Common use of Appointment of Managing General Partner Clause in Contracts

Appointment of Managing General Partner. The General Partners, if there are more than one General Partner, may appoint one of the General Partners to serve as the Managing General Partner. As between the General Partners, the Managing General Partner will have the right to make all decisions, execute all documents and take all action on behalf of the Partnership, except as otherwise expressly provided by this Agreement. The Managing General Partner will be Xxxxxx X. Xxxxxx, and he hereby accepts his appointment as such. Xxxxxx X. Xxxxxx will continue to serve as the Managing General Partner so long as he is a General Partner or does not resign as the Managing General Partner. If Xxxxxx X. Xxxxxx is no longer serving as Managing General Partner and has not otherwise designated his successor, then the successor Managing General Partner will be the Trustee of the Xxxxxx X. Xxxxxx Revocable Trust dated April 3, 1995, and as it has been and may be subsequently amended (hereinafter “Xxxxxx X. Xxxxxx Revocable Trust”).

Appointment of Managing General Partner. The General Partners, if there are more than one General Partner, may appoint one of the General Partners to serve as the Managing General Partner. As between the General Partners, the Managing General Partner will have the right to make all decisions, execute all documents and take all action on behalf of the Partnership, except as otherwise expressly provided by this Agreement. The Managing General Partner will be Xxxxxx Sxxxxx X. Xxxxxx, and he hereby accepts his appointment as such. Xxxxxx Sxxxxx X. Xxxxxx will continue to serve as the Managing General Partner so long as he is a General Partner or does not resign as the Managing General Partner. If Xxxxxx Sxxxxx X. Xxxxxx is no longer serving as Managing General Partner and has not otherwise designated his successor, then the successor Managing General Partner will be the Trustee of the Xxxxxx Sxxxxx X. Xxxxxx Revocable Trust dated April 3, 1995, and as it has been and may be subsequently amended (hereinafter “Xxxxxx Sxxxxx X. Xxxxxx Revocable Trust”).