Restrictions on Partners. 21.1 Without the written consent of the other Partner, neither Partner shall:
a) contract to sell, lease, licence, dispose of, pledge, mortgage or charge, or deal in any adverse way with any of the assets or resources owned by the Partnership or made available to the Partnership including the lands;
b) submit a Partnership claim or liability to arbitration;
c) consent to a judgement against the Partnership or any Partner;
d) admit a new member;
e) act as a guarantor for any obligation in the Partnership name;
f) borrow or lend money on behalf of the Partnership:
g) compromise any claim due to the Partnership;
h) hire or dismiss any employee; trainee or apprentice
i) incur expenses for the Partnership in the excess of the sum specified in the On-Farm Agreement.
j) enter into any contract or agreement which may render the Partners at risk of the loss of or liable for any sum or aggregate sum greater than [ ]
k) write-off, cancel or forgive the whole or any part of any debt or sum due to the Partnership in excess of [ ] without the prior written consent of the other Partner.
l) exceed the agreed Off-Farm income m) make an assignment of property for the benefit of creditors;
Restrictions on Partners. Except as expressly provided for in this Agreement, no Partner may (a) in its capacity as a Partner, file or record, or permit to be or remain filed or recorded against any property of the Partnership, any hypothec, mortgage, charge, privilege, lien, security interest or other encumbrance in respect of its interest in the Partnership; or (b) seek to compel a partition or sale, judicial or otherwise, of any property of the Partnership or otherwise require any property of the Partnership to be Distributed to any Partner in kind.
Restrictions on Partners. Hold, in the case of Partners only, any material assets other than the Capital Stock of the Credit Parties and the other Subsidiaries listed on Schedule 6.9 and have, in the case of Partners only, any liabilities other than (a) the liabilities under the Credit Documents, (b) other Indebtedness in existence on the date hereof and refinancings thereof, and (c) tax, routine administrative and other liabilities not constituting Indebtedness, expenses of the types described in clause (d) of the definition of Permitted Restricted Payments, Indebtedness of the types described in clauses (c), (f) and (h) of the definition of Permitted Indebtedness, intercompany liabilities not prohibited hereby and guarantees constituting Permitted Indebtedness, in each case incurred in the ordinary course of business. In the case of Partners only, sell, transfer or otherwise dispose of any Capital Stock in the Credit Parties or such Subsidiaries, or engage in any business other than owning the Capital Stock of the Credit Parties and such Subsidiaries.
Restrictions on Partners. The Partners will not have the authority to enter into any of the following transactions without the consent of 80% of the outstanding ownership interest of the Partners:
(a) Prior to the actual termination of the Partnership, sell substantially all of the Partnership Property in liquidation or cessation of business;
(b) Compromise any claim or dispute having an amount or value in issue in excess of 50% of the total value of the Partnership Property;
(c) Sell, assign, lease, exchange, convert or otherwise transfer or dispose of all or part of the Partnership Property;
(d) Mortgage, pledge, grant a security interest in, or incur, renew, or refinance any indebtedness of the Partnership;
(e) Confess a judgment against the Partnership;
(f) Do any act in violation of this Agreement; and
(g) Make, execute or deliver any assignments for the benefit of creditors.
Restrictions on Partners. This is a menu of fundamental structural “■ ■ ■ ■ ” ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
Restrictions on Partners. No Partner, without the consent of all other Partners, shall:
(a) Sell, assign, mortgage, grant a security interest, or pledge its interest in the Partnership, except in connection with the Fiber Construction Agreements;
(b) Borrow or lend money on behalf of the Partnership, except as set forth in the Fiber Construction Agreements;
(c) Assign, transfer, pledge, compromise, or release any claim of the Partnership except for full payment; or arbitrate, or consent to the arbitration of any of its disputes or controversies;
(d) Use the Partnership's name, credit, or property for any purpose other than a proper Partnership purpose;
(e) Do any act detrimental to the Partnership business or which would make it impossible to carry on that business.
Restrictions on Partners. No Partner including the Managing Partner, unless authorized by a majority of the Partnership Interests of the Partners, shall have the authority to:
(a) assign any property of the Partnership in trust for the creditors of the Partnership or upon the assignee’s promise to pay or discharge all or any of the debts and/or liabilities of the Partnership;
(b) do any act in contravention of this Agreement or which would make it impossible to conduct the business of the Partnership;
(c) confess a judgment against the Partnership;
(d) execute any bond, deed of trust or lien, or pledge or otherwise encumber or grant a security interest in any property of the Partnership, except in the ordinary course of business;
(e) guarantee any payment or performance by any person or entity;
(f) distribute any property of the Partnership, including money, to any Partner;
(g) option, sell, assign, exchange or otherwise transfer any property of the Partnership, except in the ordinary course of business; or
(h) bind or obligate the Partnership with respect to any matter outside the scope of the Partnership business.
Restrictions on Partners. Except in the ordinary course of the Partnership’s business no Partner shall incur in the name or on the credit of the Partnership any obligation(s) which either individually or in the aggregate exceed $5,000.00 without the prior written consent of the other Partner. No Partner shall, without the written consent of the other Partner:
(1) Borrow or lend money on behalf of the Partnership;
(2) Sell, exchange or otherwise dispose of, lease, pledge or mortgage any Partnership property;
(3) Assign, transfer, pledge, compromise, or release any Partnership claim except on payment in full; or
(4) Cause the Partnership to become guarantor, bail, surety, or endorser for any other person or entity (including any Partner). Any loss sustained by the Partnership because of the breach of these provisions by any Partner shall be charged to such Partner’s capital account in the Partnership.
Restrictions on Partners. Except as expressly provided for in Article 11, no Partner shall, without the prior written consent of each of the other Partners, seek to compel a partition or sale, judicial or otherwise, of any property of the Partnership or otherwise require any property of the Partnership to be distributed to any Partner in kind.
Restrictions on Partners. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ :
28.1. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ;
28.2. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ;
28.3. release any debt due to the Partnership;
28.4. ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ;
