Common use of Restrictions on the Authority of the General Partner Clause in Contracts

Restrictions on the Authority of the General Partner. (a) Without the unanimous consent of the Limited Partners, the General Partner shall not have the authority to: (i) Do any act in contravention of this Agreement; (ii) Do any act which would make it impossible to carry on the business of the Partnership; (iii) Confess a judgment against the Partnership; (iv) Admit a Person as a General Partner; or (v) Elect to dissolve the Partnership.

Restrictions on the Authority of the General Partner. (a) Without Notwithstanding anything to the unanimous contrary contained in Section 4.1, without the consent of the each Limited PartnersPartner, the General Partner shall not have the authority topower of authority: (ia) Do any act in contravention of this Agreement; (ii) Do any act which would make it impossible to carry on the business of the Partnership; (iii) Confess confess a judgment against the Partnership; (iv) Admit a Person as a General Partner; or (vb) Elect to dissolve the Partnershippossess Partnership property, or assign, pledge or hypothecate its rights in specific Partnership property for other than a Partnership purpose.