Common use of Approval Requirements Clause in Contracts

Approval Requirements. At each meeting of the Partners, a Limited Partner shall be entitled to vote in proportion to the Percentage Interest held by such Limited Partner. Approval by the Limited Partners of any matter shall require the vote of all of the Limited Partners present in person or by proxy and voting at a duly held meeting of the Partners. All resolutions passed by the Limited Partners in a meeting shall be documented in minutes of the meeting prepared and executed by the General Partner, filed with the records of the Partnership and mailed by the General Partner after such meeting to all Limited Partners.