Common use of Management and Control of the Production Partnership Clause in Contracts

Management and Control of the Production Partnership. A. Subject to the Consent of the Limited Partnership as and when required by this Agreement, the Managing 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 Production Partnership and to make all decisions regarding the business of the Production Partnership and shall have all of the rights, powers and obligations of a managing general partner of a general partnership under the laws of the State. The Managing Partner shall exercise those powers as a fiduciary to the Limited Partnership.