Restrictions on Limited Partners. A. No Limited Partner shall participate in the management and control of the business of the Partnership, transact any business for the Partnership, or attempt to do so; and
B. No Limited Partner shall have the power to represent, sign for or bind the General Partner or the Partnership.
Restrictions on Limited Partners. Xxxxxxx Exploration shall not permit either of the Limited Partners to hold any Properties other than the limited partner interests in the Borrower.
Restrictions on Limited Partners. The Limited Partners shall not have the obligation or the right to participate in the control of the Partnership business. A Limited Partner shall not do any act, deed, or thing that will cause the Limited Partner to be classified as a General Partner of the Partnership. However, a Limited Partner may:
Restrictions on Limited Partners. The Partnership Agreement severely restricts the Limited Partners' ability to own interests in competing equipment or ventures, other than interests held by the General Partner or its Affiliates. However, the General Partner may, in its sole discretion, waive the restrictions with respect to interests held by an Investor at the time he becomes a Limited Partner. See "Summary of the Partnership Agreement - Noncompetition Agreement and Protection of Confidential Information." The enforceability of these noncompetition agreements is generally a matter of state law. No assurance can be given that one or more Limited Partners may not successfully compete with the Partnership. See "Competition."
Restrictions on Limited Partners. No Limited Partner shall have the right or power to:
a. Withdraw or reduce his or its Capital Contribution to the Limited Partnership;
b. Cause the termination and dissolution of the Limited Partnership by court decree or otherwise;
c. Have priority over any other Limited Partner either as to the return of Capital Contributions or as to distributions. Other than upon the termination and dissolution of the Limited Partnership as provided by this Agreement, there has been no time agreed upon when the Capital Contribution of each Limited Partner may be returned; or
d. Bring an action for partition against the Limited Partnership.
Restrictions on Limited Partners. (A) No Limited Partner or Assignee shall participate as such in the management and control of the business of the Partnership, transact any business for the Partnership, or attempt to do so, unless such Limited Partner or Assignee is also the General Partner or other Person employed or engaged to transact any such business by or on behalf of the General Partner or the Partnership. The transaction of any such business by a Limited Partner or Assignee employed or engaged to do so by or on behalf of the General Partner or the Partnership shall not affect, impair or eliminate the limitations on the liability of the Limited Partner or Assignee under this Agreement.
(B) No Limited Partner or Assignee shall have the power to represent, sign for or bind a General Partner or the Partnership, unless the Limited Partner or Assignee is also the General Partner or other Person given such power by a General Partner or the Partnership, including, without limitation, a Limited Partner or Assignee given power to act as the Depositary, transfer agent or registrar for the Partnership.
Restrictions on Limited Partners. Except as otherwise -------------------------------- provided in this Section 12.4, in Sections 12.1, 12.2 and 12.3 above, and in Section 12.6 below, no Limited Partner shall have the right to withdraw from the Partnership prior to the dissolution and winding up of the Partnership, and, in the event of a dissolution, only in accordance with Sections 13.2 and 13.3 below. Except as expressly provided in this Section 12.4 and in Sections 5.2, 12.1, 12.2, 12.3 and 12.6, a Limited Partner may not Assign all or any portion of such Limited Partner's interest in the Partnership (as a limited partner). If a Limited Partner is a corporation, trust, or other entity and is dissolved or terminated, the powers of such dissolved Limited Partner may be exercised by its legal representative or its successor. Any Assignment of any of the voting interests of a Limited Partner that is an entity (i.e., is not an individual), or of the general partner in such entity if the Limited Partner is (itself) a limited partnership, shall be treated (in either case) as an Assignment of the entire interest in the Partnership owned by such Limited Partner if, as a result thereof, the Persons who hold a majority of the voting interests in such Limited Partner (or in the general partner of such Limited Partner if the Limited Partner is a limited partnership) as of the date of this Agreement (or if such Limited Partner was admitted as a Partner after the inception of the Partnership, as of the date such Limited Partner was admitted as a Partner in the Partnership) own less than a majority of the voting interests in such Limited Partner (or, if applicable, in the general partner of such Limited Partner) after such Assignment. Each Limited Partner may Assign all or any portion of its interest in the Partnership as a Limited Partner to an Affiliate of such Limited Partner; provided, however, that the transferee of such Limited Partner's interest shall be treated as an assignee of such interest under the Partnership Law and shall not be admitted as an additional Limited Partner unless consented to by the General Partner, which consent may be withheld in the sole discretion of the General Partner. Notwithstanding the foregoing, the restrictions contained in this Section 12.4 upon a transferee being admitted as a successor Limited Partner shall not apply (and such transferee shall automatically be admitted as a successor Limited Partner) for transfers occurring after the Partnership has received th...
Restrictions on Limited Partners. No Limited Partner or Assignee shall participate as such in the management and control of the business of the Partnership, transact any business for the Partnership, or attempt to do so, unless such Limited Partner or Assignee is also the General Partner or other Person employed or engaged to transact any such business by or on behalf of the General Partner or the Partnership. The transaction of any such business by a Limited Partner or Assignee employed or engaged to do so by or on behalf of the General Partner or the Partnership shall not affect, impair or eliminate the limitations on the liability of the Limited Partner or Assignee under this Agreement.
Restrictions on Limited Partners. The Limited Partners do not have either the obligation or the right to take part, directly or indirectly, in the active management or control of the business 346 of the Partnership, except as otherwise permitted in The Agreement and except for the following. 348 (1) A Limited Partner may act as a contractor for or an agent or employee of The Partnership or as officer, director, or employee of The Partnership. 350 (2) A Limited Partner may consult with and advise The General Partner with regard to the business of The Partnership. 352 (3) A Limited Partner may act as surety for The Partnership or guarantee specific debts of The Partnership.
Restrictions on Limited Partners. The Company shall not permit either of the Limited Partners to incur any Indebtedness of more than $1.0 million or to hold any Properties other than the limited partner interests in BOG LP, with a Fair Market Value of more than $1.0 million, unless such Limited Partner first provides a full and unconditional Guarantee on a senior unsecured basis of the Company’s obligations under the Notes and this Indenture to the same extent as that set forth in this Indenture (in which event such Limited Partner shall cease to be a Non-Guarantor Restricted Subsidiary).
