Managing General Partner definition
Examples of Managing General Partner in a sentence
The Managing General Partner shall have the right to vote in every major decision including decisions of the General Partners which require a vote of a majority in interest of the General Partners.
The overall management and control of the business, assets and affairs of the Partnership shall be vested in the Managing General Partner, in extension of and not in limitation of the powers given it by law.
The Managing General Partner shall thereupon cease to be a Partner and shall cease to have any rights and obligations under or with respect to this Agreement or any related agreement, as then in effect.
To the extent that certain duties and obligations hereunder are specifically allocated to Administrative General Partner, the Managing General Partner shall have no obligation to perform, nor any liability for, those duties and obligations.
In order to ensure compliance with the foregoing, the Managing General Partner shall cause the Management Agent to keep and maintain such written tenant’s certifications and income eligibility evidence as may be necessary to establish compliance with the foregoing.