Common use of Limitation on Material Actions Clause in Contracts

Limitation on Material Actions. Notwithstanding anything in this Agreement to the contrary (and notwithstanding any provision of law that otherwise so empowers the Partnership, the General Partner or any other Person), neither the General Partner nor any other Person shall be authorized or empowered to cause or permit the Partnership to take any Material Action, and the Partnership shall not take any Material Action, without the prior written consent of the General Partner, and no such consent shall be effective unless it has been approved by all Independent Directors of the General Partner then serving in such capacity.

Limitation on Material Actions. Notwithstanding anything in this Agreement to the contrary (and notwithstanding any provision of law that otherwise so empowers the Partnership, the General Partner or any other Person), neither the General Partner nor any other Person shall be authorized or empowered to cause or LIMITED PARTNERSHIP AGREEMENT ([ ] L.P.) permit the Partnership to take any Material Action, and the Partnership shall not take any Material Action, without the prior written consent of the General Partner, and no such consent shall be effective unless it has been approved by all Independent Directors of the General Partner then serving in such capacity.

Limitation on Material Actions. Notwithstanding anything in this Agreement to the contrary (and notwithstanding any provision of law that otherwise so empowers the Partnership, the General Partner or any other Person), neither the General Partner nor any other Person shall be authorized or empowered to cause or 8 Limited Partnership Agreement ([ ]L.P.) permit the Partnership to take any Material Action, and the Partnership shall not take any Material Action, without the prior written consent of the General Partner, and no such consent shall be effective unless it has been approved by all Independent Directors of the General Partner then serving in such capacity.