Common use of No Participation in Management Clause in Contracts

No Participation in Management. The Limited Partner shall not take part in the management or control of the Limited Partnership’s investment or other activities, take an active part in the affairs of the Limited Partnership, transact any business in the Limited Partnership’s name or have the power to sign documents for or otherwise bind the Limited Partnership to the extent that it would cause the Limited Partner to be liable for the debts and obligations of the Limited Partnership under the Act or otherwise. The exercise by the Limited Partner of any right conferred herein shall not be construed to constitute participation by the Limited Partner in the control of the investment or other activities of the Limited Partnership so as to make the Limited Partner liable for the debts and obligations of the Limited Partnership for purposes of the Act or otherwise.

No Participation in Management. The No Limited Partner (unless also the General Partner) shall not take part in the management or control of the Limited Partnership’s investment or other activities, take an active part in the affairs of the Limited Partnership, transact any business in the Limited Partnership’s name or have the power to sign documents for or otherwise bind the Limited Partnership to the extent that it would cause the such Limited Partner to be liable for the debts and obligations of the Limited Partnership under the Act or otherwise. The exercise by the any Limited Partner (unless also the General Partner) of any right conferred herein shall not be construed to constitute participation by the such Limited Partner in the control of the investment or other activities of the Limited Partnership so as to make the such Limited Partner liable for the debts and obligations of the Limited Partnership for purposes of the Act or otherwise.