Limited Partners. No person in such person’s capacity as a Limited Partner will have any voice in, or take part in the management of the business or affairs of the Partnership or have the right or authority to act for, or bind the Partnership. The Limited Partners will not be liable for any of the losses, debts or liabilities of the Partnership in excess of the balance of their respective Capital Accounts, except as otherwise expressly provided by law. A General Partner may also be a Limited Partner.
Appears in 14 contracts
Samples: And Restated Agreement (Teebank Family LTD Partnership), Trager Steve, Gilman Sheldon G
Limited Partners. No person in such person’s 's capacity as a Limited Partner will have any voice in, or take part in the management of the business or affairs of the Partnership or have the right or authority to act for, or bind the Partnership. The Limited Partners will not be liable for any of the losses, debts or liabilities of the Partnership in excess of the balance of their respective Capital Accounts, except as otherwise expressly provided by law. A General Partner may also be a Limited Partner.
Appears in 6 contracts
Samples: Agreement (Gilman Sheldon G), Agreement (Trager Scott), Trager Trust of 2012