Rights Duties and Restrictions of the General Partner Sample Clauses

Rights Duties and Restrictions of the General Partner. 7.1 Powers and Duties of the General Partner. (a) Subject to Section 7.11 hereof, the General Partner shall be responsible for the management of the Partnership's business and affairs. Except as otherwise herein expressly provided, the General Partner shall have, and is hereby granted, full and complete power, authority and discretion to take such action for and on behalf of the Partnership and in its name as the General Partner shall, in its sole and absolute discretion, deem necessary or appropriate to carry out the Partnership's business and the purposes for which the Partnership was organized. Except as otherwise expressly provided herein, the General Partner shall, on behalf of, and at the expense of, the Partnership, have the right, power and authority: (i) to manage, control, invest, reinvest, acquire by purchase, lease or otherwise, sell, contract to purchase or sell, grant, obtain, or exercise options to purchase, options to sell or conversion rights, assign, transfer, convey, deliver, endorse, exchange, pledge, mortgage, abandon, improve, repair, maintain, insure, lease for any term and otherwise deal with any and all property of whatsoever kind and nature, and wheresoever situated, in furtherance of the business or purposes of the Partnership; (ii) to acquire, directly or indirectly, interests in real estate of any kind and of any type, and any and all kinds of interests therein (including, without limitation, Entities investing therein), and to determine the manner in which title thereto is to be held; to manage (directly or through property managers), insure against loss, protect and subdivide any of the real estate, interests therein or parts thereof; to improve, develop or redevelop any such real estate; to participate in the ownership and development of any property; to dedicate for public use, to vacate any subdivisions or parts thereof, to resubdivide, to contract to sell, to grant options to purchase or lease, to sell on any terms; to convey, mortgage, pledge or otherwise encumber said property, or any part thereof; to lease said property or any part thereof from time to time, upon any terms and for any period of time, and to renew or extend leases, to amend, change or modify the terms and provisions of any leases and to grant options to lease and options to renew leases and options to purchase; to partition 38 or to exchange said real property, or any part thereof, for other real or personal property; to grant easements or charges of an...

Rights Duties and Restrictions of the General Partner. 7.1 EXPENDITURES BY PARTNERSHIP. The General Partner is hereby authorized to pay compensation for accounting, administrative, legal, technical, management and other services rendered to the Partnership and any other expenses necessary for the prudent operation of the General Partner and the Partnership. All of the aforesaid expenditures shall be made on behalf of the Partnership (whether incurred by the General Partner or the Partnership), and the General Partner shall be entitled to reimbursement by the Partnership for any expenditures incurred by it on behalf of the Partnership which shall have been made other than out of the funds of the Partnership. The Partnership shall also assume, be liable for and pay when due all Administrative Expenses and REIT Expenses, and the General Partner may pay such Expenses on behalf of the Partnership and be reimbursed therefor.

Rights Duties and Restrictions of the General Partner. 7.1 Expenditures by Partnership. The General Partner is hereby authorized to pay compensation for accounting, administrative, legal, technical, management and other services rendered to the Partnership. All of the aforesaid expenditures shall be made on behalf of the Partnership and, except as provided below, the General Partner shall be entitled to reimbursement by the Partnership for any expenditures incurred by it on behalf of the Partnership which shall be made other than out of the funds of the Partnership. The Partnership shall also assume, and pay when due, all Administrative Expenses other than REIT Expenses, but only to the extent not paid or payable by the General Partner from cash distributions received by the General Partner directly from any Property Partnership. The General Partner shall use any cash distributions which it receives directly from any Property Partnerships on account of any interest in the Property Partnership which it holds directly (as opposed to through the Partnership) to pay REIT Expenses.

Rights Duties and Restrictions of the General Partner. 34 Section 7.1. Powers and Duties of General Partner 34 Section 7.2. Major Decisions 37 Section 7.3. Reimbursement of the General Partner 38 Section 7.4. Outside Activities of the General Partner 38 Section 7.5. Contracts with Affiliates 38 Section 7.6. Title to Partnership Assets 39 Section 7.7. Reliance by Third Parties 39 Section 7.8. Liability of the General Partner 39 Section 7.9. Officers of the Partnership 40 Section 7.10. Covenants of TER Regarding the Issuance of New Securities 40 Section 7.11. Other Matters Concerning the General Partner 40 Section 7.12. Certain Covenants of the Partnership 41 ARTICLE VIII. DISSOLUTION, LIQUIDATION AND WINDING-UP 42 Section 8.1. Accounting 42 Section 8.2. Distribution on Dissolution 42 Section 8.3. Timing Requirements 43 Section 8.4. Termination 43 Section 8.5. Dissolution 43 Section 8.6. Continuation of the Partnership 44

Rights Duties and Restrictions of the General Partner. 33 Section 7.1. POWERS AND DUTIES OF GENERAL PARTNER........................33 Section 7.2.

Rights Duties and Restrictions of the General Partner