RIGHTS AND OBLIGATIONS OF PARTNERSHIP Sample Clauses

RIGHTS AND OBLIGATIONS OF PARTNERSHIP. Q: What are the responsibilities of a partnership to partners? A:
Sample 1
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RIGHTS AND OBLIGATIONS OF PARTNERSHIP. Section 9.01 No Loans or Additional Contributions ------------ ------------------------------------ A Partner shall be liable to make only the Capital Contributions required under Article 4 hereof. No Partner shall be required to contribute to the Partnership any other funds or to- lend to the Partnership any funds whatsoever, provided that the Partnership and/or certain creditors of the Partnership to the extent required by law may recover from a Partner cash distributions deemed to be a return of capital to the Partner (together with interest thereon) if (i) such cash distributions were made after such creditor advanced credit or funds to the Partnership, or (ii) such creditor advanced credit or funds to the Partnership prior to the date an amendment to the Certificate of Limited Partnership is recorded reflecting such cash distribution as a reduction of capital of the Partner. Notwithstanding the foregoing, however, if necessary to pay expenses or obligations of the Partnership, the General Partner, one or more of its Affiliates, or one or more of the Limited Partners may lend or advance money to or for the benefit of the Partnership with the approval of and on such terms and conditions as may be established by the General Partner. Any such loans shall be segregated in a loans payable account and interest shall be payable on such loans at the prevailing rate then being charged for loans currently Outstanding to the Partnership, or if there are no such loans, then for comparable loans by a New York clearing house bank selected by the General Partner, but in no event more than the maximum rate then permitted by applicable law. No such loan shall constitute additional capital or entitle the lending Partner to any rights other than as a creditor of the Partnership.
Sample 1

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  • Rights and Obligations of Limited Partners Section 8.1 Limitation of Liability 27 Section 8.2 Management of Business 27 Section 8.3 Outside Activities 27 Section 8.4 Return of Capital 27 Section 8.5 Rights of Limited Partners Relating to the Partnership 27

  • Rights and Obligations of the Limited Partners 8.1 Management of the Partnership. The Limited Partners shall not participate in the management or control of Partnership business nor shall they transact any business for the Partnership, nor shall they have the power to sign for or bind the Partnership, such powers being vested solely and exclusively in the General Partner.

  • Rights and Obligations of the Parties 13.2.1 The client shall be under obligation:

  • Rights and Obligations of Both Parties 3.1 Party A’s rights and obligations

  • Rights and Obligations Except as expressly set forth in this Agreement, no Member, in its capacity as a Member, will have any right, power or authority to transact any business in the name of the Series, participate in the management of the Series or to act for or on behalf of or to bind the Series. A Member will have no rights other than those specifically provided herein or granted by law. Except as required by the Act, no Member, solely by reason of being a member, shall be liable for the debts, liabilities, obligations or expenses of the Series.

  • Additional Rights and Obligations The author(s) (and their employers as applicable), hereby authorise the Publishers to take such steps as they consider necessary at their own expense in the copyright owner’s name and on their behalf, if they believe that a third party is infringing or is likely to infringe copyright or the rights granted to the Publishers herein in the Contribution without further recourse to the copyright owner(s). The Corresponding Author acknowledges that all versions of the Contribution, and any associated reviews and responses to those reviews, may be published if the Contribution is accepted for publication. The Publishers expressly agree to place the final published post-production Contribution for display on PMC (including their international mirror sites) promptly after publication without extra charge for this deposit to the authors or their employers (provided PMC does not charge the Publishers), which will include any Publisher supplied amendments or retractions. The author(s) acknowledge and accept that BMJ may make additional changes to the Contribution as considered necessary in accordance with standard editorial processes whether before or after publication. The Corresponding Author will usually see proofs for their Contribution and every effort will be made to consult with the Corresponding Author if substantial alterations are made. BMJ may also retract or publish a correction or other notice when it considers this appropriate for legal or editorial reasons and this shall be at its absolute discretion which shall be exercised reasonably.

  • Continuing Rights and Obligations After the satisfaction and discharge of this Indenture, this Indenture will continue for (i) rights of registration of transfer and exchange, (ii) replacement of mutilated, destroyed, lost or stolen Notes, (iii) the rights of the Noteholders to receive payments of principal of and interest on the Notes, (iv) the obligations of the Indenture Trustee and any Note Paying Agent under Section 3.3, (v) the rights, obligations and immunities of the Indenture Trustee under this Indenture and (vi) the rights of the Secured Parties as beneficiaries of this Indenture in the property deposited with the Indenture Trustee payable to them for a period of two years after the satisfaction and discharge.

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