No Management Responsibility. No Limited Partner shall participate in the management or control of the business of or transact any business for the Partnership but may exercise the rights and powers of a Limited Partner under this Agreement. All management responsibility is vested in the Management Committee. The Limited Partners hereby consent to the taking of any action by the Management Committee and the Managing General Partners contemplated under Article 3.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Technology Funding Partners Iii L P), Limited Partnership Agreement (Technology Funding Venture Partners Iv), Limited Partnership Agreement (Technology Funding Venture Partners Iv)
No Management Responsibility. No Limited Partner shall participate in the management or control of the business of or transact any business for the Partnership but may exercise the rights and powers of a Limited Partner under this Agreement. All management responsibility is vested in the Management CommitteeGeneral Partners. The Limited Partners hereby consent to the taking of any action by the Management Committee Managing General Partners and the direction of the Managing General Partners by the Individual General Partners contemplated under Article 3.
Appears in 1 contract
Samples: Limited Partnership Agreement (Technology Funding Venture Partners V)
