Rights and Duties of the General Partner. Except as otherwise provided herein, the General Partner shall have full, exclusive and complete authority and discretion in the management and control of the business of the Partnership and shall make all decisions affecting the business of the Partnership. Further, the General Partner shall have all of the rights and powers of a general partner as provided in the Act and as otherwise provided by law or this Agreement, and any action taken by the General Partner shall constitute the act of and serve to bind the Partnership. The General Partner shall manage and control the affairs of the Partnership to the best of its ability and shall use its best efforts to carry out the business of the Partnership as set forth in Article II.
Appears in 3 contracts
Samples: Agreement of Limited Partnership (Frost Phillip Md Et Al), Limited Partnership Agreement (Frost Phillip Md Et Al), Limited Partnership Agreement (Frost Phillip Md Et Al)
Rights and Duties of the General Partner. Except as otherwise provided hereinSubject to and in accordance with the terms of applicable law, this Agreement and the Shareholders' Agreement, the General Partner shall undertake and shall have fullexclusive responsibility for the management, exclusive operation and complete authority and discretion in the management and control administration of the business and affairs of the Partnership and shall make have the power and authority to do all decisions affecting things necessary to carry out the business purposes of the Partnership, shall devote as much of its time and attention thereto as shall reasonably be required for the management, operation and administration of the business and affairs of the Partnership and shall operate the Partnership in accordance with this Agreement and the Law. FurtherWithout prejudice to the generality of the foregoing, the General Partner shall have all of the rights and powers of a general partner as provided in the Act and as otherwise provided by law or this Agreement, and any action taken by the General Partner shall constitute the act of and serve to bind the Partnership. The General Partner shall manage and control the affairs of the Partnership to the best of its ability and shall use its best efforts to carry out the business of the Partnership as set forth in Article II.shall:
Appears in 1 contract
Samples: Limited Partnership Agreement
