Duties of General Partner. The General Partner agrees that it shall at all times:
Duties of General Partner. (a) The General Partner, subject to the limitations contained elsewhere in this Agreement, shall manage or cause to be managed the affairs of the Partnership in a prudent and businesslike manner and shall devote sufficient time and effort to the Partnership affairs.
Duties of General Partner. The General Partner shall manage the business and affairs of the Partnership in the manner the General Partner deems appropriate or necessary. Without limiting the generality of the foregoing, the General Partner’s duties shall include the following:
Duties of General Partner. 33 9.8 Obligations to Repair and Rebuild Apartment Housing......................................... 35 9.9
Duties of General Partner. The General Partner shall exercise the powers and discharge the duties of its office hereunder honestly, in good faith and in the best interests all Partners.
Duties of General Partner. The General Partner shall devote such time to the business of the Partnership as it shall deem necessary to manage and supervise the business and affairs of the Partnership in an efficient manner. Subject to the foregoing, the General Partner shall manage the administration of the Partnership, which administration shall include, but not be limited to, (a) maintaining customary books and records; (b) preparing or causing the preparation of the financial statements provided for in this Agreement; (c) preparing and filing or causing the preparation and filing of Partnership tax returns; (d) preparing communications from the Partnership to Limited Partners; (e) filing documents required to be filed by the Partnership; (f) causing the Partnership to make or revoke the appropriate tax elections under the Code; (g) functioning as tax matters partner for federal, state and local tax purposes; and (h) acting on behalf of the Partnership with respect to (i) the Trust or the Securitization Trust, (ii) any lenders and (iii) any other Person dealing with the Partnership or any Partnership Property.
Duties of General Partner. Subject to the limitations in Section 5.03, the General Partner shall be charged with the full responsibility for managing and promoting the Partnership’s purpose and business. The General Partner shall devote its diligent efforts to the business and affairs of the Partnership, including such time as shall be required, in the reasonable opinion of the General Partner, for the proper conduct of the business of the Partnership. The General Partner shall not assign its duties under this Agreement except pursuant to the terms of Section 8.05 hereof. The General Partner shall have authority in its sole discretion to delegate any responsibilities hereunder to third parties with whom it contracts to provide services on behalf of the Partnership. No such delegation shall relieve the General Partner from its duties or obligations hereunder.
Duties of General Partner. 5.2.1 Nothing in this Agreement shall be deemed to restrict in any way the rights of any Partner, or of any other person or entity whether or not an Affiliate of any Partner, to conduct any other business or activity whatsoever, and no Partner (an Affiliate thereof) shall be accountable to the Partnership or to any other Partner with respect to that business or activity even if the business or activity owns and/or operates property within the same or any other geographic area or competes with the Partnership's business. The organization of the Partnership shall be without prejudice to the Partners' respective rights (or the rights of any other person or entity whether or not an Affiliate of any Partner) to maintain, expand or diversify such other interests and activities and to receive and enjoy profits or compensation therefrom. Each Partner waives any rights the Partner might otherwise have to share or participate in such other interests, activities, assets or profits of any other Partner or of any other person or entity in any way affiliated with any Partner, whether or not an Affiliate of any Partner.
Duties of General Partner. The General Partner shall manage and control the affairs of the Partnership to the best of its ability and conduct the operations contemplated hereby in a careful and prudent manner and in accordance with good industry practice. The General Partner in its capacity as such shall devote as much time to the performance of its duties under this Agreement as is necessary to carry on the affairs of the Partnership. Without limiting the foregoing, the General Partner shall diligently (i) conduct all operations of the Partnership in accordance with good business practices and in an efficient and economical manner, (ii) cause the Partnership to comply with all laws and regulations, including zoning and other governmental ordinances affecting the Partnership and the Project, (iii) cause the Partnership to comply with the terms and conditions of this Agreement, the Initial Loan Documents and all other agreements, contracts and obligations of the Partnership, (iv) use reasonable efforts to adhere to the Time Schedule for construction and completion of the Project set forth in Exhibit G, and (v) following the Purchase Price Computation Date but prior to the Purchase Settlement Date submit draw requests to the Initial Lender for all remaining amounts that could be drawn pursuant to the Initial Loan. The General Partner shall, at all times, act in a manner consistent with its fiduciary duties to the Partnership and the Limited Partner.
Duties of General Partner. To the extent that, at law or in equity, the General Partner has duties (including fiduciary duties) and liabilities relating thereto to the Partnership or the Limited Partners, the General Partner shall not be liable to the Partnership or to any other Partner for its good faith reliance on the provisions of this Agreement.
