Common use of RIGHTS, POWERS AND DUTIES OF PARTNERS Clause in Contracts

RIGHTS, POWERS AND DUTIES OF PARTNERS. Section 5.1 Management and Control of the Partnership; Tax Matters Partner A. Subject to the Consent of the Investors when required by this Agreement, the General Partners shall have the exclusive right to manage and control the business of the Fund. Except as otherwise provided herein, decisions to be made by the General Partners shall be made by the joint agreement of the Administrative General Partner and the Development General Partner. B. Except as otherwise provided herein, the Fund shall be bound by the signature of any General Partner. C. No Limited Partner or Investor (except one who may also be a General Partner, and then only in his capacity as General Partner) shall have the right to participate in the control of the business of the Fund, or have any authority or right to act for or bind the Fund.