Status of Limited Partner. (a) The Limited Partner shall not participate in the management or control of the Partnership’s business, nor shall it transact any business for the Partnership, nor shall it have the power to act for of bind the Partnership, such powers being vested solely and exclusively in, the General Partner. (b) No Limited Partner shall have any personal liability whatever, whether to the Partnership, to any of the Partners or to the creditors of the Partnership, for the debts of the Partnership or any of its losses except to the extent provided in the Act.
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Samples: Limited Partnership Agreement (Hughes MRO, Ltd.), Limited Partnership Agreement (Hughes MRO, Ltd.), Limited Partnership Agreement (Hughes MRO, Ltd.)
Status of Limited Partner. (a) The Limited Partner Partners shall not participate in the management or control of the Partnership’s business, nor shall it transact any business for the Partnership, nor shall it have the power to act for of bind the Partnership, such powers being vested solely and exclusively in, the General Partner.
(b) No Limited Partner shall have any personal liability whatever, whether to the Partnership, to any of the Partners or to the creditors of the Partnership, for the debts of the Partnership or any of its losses except to the extent provided in the Act.
Appears in 5 contracts
Samples: Agreement of Limited Partnership (HSI IP, Inc.), Limited Partnership Agreement (HSI IP, Inc.), Limited Partnership Agreement (HSI IP, Inc.)
Status of Limited Partner. (a) The Limited Partner shall not participate in the management or control of the Partnership’s business, nor shall it transact any business for the Partnership, nor shall it have the power to act for of or bind the Partnership, such powers being vested solely and exclusively in, in the General Partner.
(b) No Limited Partner shall have any personal liability whatever, whether to the Partnership, ; to any of the Partners or to the creditors of the Partnership, for the debts of the Partnership or any of its losses except to the extent provided in the Act.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Hughes Water & Sewer, LTD), Limited Partnership Agreement (Hughes MRO, Ltd.)
Status of Limited Partner. (a) The Limited Partner shall not participate in the management or control of the Partnership’s 's business, nor shall it transact any business for the Partnership, nor shall it have the power to act for of or bind the Partnership, such powers being vested solely and exclusively in, in the General Partner.
(b) No Limited Partner shall have any personal liability whatever, whether to the Partnership, to any of the Partners or to the creditors of the Partnership, for the debts of the Partnership or any of its losses except to the extent provided in the Act.
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Status of Limited Partner. (a) The Limited Partner Partners shall not participate in the management or control of the Partnership’s business, nor shall it transact any business for the Partnership, nor shall it have the power to act for of or bind the Partnership, such powers being vested solely and exclusively in, in the General Partner.
(b) No Limited Partner shall have any personal liability whatever, whether to the Partnership, to any of the Partners or to the creditors of the Partnership, for the debts of the Partnership or any of its losses except to the extent provided in the Act.
Appears in 1 contract
