Authority of Managing Partner. (a) No Person dealing with the Partnership shall be required to inquire into the authority of the Managing Partner or the Designate to take any action or to make any decision in the name of the Partnership, including the authority of the Managing Partner or the Designate to do any matter or enter into any agreement in respect of any matter.
Authority of Managing Partner. The Managing Partner shall have the sole authority and discretion to deal with all matters and questions in connection with the performance of the LAX concession contract. The Managing Partner shall have the full and complete authority to act on behalf of the Joint Venture in relation to any and all matters and things in connection with such contract or arising from it, and to act for and by the Joint Venture in all matters and things involving the performance of the LAX concession contract. The Managing Partner shall serve without a fee or other compensation. The authority and discretion of the Managing Partner shall be limited to the extent that the activities of the Joint Venture shall be directed in a manner that will give as full and complete effect as possible to the franchise and related and collateral agreements which the Joint Venturers individually and collectively have with SSI. The Managing Partner shall have authority to bind the Joint Venture to contracts or transactions not exceeding an obligation of the Joint Venture of $10,000 for any single, contract or transaction; any contract or transaction with an obligation of the Joint Venture exceeding $10,000 shall require the signature of both the Managing Partner and the Secretary.
Authority of Managing Partner. Without limiting the general authority ----------------------------- of the Managing Partner, the Managing Partner shall be authorized to appoint agents, retain legal counsel and auditors, contract for professional services, maintain bank accounts, deposit and draw checks, arrange for the taking and holding of title to assets, make elections available to the Partnership and file tax returns under Federal and state tax laws, take custody of investments or appoint custodians for the same, vote the Partnership's interest in other entities, and execute agreements and contracts.
Authority of Managing Partner. 28 5.2 Advisory Committee.............................................................................34 5.3 No Management by Limited Partner...............................................................35 5.4 Operating and Capital Expenditure Budgets......................................................35 5.5
Authority of Managing Partner. The Managing Partner shall have the sole and exclusive right to manage the business of the Partnership and the Managing Partner shall have all of the rights and powers that may be possessed by the Partners in that regard under the Partnership Act (Alberta) and/at law. All decisions and actions taken by the Managing
Authority of Managing Partner
