Authority and Duties of General Partner Sample Clauses

Authority and Duties of General Partner. The General Partner shall have full charge of the management, conduct and operation of the Partnership business in all respects and in all matters, including, but not limited to, full power and authority (i) to determine all matters relating to the conduct and management of the Partnership business and its winding up, (ii) to take all of the actions, in the name and on behalf of the Partnership, set forth in or contemplated by Section 2.3 or incidental thereto, (iii) to act as tax matters partner of the Partnership, as more fully described in Section 8.7, (iv) to make any and all filings necessary or, in the General Partner’s sole discretion, appropriate under federal and state securities and other laws, and (v) to assume and exercise all powers and responsibilities granted to a general partner under the Act. The General Partner shall devote to the affairs of the Partnership such time as it, in its absolute discretion, deems necessary for the proper performance of its duties. All decisions to be made or actions to be taken by the General Partner hereunder shall, if at any time and from time to time there is more than one General Partner, be made or taken by those General Partners owning a majority in Percentage Interest in the Partnership then held by all of the General Partners.
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Authority and Duties of General Partner. The General Partner shall exercise ordinary business judgment in managing the affairs of the Partnership.
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Related to Authority and Duties of General Partner

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