Relationships with Affiliates. The Partnership may enter into any agreement or contract with the General Partner, any Person who is an Affiliate of the General Partner, any Limited Partner, any Affiliate of a Limited Partner, or any agent of the General Partner or the Partnership without the prior approval of any other Partners, provided that any such agreement or contract shall contain substantially such terms and conditions as would be contained in a similar agreement or contract entered into by the Partnership as the result of arm’s-length negotiations from a comparable unaffiliated disinterested third party.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Environtech Inc.), Limited Partnership Agreement (Environtech Inc.), Limited Partnership Agreement (Environtech Inc.)
Relationships with Affiliates. The Partnership may enter into any agreement or contract with the General Partner, any Person who is an Affiliate of the General Partner, any Limited Partner, any Affiliate of a Limited Partner, or any agent of the General Partner or the Partnership without the prior approval of any other Partners, provided that any the General Partner shall have determined, in the General Partner's sole discretion, that such agreement or contract shall contain substantially such terms and conditions as would be contained in a similar agreement or contract entered into by the Partnership as the result of arm’s-length negotiations from a comparable unaffiliated disinterested third partyis reasonable.
Appears in 1 contract
Samples: Limited Partnership Agreement (Panhandle Eastern Pipe Line Co Lp)