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Except as authorized by the Managing Member, or as expressly set forth in this Agreement, the Non-Managing Members shall have no part in the management of the Company, and shall have no authority or right to act on behalf of the Company in connection with any matter. 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The Board of Directors may designate one or more committees each of which shall have all or such lesser portion of the power and authority of the entire Board of Directors as the Directors shall determine from time to time, except to the extent that action by the entire Board of Directors or particular Directors is required by the Investment Company Act.\n(b) Notwithstanding Section 9.1(a), the Board of Directors shall have, and the General Partner hereby irrevocably delegates to them pursuant to Section 17-403(c) of the Delaware Act, all of the power and authority set forth in any provision of this Agreement or conferred on them with respect to an investment company by or pursuant to the Investment Company Act and any other federal securities laws, including to appoint and terminate the General Partner, the Investment Manager and the independent public accountants of the Company in accordance with the provisions of Section 15 of the Investment Company Act, to establish the policies and procedures for determining the Net Asset Value of the Company and to review and adjust the determinations thereof by the General Partner, to approve all policies and procedures, including compliance policies and procedures, of the Company and of the General Partner, the Investment Manager and any transfer agent, to approve co-investments as contemplated by any exemptive order applicable to the Company and to resolve conflicts of interest between the Company and Affiliated Persons thereof. 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"type": "clause", "offset": [4069, 4092]}, {"key": "financing-of-the", "type": "clause", "offset": [4112, 4128]}, {"key": "conduct-of-the-operations", "type": "clause", "offset": [4129, 4154]}, {"key": "partnership-group", "type": "clause", "offset": [4162, 4179]}, {"key": "annual-operating-plan", "type": "definition", "offset": [4203, 4224]}, {"key": "lending-of-funds", "type": "clause", "offset": [4261, 4277]}, {"key": "other-persons", "type": "clause", "offset": [4281, 4294]}, {"key": "other-group", "type": "definition", "offset": [4306, 4317]}, {"key": "guarantee-of-obligations", "type": "clause", "offset": [4349, 4373]}, {"key": "contributions-to", "type": "clause", "offset": [4425, 4441]}, {"key": "other-instruments", "type": "clause", "offset": [4544, 4561]}, {"key": "the-liability-of-the", "type": "clause", "offset": [4596, 4616]}, {"key": "contractual-arrangements", "type": "clause", "offset": [4635, 4659]}, {"key": "other-party", "type": "clause", "offset": [4717, 4728]}, 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{"key": "from-time-to-time", "type": "clause", "offset": [5992, 6009]}, {"key": "the-restrictions", "type": "clause", "offset": [6022, 6038]}, {"key": "control-of", "type": "definition", "offset": [6073, 6083]}, {"key": "obligations-of-the-partnership", "type": "clause", "offset": [6121, 6151]}, {"key": "engaging-in", "type": "definition", "offset": [6235, 6246]}, {"key": "conduct-of-litigation", "type": "clause", "offset": [6251, 6272]}, {"key": "arbitration-or-mediation", "type": "clause", "offset": [6274, 6298]}, {"key": "legal-expense", "type": "clause", "offset": [6320, 6333]}, {"key": "claims-and-litigation", "type": "clause", "offset": [6356, 6377]}, {"key": "indemnification-of", "type": "clause", "offset": [6388, 6406]}, {"key": "any-person", "type": "definition", "offset": [6407, 6417]}, {"key": "liabilities-and-contingencies", "type": "definition", "offset": [6426, 6455]}, {"key": "to-the-extent-permitted-by-law", "type": "clause", "offset": [6456, 6486]}, {"key": "entering-into", "type": "clause", "offset": [6498, 6511]}, {"key": "listing-agreements", "type": "definition", "offset": [6515, 6533]}, {"key": "national-securities-exchange", "type": "definition", "offset": [6543, 6571]}, {"key": "limited-partner-interests", "type": "definition", "offset": [6612, 6637]}, {"key": "section-47", "type": "clause", "offset": [6764, 6775]}, {"key": "the-purchase", "type": "clause", "offset": [6832, 6844]}, {"key": "other-acquisition", "type": "clause", "offset": [6854, 6871]}, {"key": "disposition-of-partnership-interests", "type": "clause", "offset": [6875, 6911]}, {"key": "derivative-partnership-interests", "type": "definition", "offset": [6932, 6964]}, {"key": "the-undertaking", "type": "clause", "offset": [6976, 6991]}, {"key": "in-connection-with", "type": "clause", "offset": [7006, 7024]}, {"key": "participation-in-the-management", "type": "definition", "offset": [7043, 7074]}, {"key": "authorization-and-approval", "type": "clause", "offset": [7128, 7154]}, {"key": "member-of-the", "type": "clause", "offset": [7168, 7181]}, {"key": "opco-general-partner", "type": "definition", "offset": [7182, 7202]}, {"key": "on-behalf-of", "type": "definition", "offset": [7219, 7231]}, {"key": "the-operating-partnership", "type": "clause", "offset": [7232, 7257]}, {"key": "officers-of-the", "type": "clause", "offset": [7283, 7298]}, {"key": "to-act", "type": "definition", "offset": [7320, 7326]}, {"key": "distributions-by-the", "type": "clause", "offset": [7430, 7450]}], "snippet": "In order to enable the Board of Directors to manage the business and affairs of the Partnership, the General Partner hereby delegates to the Board of Directors all management powers over the business and affairs of the Partnership that it may now or hereafter possess under applicable law (other than those powers retained by the General Partner, as set forth in Section 1.2, Section 2.4, Section 3.3(c), Section 7.1(d), Section 7.2, Section 7.7(d), Section 7.10, Section 12.4, Section 13.1(b), Section 13.4(b) and Section 14.4, and other than the General Partner\u2019s obligations pursuant to Article IX of this Agreement) as permitted under Section 17-403(c) of the Delaware Act. The General Partner further agrees to take any and all action necessary and appropriate, in the sole discretion of the Board of Directors, to effect any actions duly authorized by the Board of Directors or any officer of the Partnership, including executing or filing any agreements, instruments or certificates, delivering all documents, providing all information and taking or refraining from taking any action as may be necessary or appropriate to achieve all the effective delegation of power described in this Section 7.1. Each of the Partners and each Person who may acquire an interest in a Limited Partner Interest is hereby deemed to have approved, consented to, ratified and confirmed such delegation. The delegation by the General Partner to the Board of Directors of management powers over the business and affairs of the Partnership pursuant to the provisions of this Agreement shall not cause the General Partner to cease to be the general partner of the Partnership, nor shall it cause the Board of Directors or any member thereof to be a general partner of the Partnership or to have or be subject to any liabilities of a general partner of the Partnership that may be applicable. Except as otherwise provided in this Agreement (including pursuant to Section 1.2, Section 2.4, Section 3.3(c), Section 7.1(d), Section 7.2, Section 7.7(d), Section 7.10, Section 12.4, Section 13.1(b), Section 13.4(b), Section 14.4 and Article IX of this Agreement), and except as delegated to the \u201cManager Group\u201d (as defined in the Management Services Agreement) as set forth in the Management Services Agreement or as otherwise provided therein, the management of the Partnership shall be vested exclusively in the Board of Directors and, subject to the direction of the Board of Directors, the Partnership\u2019s officers and the Board of Directors shall, subject to Section 7.3, have full power and authority to do all things and on such terms as it determines to be necessary or appropriate to conduct the business of the Partnership, to exercise all powers set forth in Section 2.5 and to effectuate the purposes set forth in Section 2.4, including the following:\n(i) the making of any expenditures, the lending or borrowing of money, the assumption or guarantee of, or other contracting for, indebtedness and other liabilities, the issuance of evidences of indebtedness, including indebtedness that is convertible into or exchangeable for Partnership Interests (subject to Section 5.8(b)(iv) with respect to Series A Senior Securities and Series A Parity Securities), and the incurring of any other obligations;\n(ii) the making of regulatory and other filings (other than tax filings of Group Members, for which the General Partner retains authority pursuant to Article IX), or rendering of periodic or other reports to governmental or other agencies having jurisdiction over the business or assets of the Partnership;\n(iii) the acquisition, disposition, mortgage, pledge, encumbrance, hypothecation or exchange of any or all of the assets of the Partnership or the merger or other combination of the Partnership with or into another Person (the matters described in this clause (iii) being subject, however, to any prior approval that may be required by Section 7.3 and Article XIV);\n(iv) the use of the assets of the Partnership (including cash on hand) for any purpose consistent with the terms of this Agreement, including (A) the financing of the conduct of the operations of the Partnership Group; (B) the Partnership\u2019s annual Operating Plan; (C) subject to Section 7.6(a), the lending of funds to other Persons (including other Group Members); (D) the repayment or guarantee of obligations of any Group Member; and (E) the making of capital contributions to any Group Member;\n(v) the negotiation, authorization and performance of any contracts, conveyances or other instruments (including instruments that limit the liability of the Partnership under contractual arrangements to all or particular assets of the Partnership, with the other party to the contract having no recourse against the General Partner or its assets other than its interest in the Partnership, even if the same results in the terms of the transaction are less favorable to the Partnership than would otherwise be the case);\n(vi) the distribution of cash held by the Partnership;\n(vii) subject to the terms of the Management Services Agreement, the selection and dismissal of employees (including employees having titles such as \u201cpresident,\u201d \u201cvice president,\u201d \u201csecretary,\u201d and \u201ctreasurer\u201d) and agents, internal and outside attorneys, accountants, consultants and contractors, and the determination of their compensation and other terms of employment or hiring;\n(viii) approval of any agreement or arrangement (or any termination or amendment thereof) between any Partner or its Affiliate (other than a Group Member), on the one hand, and the Partnership or any other Group Member, on the other hand;\n(ix) the formation of, or acquisition of an interest in, and the contribution of property and the making of loans to, any further limited or general partnerships, joint ventures, corporations, limited liability companies or other Persons (including the acquisition of interests in, and the contributions of property to, any Group Member from time to time) subject to the restrictions set forth in Section 2.4;\n(x) the control of any matters affecting the rights and obligations of the Partnership, including the bringing and defending of actions at law or in equity and otherwise engaging in the conduct of litigation, arbitration or mediation and the incurring of legal expense and the settlement of claims and litigation;\n(xi) the indemnification of any Person against liabilities and contingencies to the extent permitted by law;\n(xii) the entering into of listing agreements with any National Securities Exchange and the delisting of some or all of the Limited Partner Interests from, or requesting that trading be suspended on, any such exchange (subject to any prior approval that may be required under Section 4.7);\n(xiii) subject to Section 5.8(b)(iv) and Article XIV, the purchase, sale or other acquisition or disposition of Partnership Interests, or the issuance of Derivative Partnership Interests; and\n(xiv) the undertaking of any action in connection with the Partnership\u2019s participation in the management of any Group Member, including (A) the Partnership\u2019s authorization and approval, as the sole member of the OpCo General Partner, of any actions on behalf of the Operating Partnership, and (B) authorizing the officers of the OpCo General Partner to act or approve any matter on behalf of the Operating Partnership, including the declaration and payment of distributions by the Operating Partnership.", "samples": [{"hash": "dHMXry6f6nR", "uri": "/contracts/dHMXry6f6nR#management-generally", "label": "Agreement of Limited Partnership (NextEra Energy Partners, LP)", "score": 30.4455852509, "published": true}, {"hash": "aiYplMp5ZkL", "uri": "/contracts/aiYplMp5ZkL#management-generally", "label": "Limited Partnership Agreement", "score": 27.4626960754, "published": true}, {"hash": "jzCaxhhJmxh", "uri": "/contracts/jzCaxhhJmxh#management-generally", "label": "Limited Partnership Agreement", "score": 27.1984939575, "published": true}], "hash": "22670ff3821c27293a87d99a61ea6ade", "id": 7}, {"size": 9, "snippet_links": [{"key": "management-and-control-of-the-partnership", "type": "clause", "offset": [8, 49]}, {"key": "in-the-general", "type": "clause", "offset": [66, 80]}, {"key": "certain-rights", "type": "clause", "offset": [131, 145]}, {"key": "with-respect-to", "type": "clause", "offset": [146, 161]}, {"key": "certain-matters", "type": "clause", "offset": [162, 177]}, {"key": "in-this-agreement", "type": "clause", "offset": [210, 227]}, {"key": "no-authority", "type": "clause", "offset": [261, 273]}, {"key": "right-to-act", "type": "clause", "offset": [277, 289]}, {"key": "on-behalf-of", "type": "definition", "offset": [290, 302]}, {"key": "in-connection-with", "type": "clause", "offset": [319, 337]}, {"key": "engage-in-any", "type": "definition", "offset": [363, 376]}, {"key": "the-day", "type": "definition", "offset": [384, 391]}, {"key": "business-of-the-partnership", "type": "definition", "offset": [399, 426]}, {"key": "right-to-delegate", "type": "clause", "offset": [467, 484]}, {"key": "administrative-responsibilities", "type": "clause", "offset": [508, 539]}, {"key": "in-no-event-shall", "type": "clause", "offset": [606, 623]}, {"key": "a-limited", "type": "clause", "offset": [627, 636]}, {"key": "of-management", "type": "clause", "offset": [661, 674]}, {"key": "by-the-general-partner", "type": "clause", "offset": [711, 733]}, {"key": "a-person", "type": "clause", "offset": [737, 745]}, {"key": "affiliate-of", "type": "definition", "offset": [760, 772]}, {"key": "subject-to-the", "type": "clause", "offset": [802, 816]}, {"key": "consent-of-the-limited-partners", "type": "definition", "offset": [827, 858]}], "snippet": "(a) The management and control of the Partnership shall be vested in the General Partner; however, the Limited Partners shall have certain rights with respect to certain matters of the Partnership as described in this Agreement. The Limited Partners shall have no authority or right to act on behalf of the Partnership in connection with any matter and shall not engage in any way in the day-to-day business of the Partnership.\n(b) The General Partner shall have the right to delegate certain management and administrative responsibilities set forth in Section 2.02 to one or more of its Affiliates, which in no event shall be a Limited Partner. Any delegation of management and administrative responsibilities by the General Partner to a Person who is not an Affiliate of the General Partner shall be subject to the unanimous consent of the Limited Partners.", "samples": [{"hash": "71Pm7A5FdCi", "uri": "/contracts/71Pm7A5FdCi#management-generally", "label": "Limited Partnership Agreement", "score": 31.3408622742, "published": true}, {"hash": "2DWXtZBtVz5", "uri": "/contracts/2DWXtZBtVz5#management-generally", "label": "Limited Partnership Agreement (Host Hotels & Resorts L.P.)", "score": 23.5804252625, "published": true}, {"hash": "kXGMO9D1dcT", "uri": "/contracts/kXGMO9D1dcT#management-generally", "label": "Limited Partnership Agreement (Host Hotels & Resorts, Inc.)", "score": 22.5605754852, "published": true}], "hash": "87e4e2ffc1e2f8bd45deaa636dff3be0", "id": 8}, {"size": 9, "snippet_links": [{"key": "in-this-agreement", "type": "clause", "offset": [39, 56]}, {"key": "with-respect-to", "type": "clause", "offset": [57, 72]}, {"key": "the-managing-member", "type": "clause", "offset": [73, 92]}, {"key": "the-company-shall", "type": "clause", "offset": [122, 139]}, {"key": "under-the-direction-of", "type": "definition", "offset": [151, 173]}, {"key": "board-of-directors-of-the-company", "type": "definition", "offset": [178, 211]}, {"key": "lazard-board", "type": "clause", "offset": [218, 230]}, {"key": "in-addition-to-the", "type": "clause", "offset": [234, 252]}, {"key": "powers-and-authorities", "type": "clause", "offset": [253, 275]}, {"key": "by-this-agreement", "type": "clause", "offset": [276, 293]}, {"key": "powers-of-the-company", "type": "clause", "offset": [364, 385]}, {"key": "the-act", "type": "clause", "offset": [439, 446]}, {"key": "agreement-required", "type": "clause", "offset": [458, 476]}, {"key": "by-the-members", "type": "clause", "offset": [501, 515]}, {"key": "certain-powers", "type": "clause", "offset": [540, 554]}, {"key": "allocated-to", "type": "definition", "offset": [611, 623]}, {"key": "executed-by", "type": "definition", "offset": [627, 638]}, {"key": "the-chief-executive-officer", "type": "clause", "offset": [639, 666]}, {"key": "other-officers", "type": "definition", "offset": [683, 697]}, {"key": "to-the-extent", "type": "clause", "offset": [708, 721]}, {"key": "in-accordance-with", "type": "definition", "offset": [770, 788]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [832, 857]}, {"key": "at-any-time", "type": "clause", "offset": [899, 910]}, {"key": "for-any-reason", "type": "clause", "offset": [915, 929]}, {"key": "approval-by", "type": "clause", "offset": [951, 962]}, {"key": "action-taken", "type": "clause", "offset": [966, 978]}, {"key": "action-by-the-company", "type": "clause", "offset": [1062, 1083]}, {"key": "board-shall", "type": "definition", "offset": [1149, 1160]}, {"key": "meaning-of", "type": "definition", "offset": [1202, 1212]}], "snippet": "Except as otherwise expressly provided in this Agreement with respect to the Managing Member, the business and affairs of the Company shall be managed under the direction of the board of directors of the Company (the \u201cLazard Board\u201d). In addition to the powers and authorities by this Agreement expressly conferred upon them, the Lazard Board may exercise all such powers of the Company and do all such lawful acts and things as are not by the Act or by this Agreement required to be exercised or done by the Members or the Managing Member. Certain powers and authorities of the Lazard Board may be concurrently allocated to or executed by the Chief Executive Officer, or one or more other officers, when and to the extent expressly delegated thereto by the Lazard Board in accordance with this Agreement; provided, that, subject to the provisions of Section 3.02, any such delegation may be revoked at any time and for any reason by the Lazard Board. Approval by or action taken by the Lazard Board in accordance with this Agreement shall constitute approval or action by the Company and shall be binding on the Members. Each Director on the Lazard Board shall be a \u201cmanager\u201d of the Company within the meaning of the Act.", "samples": [{"hash": "8Kg77sKyFa3", "uri": "/contracts/8Kg77sKyFa3#management-generally", "label": "Operating Agreement", "score": 29.3408622742, "published": true}, {"hash": "drJN9IwitAy", "uri": "/contracts/drJN9IwitAy#management-generally", "label": "Operating Agreement (Lazard LTD)", "score": 21.0, "published": true}, {"hash": "bNENLtFqdnU", "uri": "/contracts/bNENLtFqdnU#management-generally", "label": "Operating Agreement (Lazard LTD)", "score": 21.0, "published": true}], "hash": "bd9cff1523a9a2310ca3006b985376e2", "id": 9}, {"size": 7, "snippet_links": [{"key": "the-shares", "type": "clause", "offset": [36, 46]}, {"key": "the-company-shall", "type": "clause", "offset": [66, 83]}, {"key": "power-and-authority", "type": "clause", "offset": [161, 180]}, {"key": "meaning-of", "type": "definition", "offset": [222, 232]}, {"key": "delaware-act", "type": "definition", "offset": [237, 249]}, {"key": "authority-to-appoint", "type": "clause", "offset": [265, 285]}, {"key": "behalf-of-the-company", "type": "clause", "offset": [330, 351]}, {"key": "third-parties", "type": "definition", "offset": [363, 376]}, {"key": "services-to-the-company", "type": "clause", "offset": [388, 411]}, {"key": "to-delegate", "type": "clause", "offset": [478, 489]}, {"key": "such-officers", "type": "definition", "offset": [518, 531]}, {"key": "authorized-persons", "type": "clause", "offset": [535, 553]}, {"key": "requirements-of-the", "type": "clause", "offset": [605, 624]}, {"key": "investment-company-act", "type": "clause", "offset": [625, 647]}, {"key": "authority-of-the", "type": "clause", "offset": [778, 794]}, {"key": "entire-board-of-directors", "type": "clause", "offset": [795, 820]}, {"key": "the-directors", "type": "clause", "offset": [824, 837]}, {"key": "from-time-to-time", "type": "clause", "offset": [854, 871]}, {"key": "except-to-the-extent", "type": "clause", "offset": [873, 893]}, {"key": "action-by-the", "type": "clause", "offset": [899, 912]}, {"key": "required-by", "type": "definition", "offset": [966, 977]}, {"key": "the-members", "type": "clause", "offset": [1048, 1059]}, {"key": "no-authority", "type": "clause", "offset": [1156, 1168]}, {"key": "right-to-act", "type": "clause", "offset": [1172, 1184]}, {"key": "in-connection-with", "type": "clause", "offset": [1210, 1228]}, {"key": "authority-to-act", "type": "clause", "offset": [1318, 1334]}, {"key": "name-of-the-company", "type": "clause", "offset": [1356, 1375]}, {"key": "by-the-board-of-directors", "type": "clause", "offset": [1401, 1426]}, {"key": "granted-by", "type": "definition", "offset": [1452, 1462]}, {"key": "substantially-all", "type": "definition", "offset": [1528, 1545]}, {"key": "with-respect-to", "type": "clause", "offset": [1573, 1588]}, {"key": "operations-of-the-company", "type": "clause", "offset": [1593, 1618]}, {"key": "the-investment-manager", "type": "definition", "offset": [1622, 1644]}], "snippet": "(a) Subject to the voting rights of the Shares, the management of the Company shall be vested exclusively in the Board of Directors, which shall have all of the power and authority of a \"manager\" of the Company within the meaning of the Delaware Act, including the authority to appoint officers and to authorize persons to act on behalf of the Company and engage third parties to provide services to the Company and to perform any permissible activity and is further authorized to delegate such power and authority to such officers or authorized Persons as it determines to be appropriate, subject to the requirements of the Investment Company Act. The Board of Directors may designate one or more committees each of which shall have all or such lesser portion of the power and authority of the entire Board of Directors as the Directors shall determine from time to time, except to the extent that action by the entire Board of Directors or particular Directors is required by the Investment Company Act.\n(b) Except as expressly set forth herein, the Members, in their capacity as such, shall have no part in the management of the Company, and shall have no authority or right to act on behalf of the Company in connection with any matter. Employees, officers, authorized Persons and agents of the Company shall have authority to act on behalf and in the name of the Company to the extent authorized by the Board of Directors or pursuant to authority granted by it. 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