Status of Limited Partners. Section 14.1 The Limited Partners shall not participate in the management or control of the Partnership's business nor shall they transact any business for the Partnership, nor shall they have the power to act for or bind the Partnership, said powers being vented solely and exclusively in the General Partners.
Status of Limited Partners. 3.6.1 The Limited Partners shall not participate or take part in the control of the Partnership business and shall have no right or authority to act for, or bind, the Partnership.
Status of Limited Partners. (a) Each Limited Partner covenants and agrees that he shall, at the request of the General Partner, sign such documents as the General Partner may reasonably require establishing the status or residence of the Limited Partner. Each Limited Partner represents and warrants that he is not:
Status of Limited Partners. A. The Limited Partners and Special Partners shall not participate in the management or control of the Partnership's business nor shall they transact any business for the Partnership nor shall they have the power to sign for or bind the Partnership, said powers being vested solely and exclusively in the General Partner. The Limited Partners and Special Partners shall not be bound by, or be personally liable for, the expenses, liabilities or obligations of the Partnership, except to the extent of their Capital Accounts. The Partnership Interest owned by a Limited Partner or Special Partner shall be fully paid and nonassessable. In addition to those described elsewhere in the Partnership Agreement, the Limited Partners and Special Partners shall have the following rights, powers, privileges, duties and liabilities:
Status of Limited Partners. In addition to Guarantor, as of the date hereof, the only other partner in Borrower is Cedar Bay Company, a New York general partnership ("Limited Partner"), which Limited Partner is solely a limited partner of Borrower.
Status of Limited Partners. Each Limited Partner represents and warrants to each other Limited Partner and to the General Partner that it:
Status of Limited Partners. Each Limited Partner covenants and agrees that he shall, at the request of the General Partner, sign such documents as the General Partner may reasonably require establishing the status or residence of the Limited Partner. Each Limited Partner represents and warrants that he is not any of the following: “non-resident”, partnership, “tax shelter”, “tax shelter investment”, any entity an investment in which would be a “tax shelter investment” or in which a “tax shelter investment” has an interest, within the meaning of the Tax Act; and “financial institution” as defined in subsection 142.2(1) of the Tax Act. Any Limited Partner whose status changes with respect to the foregoing or who fails to provide evidence satisfactory to the General Partner of such status when requested to do so from time to time shall be removed as a Limited Partner by the redemption of his Units in accordance with Article 5. In addition, any Limited Partner that is or becomes a “non-resident” within the meaning of the Tax Act, a partnership, or a “financial institution” within the meaning of Section 142.2 of the Tax Act (as same may be amended or replaced from time to time), shall disclose such status to the General Partner at the time of subscription (or when such status changes) and the General Partner may restrict the participation of any such Limited Partner or require any such Limited Partner to redeem all or some of such Limited Partner’s Units.
Status of Limited Partners. 10.01 Status of each Limited Partner ------------------------------ Each Limited Partner represents and warrants to each other Partner that such Limited Partner has and shall have the capacity and competence, and if a corporation, the necessary corporate capacity, to enter into and be bound by this Agreement.
Status of Limited Partners. (a) The Limited Partners shall not participate in the management or control of the Partnership’s business, nor shall it transact any business for the Partnership, nor shall it have the power to act for of bind the Partnership, such powers being vested solely and exclusively in, the General Partner.
Status of Limited Partners. 11.1 No Participation in Management of Partnership. Except as specifically provided in this Agreement, the Limited Partners, as such, shall not take part in, or interfere in any manner with the conduct or control of the Partnership's business and shall have no right or authority to act for or bind the Partnership, said powers being vested solely and exclusively in the General Partner.
