The Managing Partner. If you do not want or need a managing partner, delete. The most important issues here are the powers of the managing partner and what he gets paid for the additional work. If each ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
The Managing Partner. 12.1. The Partners shall appoint ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ “ ■ ■ ■ ■ ” ■ ■ ■ ■ .
The Managing Partner. The partners shall elect a managing partner. Though all partners are entitled to take part in all decisions of the Partnership, the partners agree that the managing partner will have the authority to make day-to-day decisions on behalf of the partners, consulting with the other partners to the extent feasible under the circumstances. Any decision made by the managing partner can be overridden by a majority vote of the Partnership.
The Managing Partner. IRL shall act as the managing general partner of the Partnership (the “Managing Partner”) and shall have the full right, power and authority to manage, control, conduct and operate the business of the Partnership, and, except as otherwise set forth in this Agreement, may take any and all action without the consent of the other Partners, including signing and executing in the name of the Partnership deeds, mortgages, bonds, contracts, agreements or other instruments which the Managing Partner reasonably believes are in the best interest of the Partnership. In performing such duties, the Managing Partner may appoint persons to serve as such officers of the Partnership as it deems reasonably necessary to assist in the operations of the Partnership. Any officer appointed by the Managing Partner may be removed by the Managing Partner whenever, in its judgment, the best interest of the Partnership would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. The Managing Partner shall maintain all books and records required by the Act to be maintained at the principal address specified above or at any other office designated by the Managing Partner. The Managing Partner shall make available at the principal place of business such books and records of the Partnership as are required pursuant to the Act. The Managing Partner shall have the right to designate a different registered agent and/or registered office for the Partnership by complying with any requirements pursuant to the Act.
