Common use of Authority of General Partner Clause in Contracts

Authority of General Partner. (a) The management and operation of the Partnership and the formulation of investment policy is vested exclusively in the General Partner, whose sole purpose shall be to serve as the general partner of the Partnership and who shall have the rights and powers which may be possessed by a general partner under the Act, and such rights and powers as are otherwise conferred by law and are necessary, advisable or convenient to the discharge of its duties under this Agreement and to the management of the operations and affairs of the Partnership.

Authority of General Partner. (a) The management and operation of the Partnership and the formulation and execution of investment policy is shall be vested exclusively in the General Partner. The General Partner shall, whose in its sole purpose shall be to serve as discretion, exercise all powers on behalf and in the general partner name of the Partnership and who shall have that the rights and powers which may be possessed by a general partner under General Partner deems appropriate for carrying out the Act, and such rights and powers as are otherwise conferred by law and are necessary, advisable or convenient to the discharge of its duties under this Agreement and to the management of the operations and affairs purposes of the Partnership.