General Authority and Powers of General Partner Sample Clauses

General Authority and Powers of General Partner. Subject to the terms and conditions of this Agreement, the General Partner shall have complete authority over and exclusive control and management of the business and affairs of the Partnership and shall devote such time to the Partnership as may be reasonably required for the achievement of its purposes, in addition to all other responsibilities of the General Partner. Without limiting the foregoing, the General Partner is empowered to spend Partnership funds on non-refundable options, fees to third parties or Affiliates to investigate, study and evaluate possible land acquisition and development opportunities and other similar expenditures which may be written off in full if the Partnership is unable to acquire and develop a property, to contract for the purchase or development of commercial real estate assets and to dispose and liquidate the assets. In connection with such management, the General Partner may, subject to this Article V, employ on behalf of the Partnership any other Persons to perform services for the Partnership, including Persons employed by, affiliated with, or related to any Partner.
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General Authority and Powers of General Partner. General Partner shall have the right and obligation to manage the Partnership business subject to Section 10.5 below. In its capacity as General Partner, General Partner may act on the Partnership’s behalf and execute documents, agreements, contracts and other undertakings on behalf of, and in the name of, the Partnership. General Partner is authorized to bind the Partnership, and the signature of General Partner is sufficient to bind the Partnership, including with respect to the transfer of the real or personal property of the Partnership and the borrowing of funds by or on behalf of the Partnership. Parties dealing with the Partnership shall be entitled to rely upon the authority of General Partner to execute such documents on behalf of the Partnership.
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General Authority and Powers of General Partner. Except as provided in Section 11.7 and in certain parts of this Section 11.1, the General Partner shall have the exclusive right and power to manage, operate and control the Partnership and to do all things and make all decisions necessary or appropriate to carry on the business and affairs of the Partnership. The General Partner may designate a person to be responsible for the day to day management of the Partnership. The authority of the General Partner shall include, but shall not be limited to the following: (a) To spend the capital and revenues of the Partnership; (b/ To manage, sell, develop, improve, operate and dispose of any Partnership properties, provided, however, that a sale or disposal of the property must be approved by the Partners in accordance with Section 11.7 below, and further provided, that capital improvements in excess of 550,000 must be approved by the Partners in accordance with Section 11.7 below; (c) To employ persons, firms and/or corporations for the operation and management of the Partnership's business and for the operation and development of the property of the Partnership, including but not limited to sales agents, management agents, architects, engineers, contractors, attorneys and accountants; (d) To acquire, lease and sell personal and/or real property, hire and fire employees, and to do all other acts necessary, appropriate, or helpful for the operation of the Partnership business; (e) To execute, acknowledge and deliver any and all instruments to effectuate any of the foregoing powers and any other powers 10
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Related to General Authority and Powers of General Partner

  • Purpose and Powers of the Company The Company is organized for the purpose of carrying on any lawful activity for which limited liability companies may be formed under the Act. The Company shall possess and may exercise all of the powers and privileges granted by the Act or by any other law or by this Agreement, together with any powers incidental thereto, so far as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the business purposes or activities of the Company contemplated by this Agreement.

  • Authority and Power All authority and power granted to the Servicer under this Agreement shall automatically cease and terminate upon termination of this Agreement and shall pass to and be vested in the Borrower and, without limitation, the Borrower is hereby authorized and empowered to execute and deliver, on behalf of the Servicer, as attorney-in-fact or otherwise, all documents and other instruments, and to do and accomplish all other acts or things necessary or appropriate to effect the purposes of such transfer of servicing rights. The Servicer agrees to cooperate with the Borrower in effecting the termination of the responsibilities and rights of the Servicer to conduct servicing of the Collateral Portfolio.

  • Organization, Authority and Qualification of the Company The Company is a corporation duly organized, validly existing and in good standing under the laws of the Cayman Islands and has all necessary corporate power and authority to enter into this Agreement and the Registration Rights Agreement, to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The Company is duly licensed or qualified to do business and is in good standing in each jurisdiction which the properties owned or leased by it or the operation of its business makes such licensing or qualification necessary, except to the extent that the failure to be so licensed, qualified or in good standing would not (a) adversely affect the ability of the Company to carry out its obligations under, and to consummate the transactions contemplated by, this Agreement and the Registration Rights Agreement, or (b) otherwise have a Material Adverse Effect. The execution and delivery of this Agreement and the Registration Rights Agreement by the Company, the performance by the Company of its obligations hereunder and thereunder and the consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all requisite action on the part of the Company and its stockholders. This Agreement has been, and upon its execution the Registration Rights Agreement shall have been, duly executed and delivered by the Company, and (assuming due authorization, execution and delivery by the Purchaser) this Agreement constitutes, and upon its execution the Registration Rights Agreement shall constitute, legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms.

  • Organization and Powers Each Loan Party is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation as specified in Schedule 5.1 annexed hereto. Each Loan Party has all requisite corporate power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into the Loan Documents and Related Agreements to which it is a party and to carry out the transactions contemplated thereby.

  • AUTHORITY AND PARTIES In accordance with the National Aeronautics and Space Act (51 U.S.C. § 20113(e)), this Agreement is entered into by the National Aeronautics and Space Administration, located at 000 X Xxxxxx XX, Xxxxxxxxxx, XX 00000 (hereinafter referred to as "NASA") and PRAIRIE VIEW A&M UNIVERSITY located at 000 Xxxxxxxxxx Xxxxx, Xxxxxxx Xxxx, XX 00000-0519 (hereinafter referred to as "Partner" or "PVAMU"). NASA and Partner may be individually referred to as a "Party" and collectively referred to as the "Parties."

  • Authority and Consents Seller has the right, power, legal capacity and authority to enter into and perform its obligations under this Agreement, and no approvals or consents of any governmental authorities or persons other than Seller are necessary in connection with it. The execution and delivery of this Agreement by Seller has been duly authorized by all necessary corporate action on the part of Seller.

  • Authorization and Power Such Subscriber has the requisite power and authority to enter into and perform this Agreement and the other Transaction Documents (as defined herein) and to purchase the Note and Warrants being sold to it hereunder. The execution, delivery and performance of this Agreement and the other Transaction Documents by such Subscriber and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action, and no further consent or authorization of Subscriber or its board of directors or stockholders, if applicable, is required. This Agreement and the other Transaction Documents have been duly authorized, executed and delivered by such Subscriber and constitutes, or shall constitute, when executed and delivered, a valid and binding obligation of such Subscriber, enforceable against Subscriber in accordance with the terms thereof.

  • Corporate Organization and Power Each of the Borrower and its Subsidiaries (i) is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, (ii) has the full corporate power and authority to execute, deliver and perform the Credit Documents to which it is or will be a party, to own and hold its property and to engage in its business as presently conducted, and (iii) is duly qualified to do business as a foreign corporation and is in good standing in each jurisdiction where the nature of its business or the ownership of its properties requires it to be so qualified, except where the failure to be so qualified would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect.

  • Bank Accounts and Powers of Attorney Set forth in Schedule 3.21 is an accurate and complete list showing (a) the name of each bank in which the Company has an account, credit line or safe deposit box and the names of all Persons authorized to draw thereon or to have access thereto, and (b) the names of all Persons, if any, holding powers of attorney from the Company and a summary statement of the terms thereof.

  • Organization and Power The Purchaser is duly organized, validly existing, and in good standing under the laws of the jurisdiction of its formation and has all requisite power and authority to carry on its business as presently conducted and as proposed to be conducted.

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