Common use of Board Governance Clause in Contracts

Board Governance. As set forth in Section 5.1, the Board has sole right and authority to manage the Company’s business and affairs and make all decisions and take all actions for the Company except for the Board Governance Exceptions. In furtherance of the foregoing, the Unitholders have no voting, approval or consent rights under this Agreement, the Delaware Act or otherwise in respect of the Units held by such Person, including with respect to governance matters and other matters to be decided by the Company, and each Unitholder expressly waives any consent, approval or voting rights (except, in each case, for the Board Governance Exceptions) and other rights to participate in the Company’s governance, whether such rights are provided under the Delaware Act (including under Sections 18-209(b), 18-213(b), 18-216(b), 18-301(b)(l), l8-302(a), 18-304, 18-704(a), 18-801(a), 18-803(a) and 18-806 of the Delaware Act) or otherwise. The only Unitholder meetings or actions will be with respect to the Board Governance Exceptions.