and issue evidences of indebtedness in furtherance of any purpose of the Partnership and secure the same by a mortgage, pledge, security interest or other liens on the property, any part thereof, any interest therein or on any improvements thereto;
(d) prepay, in whole or in part, refinance, increase, renew, modify or extend any indebtedness of the Partnership and, in connection therewith, extend, renew or modify any mortgage, pledge, security interest or other lien affecting any property;
(e) invest and reinvest the assets of the Partnership in, and purchase, acquire, hold, sell, transfer and exchange securities of all kinds;
(f) lend money to Partners;
(g) exercise the voting rights associated with property owned by the Partnership; and
(h) enter into any activity and perform and carry out any contract in connection with, or necessary or incidental to, the accomplishment of the purposes of the Partnership.
