Common use of Personal Services Clause in Contracts

Personal Services. No General Partner or Affiliate thereof shall receive any salary or other direct or indirect compensation for any services or goods provided in connection with the Partnership or the Apartment Complex, except as may be specifically provided in Section 6.12 and Article XI or as to which the prior written consent of the Special Limited Partner shall have been obtained to the precise terms thereof prior to the commencement of such services or the provision of such goods. Any Partner may engage independently or with others in other business ventures of every nature and description including the ownership, operation, management, syndication and development of competing real estate; neither the Partnership nor any other Partner shall have any rights in and to such independent ventures or the income or profits derived therefrom.

Appears in 17 contracts

Samples: Consent and Agreement (Boston Capital Tax Credit Fund Iv Lp), Certificate and Agreement (Boston Capital Tax Credit Fund Iv Lp), Consent and Agreement (Boston Capital Tax Credit Fund Iv Lp)

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Personal Services. No Neither the General Partner or Affiliate thereof Partners nor any of their Affiliates shall receive any salary or other direct or indirect compensation for any services or goods provided in connection with the Partnership or the Apartment Complex, except as may be specifically provided in Section 6.12 and Article XI or as to which the prior written consent of the Special Limited Partner shall have been obtained to the precise terms thereof prior to the commencement of such services or the provision of such goods. Any Partner may engage independently or with others in other business ventures of every nature and description including the ownership, operation, management, syndication and development of competing real estate; neither the Partnership nor any other Partner shall have any rights in and to such independent ventures or the income or profits derived therefrom.

Appears in 3 contracts

Samples: Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp, Boston Capital Tax Credit Fund Iv Lp

Personal Services. No General Partner or Affiliate thereof shall receive any salary or other direct or indirect compensation for any services or goods provided in connection with the Partnership or the Apartment ComplexPartnership Property, except as may be specifically provided in Section 6.12 and Article XI or as to which the prior written consent of the Special Limited Partner shall have been obtained to the precise terms thereof prior to the commencement of such services or the provision of such goods. Any Partner may engage independently or with others in other business ventures of every nature and description including the ownership, operation, management, syndication and development of competing real estate; neither the Partnership nor any other Partner shall have any rights in and to such independent ventures or the income or profits derived therefrom.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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Personal Services. No General Partner or Affiliate thereof shall receive any salary or other direct or indirect compensation for any services or goods provided in connection with the Partnership or the Apartment Complex, except as may be specifically provided in Section 6.12 and Article XI or as to which the prior written consent Consent of the Special Limited Partner shall have been obtained to the precise terms thereof prior to the commencement of such services or the provision of such goods. Any Partner may engage independently or with others in other business ventures of every nature and description including the ownership, operation, management, syndication and development of competing real estate; neither the Partnership nor any other Partner shall have any rights in and to such independent ventures or the income or profits derived therefrom.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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