Rights and Obligations of Partners. 4.1 Rights and Obligations of the General Partner. Except as set forth in Section 4.2, in addition to the rights and obligations set forth elsewhere in this Agreement, the General Partner shall have the following rights and obligations:
Rights and Obligations of Partners. 41 Section 7.01 Limitation of Liability and Duties of Partners; Investment Opportunities .........................................................................................41 Section 7.02 Lack of Authority ..................................................................................42 Section 7.03 No Right of Partition .............................................................................42 Section 7.04 Indemnification .....................................................................................42 Section 7.05 Limited Partners’ Right to Act ..............................................................44 Section 7.06 Inspection Rights; Information Rights ..................................................44 Article VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS ..........................................45 Section 8.01
Rights and Obligations of Partners. Section 7.01
Rights and Obligations of Partners. 1 LIMITED LIABILITY.
(a) Each Limited Partner's liability with respect to the Partnership and any subsidiary of the Partnership shall be limited as provided in the Act, this Agreement or any applicable law. A Limited Partner shall not be personally liable for any debts, obligations, liabilities or losses of the Partnership, or of any subsidiary of the Partnership, as the case may be, whether arising in contract, tort or otherwise, beyond its respective Capital Contribution to the Partnership and its pro rata portion of the Partnership's undistributed profits, except as may otherwise be provided for by law. No Partner shall have any liability for the restoration of the deficit of such Partner's Capital Account and the return of the Capital Contribution of any other Partner unless otherwise provided in this Agreement.
(b) The Partners shall not be required to lend any funds to the Partnership. Each Partner shall only be liable to make payment of its respective Capital Contributions as and when due hereunder or as agreed by all of the Partners. If and to the extent a Partner's Capital Contributions shall be fully paid, such Partner shall not, except as required by the express provisions of the Act regarding repayment of sums wrongfully distributed to Partners, be required to make any further contributions to the Partnership or any subsidiary thereof.
Rights and Obligations of Partners. 1. The Beneficiary is obliged to prepare all reports of the project in accordance with the provider's instructions and in accordance with the grant agreement and the TACR GCs. Other participants are obliged to hand over to the beneficiary according to his instructions and within the deadlines set by him the documents for the preparation of these reports.
2. The Beneficiary is obliged to continuously submit to the other participants draft contracts, amendments to contracts and other documentation, created between the Provider and the Beneficiary and relating to the project or related to another participant.
3. The other participants 1, 2, and 3 are obliged to adequately comply, insofar as applicable, with all obligations set out in Article 4 of the TAČR GCs and to provide necessary cooperation to the beneficiary to allow the latter to comply with its obligations under the TACR GCs.
4. The other participants 1, 2, and 3 are obliged to inform the beneficiary of all changes concerning their legal status and of any other changes and facts that could affect implementation, execution and objectives of the project and which occurred as from the date of entry into force of the contract, no later than 14 days from the date on which the other participants 1, 2, and 3 became aware of such a change or fact. If the other participants 1, 2, and 3 do not inform the recipient according to the previous sentence, it will be considered a serious breach of contractual obligation.
5. Each other participant 1, 2, or 3 is obliged to return the part of the Grant provided to it by the beneficiary, within 30 days from the date of notification, or from the date when such notification was due, under the previous paragraph, in case the other participants concerned will no longer be able to fulfill its obligations arising from this contract. The other participant concerned is not obliged to return to the beneficiary the part of the Grant which was duly used by this other participant until the sending of the notification under this paragraph for the project implementation.
6. The other participants 1, 2, and 3 are obliged to enable the provider and the beneficiary or their authorized persons, at their own expense, to perform a comprehensive control of both project results and accounting records and the use of their part of the Grant provided for the execution and implementation of their part of the project from the Grant at any time during the project and also within 10 years from the en...
Rights and Obligations of Partners. 19 ----------------------------------
Rights and Obligations of Partners. 4.1 Management of Partnership 10 4.2 Management Committee 10
Rights and Obligations of Partners. 4.1 Management of Partnership 10 4.2 Management Committee 10
4.3 Major Decisions 12 4.4 Budgets and Reports 12
4.5 Powers of the Operating Partner 12 4.6 Liability of Partners 13
4.7 Other Activities of Partners 13 ARTICLE 5 Exculpation and Indemnity 5.1 Exculpation 13 5.2 Indemnity 13 ARTICLE 6 Distributions and Allocations
6.1 Distributions 14
6.2 Tax Allocations 14
Rights and Obligations of Partners. 4.1 Management of Partnership......................... 11
Rights and Obligations of Partners. 5.1 LIMITED PARTNERS The Limited Partners shall be limited partners within the meaning of the Partnership Act. The Limited Partners as such shall not be bound by the obligations of the Partnership and shall not be obligated to make contributions to the Partnership in excess of the amounts provided for in this Agreement. The Limited Partners shall not be entitled to participate in the management and control of the Partnership and shall have no authority to act for or bind the Partnership.
