Common use of Restrictions on Partners Clause in Contracts

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;