Common use of Authority of the General Partner Clause in Contracts

Authority of the General Partner. In the case wherein the Board is unable to exercise its management power as provided in Section 5.1 above, the General Partner shall have the power on behalf and in the name of the Partnership to manage and control the business and affairs of the Partnership. The Limited Partner agrees that all determinations, decisions and actions made or taken by the General Partner shall be conclusive and absolutely binding upon the Partnership, the Limited Partner and their respective successors, assigns and personal representatives. Notwithstanding the provisions of Sections 5.4(a) and 5.4(b), the General Partner may take such action without a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, shall be signed by the General Partner. An original or copy of any such consent shall be inserted in the record of the proceedings of the Partners.

Authority of the General Partner. In the case wherein the Board is unable to exercise its management power as provided in Section 5.1 above, the General Partner shall have the power on behalf and in the name of the Partnership to manage and control the business and affairs of the Partnership. The Limited Partner agrees that all determinations, decisions and actions made or taken by the General Partner shall be conclusive and absolutely binding upon the Partnership, the Limited limited Partner and their respective successors, assigns and personal representatives. Notwithstanding the provisions of Sections 5.4(a) and 5.4(b), the General Partner may take such action without a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, shall be signed by the General Partner. An original or copy of any such consent shall be inserted in the record of the proceedings of the Partners.

Authority of the General Partner. In the case wherein the Board is unable to exercise its management power as provided in Section 5.1 above, the General Partner shall have the power on behalf and in the name of the Partnership to manage and control the business and affairs of the Partnership. The Limited Partner agrees that all determinations, decisions and actions made or taken by the General Partner shall be conclusive and absolutely binding upon the Partnership, the Limited Partner and their respective successors, assigns and personal representatives. Notwithstanding the provisions of Of Sections 5.4(a) and 5.4(b), the General Partner may take such action without a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, shall be signed by the General Partner. An original or copy of any such consent shall be inserted in the record of the proceedings of the Partners.

Authority of the General Partner. In the case wherein the Board is unable to exercise its management power as provided in Section 5.1 above, the General Partner shall have the power on behalf and in the name of the Partnership to manage and control the business and affairs of the Partnership. The Limited Partner agrees that all determinations, decisions and actions made or taken by the General Partner shall be conclusive and absolutely binding upon the Partnership, the Limited Partner and their respective successors, assigns and personal representatives. Notwithstanding the provisions of Sections 5.4(a) and 5.4(b5,4(b), the General Partner may take such action without a meeting, without prior notice and without a vote if a consent or consents in writing, setting forth the action so taken, shall be signed by the General Partner. An original or copy of any such consent shall be inserted in the record of the proceedings of the Partners.