Role of Limited Partners and the Special Limited Partner. Except to the extent provided in this Agreement, neither the Limited Partners nor the Special Limited Partner shall participate in or have any control whatsoever over the Partnership’s business or have any authority or right to act for or bind the Partnership. The authority to conduct the business of the Partnership shall be exercised only by the General Partner. Each Limited Partner and the Special Limited Partner hereby consents to the exercise by the General Partner of the powers conferred on it by this Agreement, subject to the restrictions and limitations set forth in this Agreement or the Act.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Industrial Property Trust Inc.), Limited Partnership Agreement (Industrial Property Trust Inc.), Limited Partnership Agreement (Industrial Property Trust Inc.)
Role of Limited Partners and the Special Limited Partner. Except to the extent provided in this Agreement, neither the Limited Partners nor the Special Limited Partner shall participate in or have any control whatsoever over the Partnership’s business or have any authority or right to act for or bind the Partnership. The authority to conduct the business of the Partnership shall be exercised only by the General Partner. Each Limited Partner and the Special Limited Partner hereby consents to the exercise by the General Partner of the powers conferred on it by this Agreement, subject to the restrictions and limitations set forth in this Agreement or the Act..
Appears in 1 contract
Samples: Limited Partnership Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)
Role of Limited Partners and the Special Limited Partner. Except to the extent provided in this Agreement, neither the Limited Partners nor the Special Limited Partner shall participate in or have any control whatsoever over the Partnership’s business or have any authority or right to act for or bind the Partnership. The authority to conduct the business of the Partnership shall be exercised only by the General Partner. Each Limited Partner and the Special Limited Partner hereby consents to the exercise by the General Partner of the powers conferred on it by this Agreement, subject to the restrictions and limitations set forth in this Agreement or the Act..
Appears in 1 contract
Samples: Limited Partnership Agreement (BLACK CREEK INDUSTRIAL REIT IV Inc.)
