Management and Control of the Partnership. The General Partner shall have full, exclusive and complete discretion to manage and control the businesses and affairs of the Partnership, to make all decisions affecting the businesses and affairs of the Partnership and to take all such actions as it deems necessary or appropriate to accomplish the purpose of the Partnership as set forth herein. No Limited Partner or assignee, as such, shall have any authority, right or power to bind the Partnership or to manage or control, or to participate in the management or control of, the businesses and affairs of the Partnership in any manner whatsoever.
Management and Control of the Partnership. (a) The General Partner shall have the full and exclusive right to manage and control the business and affairs of the Partnership and to make all decisions regarding the affairs of the Partnership. In the course of such management, the General Partner may acquire, encumber, hold title to, pledge, sell, release or otherwise dispose of Partnership Property and interests therein when and upon such terms as it determines to be in the best interests of the Partnership. The General Partner shall have all of the rights, powers and obligations of a partner of a partnership without limited partners, except as otherwise provided under the Act.
Management and Control of the Partnership. A. Subject to the Consent of the Unit Holders as and when required by this Agreement, the General Partner, within the authority granted to it under and in accordance with the provisions of this Agreement, shall have the full and exclusive right to manage and control the business and affairs of the Partnership and to make all decisions regarding the business of the Partnership and shall have all of the rights, powers, and obligations of a general partner of a limited partnership under the laws of the State.
Management and Control of the Partnership. Except as otherwise specifically provided elsewhere herein, the management, policies and control of the Partnership shall be vested exclusively in the General Partner. The Partnership shall enter into the Management Agreement with the Management Company, delegating its obligations under the Management Agreement to the Management Company but specifying that such authority shall be exercised in conformity with such agreement and this Agreement. The Management Agreement shall be binding upon the Partnership in accordance with its terms, shall not amend or modify the obligations of the General Partner hereunder nor be inconsistent with the terms of this Agreement and shall not be terminated or amended, nor be assigned to a non-affiliate of the Management Company, and no breaches of any of the provisions of the Management Agreement may be waived, without the approval of the Executive Board. If and to the extent the consent of the Limited Partners is required, whether by operation of law or otherwise, in connection with the assignment of the Management Agreement to a non-affiliate of the Management Company, the Executive Board is authorized and empowered to grant such consent on behalf of the Limited Partners.
Management and Control of the Partnership. The General Partner shall have all the rights, powers and obligations of a general partner of a limited partnership under the Act. Except as otherwise provided in Section 4.3, the General Partner shall have the right and obligation to manage and control the business and affairs of the Partnership and to make the following decisions on behalf of the Partnership:
Management and Control of the Partnership. Except as otherwise specifically provided herein, the General Partner shall have full power and authority on behalf of the Partnership to manage, control, administer, operate and conduct the Partnership business, and to execute documents on behalf of the Partnership. Any document executed by the General Partner while acting in good faith in the name and on behalf of the Partnership and within the parameters of his authority granted herein shall be deemed to be the action of the Partnership with respect to any third parties. It is the intent of the Partners that the day-to-day operations of the Partnership shall be managed by or under the direction of the President of the Partnership (the "President") and the other officers of the Partnership (and persons to whom the President and such other officers have the power to delegate, and so delegate, responsibilities) in accordance with delegations of authority approved by the General Partner or, in the case of the President, as otherwise set forth in Section 6.2.
Management and Control of the Partnership. 5.1 Exclusive Management of the Partnership by the Managing Partner ...... 15 5.2 Determination of Partner to Act as Managing Partner .................. 16 5.3
Management and Control of the Partnership. 5.1 Exclusive Management of the Partnership by the Managing Partner. Except to the extent otherwise expressly set forth in this Agreement, including, without limitation Sections 5.4 and 5.13, the business, property and affairs of the Partnership shall be managed exclusively by the Managing Partner. Except for situations in which the approval of the Non-Managing Partner and/or the Limited Partners are expressly required by this Agreement or pursuant to provisions of the Act, the Managing Partner shall have full, complete and exclusive authority, power, and discretion to manage and control the business, property and affairs of the Partnership, to make all decisions regarding those matters and to perform any and all other acts or activities customary or incident to the management of the Partnership's business, property and affairs. Without limitation on the foregoing, the Managing Partner shall designate either as authorized signatories or as officers of the Partnership, from time to time the Persons having authority to sign and endorse checks, execute contracts and otherwise bind the Partnership, and no Person not so designated shall have any such authority. Any third party shall be entitled to conclusively rely on any contract or instrument (including, but not limited to, any guaranty) signed by the Managing Partner on behalf of the Partnership, as the act and deed of the Partnership.
Management and Control of the Partnership. The management of the Partnership shall be vested in a Board of Directors appointed by the General Partner. The Board of Directors shall have full power and authority on behalf of the Partnership to manage, control, administer, operate and conduct the Partnership business. The total number of members on the Board of Directors shall be no less than three (3) and no more than fifteen (15) (each a “Director” and collectively, the “Directors”), unless otherwise fixed at a different number by an amendment hereto or a resolution adopted by the General Partner. The initial Board of Directors shall consist of 7 members. The General Partner hereby appoints the persons identified on Exhibit B as the initial Directors of the Partnership, each to serve until his successor is appointed and qualified. A Director shall remain in office until removed by a written instrument signed by the General Partner or until such Director resigns in a written instrument delivered to the General Partner, or such Director dies or is unable to serve. In the event of any such vacancy, the General Partner may identify another individual to fill the vacancy. Each Director shall have one (1) vote. Except as otherwise provided in this Agreement, the Board of Directors shall act by the affirmative vote of a majority of the total number of Directors. Each Director shall perform his or her duties in good faith, in a manner he or she reasonably believes to be in the best interests of the Partnership, and with such care as an ordinarily prudent person in a like position would use under similar circumstances. A person who so performs his or her duties shall not have any liability by reason of serving or having served as a Director. A Director shall not be liable under a judgment, decree, or order of court, or in any other manner, for a debt, obligation, or liability of the Partnership.
Management and Control of the Partnership. Subject to the provisions of this Agreement, the General Partner has the full, exclusive and complete right, power, authority, discretion, obligation and responsibility vested in or assumed by a general partner of a limited partnership and as otherwise provided by law, including those necessary to make all decisions affecting the business of the Partnership and to take those actions specified in Section 8.3 hereof. Subject to the other provisions of this Agreement, the General Partner is hereby vested with the full, exclusive and complete right, power and discretion to operate, manage, conduct, and control the affairs of the Partnership. The General Partner may, at its sole discretion, engage the Manager or any other Affiliate or third party to provide all or any services to the Partnership.
