The Limited Partners. The Limited Partners shall not participate in any way in the control or management of the business of the Partnership. The Limited Partners are not agents of the Partnership and do not have authority to act for, or bind, the Partnership in any matter.
The Limited Partners. (i) acknowledge that the General Partner and its Affiliates and their respective stockholders, members, managers, employees and agents are or may be involved in other financial, investment and professional activities, including: management of or participation in other investment funds; venture capital, private equity and secondary investing; purchases and sales of Securities; investment and management counseling; otherwise making investments or presenting investment opportunities to third parties; and serving as officers, directors, advisors, consultants and agents of other entities; and (ii) agree that the General Partner and its Affiliates and their respective stockholders, members, managers, employees and agents may engage for the accounts of others in any such ventures and activities (without regard to whether the interests of such ventures and activities conflict with those of the Partnership). The Partnership or any Limited Partner shall not have any right, by virtue of this Agreement or the existence of the Partnership or otherwise, in and to such ventures or activities or to the income or profits derived therefrom, and the General Partner and its Affiliates and their respective stockholders, members, managers, employees and agents shall have no duty or obligation to make any reports to the Limited Partners or the Partnership with respect to any such ventures or activities.
The Limited Partners. 11 3.1 No Participation in Management, etc............................. 11 3.2
The Limited Partners. 7.1 Limitations Regarding the Liability and Authority of the Limited Partners. No Limited Partner, as such, shall be personally liable for any of the debts of the Partnership, except (1) to the extent of its unpaid Commitment that has been called by the General Partner pursuant to the express terms hereof, and (2) to the extent that the law requires otherwise. The Partners intend to confer upon each Limited Partner the most complete limitation on liability permitted by law, and in connection therewith, and subject to the voting procedures and requirements set forth in this Agreement, hereby grant express authorization to the Limited Partners to maintain their limited liability hereunder in connection with all activities permitted of limited partners under the Texas Revised Limited Partnership Act, particularly Section 3.03(b), as it may be amended or interpreted. No Limited Partner, as such, shall take an active role in the management of the business or transact any business on behalf of the Partnership other than as expressly permitted by the Texas Revised Limited Partnership Act, or be entitled to any priority over any other Limited Partner.
The Limited Partners. No Limited Partner shall take part in the control or management of the business of the Partnership or transact any business in the name of the Partnership. No Limited Partner shall be subject to calls or assessments for cash contributions nor shall any Limited Partner in his capacity as such be bound by, or be personally liable for, any expense, liability or obligation of the Partnership, except to the extent of his contribution to the capital of the Partnership as adjusted and reflected in his Capital Account. The General Partner may be removed without cause by the affirmative vote of the holders of a majority of the Units outstanding. Expenses incurred in the removal, or attempted removal, of the General Partner shall be deemed expenses of the Partnership.
The Limited Partners. Section 8.1. No Authority Vested in Limited Partners. Except for such matters, if any, as by the non-waivable provisions of the Act or by the Certificate or by this Agreement are directed or required to be exercised and done by the Limited Partners, the Limited Partners shall have no authority to act on behalf of or bind the Partnership or to vote on, approve or consent to any matter. The Limited Partners shall have no authority to remove the General Partner.
The Limited Partners. TCC and Lehigh shall be the limited partners of the Partnership.
The Limited Partners. TLCC LP and Lehigh LP shall be the limited partners of the Partnership."
The Limited Partners. The Limited Partners have contributed the property described in Exhibit A, the Net Asset Value of which property is also set forth on Exhibit A. Each Limited Partner shall receive the number of Units and be entitled to the Percentage Interest set forth on Exhibit A. No Limited Partner shall be obligated to make any additional capital contributions and shall not be obligated to restore or eliminate any negative balance in such Limited Partner's Capital Account.
The Limited Partners. The Limited Partners shall not take part in the management or control of the business of the Partnership, shall not transact any business for the Partnership and shall not have the power to act for or bind the Partnership, said powers being vested solely and exclusively in the General Partner. No Limited Partner in its capacity as a Limited Partner shall maintain any action for partition or sale with respect to interests of the Partnership in real or personal property. The General Partner and each Limited Partner may engage in or hold an interest in any other business, venture, investment, or activity, whether or not similar to or competitive with the business. A Limited Partner shall not at any time sell, transfer, assign, mortgage, charge, encumber or otherwise dispose (“Transfer”) of the whole or any part of its Partnership Units without the express written consent of the General Partner, which may be withheld or conditioned in the sole discretion of the General Partner, with the following exceptions:
