Common use of Forbidden Acts Clause in Contracts

Forbidden Acts. No partner shall: (A) Have the right or authority to bind or obligate PI to any matter outside the scope of PI's purpose. (B) Without the unanimous consent of all partners, assign, transfer, pledge, mortgage, or sell all or part of their interest in PI. (C) Purchase an investment for PI outside a PI brokerage account established under authority of Section 14 of this Partnership Agreement. (D) Use PI's name, credit, or property for other than PI's purposes. (E) Do anything detrimental to the interests of PI or which would make it impossible to carry on PI 's purpose.