Common use of Management of Partnership Clause in Contracts

Management of Partnership. The management, control, and direction of the Partnership and its operations, business, and affairs shall be vested exclusively in the General Partner, which shall have the right, power, and authority, acting solely by itself and without the necessity of approval by the Limited Partner or any other Person, to carry out any and all of the purposes of the Partnership and to perform or refrain from performing any and all acts that the General Partner may deem necessary, desirable, appropriate, or incidental thereto. The Limited Partner may not participate in the management, control, or direction of the Partnership’s operations, business, or affairs, transact any business for the Partnership, or have the power to act for or on behalf of or to bind the Partnership, such powers being vested solely and exclusively in the General Partner.

Management of Partnership. The management, control, and direction of the Partnership and its operations, business, business and affairs shall be vested fully and exclusively in the General Partner, which shall have the right, power, power and authority, acting solely by itself and without the necessity of approval by the any Limited Partner (unless otherwise specified herein) or any other Person, to carry out any and all of the purposes of the Partnership and to perform or refrain from performing any and all acts that the General Partner may deem necessary, desirable, appropriate, appropriate or incidental thereto. The No Limited Partner may not shall participate in the management, control, control or direction of the Partnership’s operations, business, business or affairs, be involved in or transact any business for the Partnership, Partnership or have the power to act for or on behalf of or to bind the Partnership, such powers being vested solely and exclusively in the General Partner.