Rights and Obligations of Partners. 4.1 Rights and Obligations of the General Partner. Except as set forth in Section 4.2, in addition to the rights and obligations set forth elsewhere in this Agreement, the General Partner shall have the following rights and obligations:
Rights and Obligations of Partners. 4.1 Management of Partnership 10 4.2 Management Committee 10
Rights and Obligations of Partners. 1 LIMITED LIABILITY. (a) Each Limited Partner's liability with respect to the Partnership and any subsidiary of the Partnership shall be limited as provided in the Act, this Agreement or any applicable law. A Limited Partner shall not be personally liable for any debts, obligations, liabilities or losses of the Partnership, or of any subsidiary of the Partnership, as the case may be, whether arising in contract, tort or otherwise, beyond its respective Capital Contribution to the Partnership and its pro rata portion of the Partnership's undistributed profits, except as may otherwise be provided for by law. No Partner shall have any liability for the restoration of the deficit of such Partner's Capital Account and the return of the Capital Contribution of any other Partner unless otherwise provided in this Agreement.
Rights and Obligations of Partners. Section 7.01
Rights and Obligations of Partners. Section 9.01 No Loans or Additional Contributions ------------ ------------------------------------ A Partner shall be liable to make only the Capital Contributions required under Article 4 hereof. No Partner shall be required to contribute to the Partnership any other funds or to lend to the Partnership any funds whatsoever, provided that the Partnership and/or certain creditors of the Partnership to the extent required by law may recover from a Partner cash distributions deemed to be a return of capital to the Partner (together with interest thereon) if (i) such cash distributions were made after such creditor advanced credit or funds to the Partnership, or (ii) such creditor advanced credit or funds to the Partnership prior to the date an amendment to the Certificate of Limited Partnership is recorded reflecting such cash distribution as a reduction of capital of the Partner. Notwithstanding the foregoing, however, if necessary to pay expenses or obligations of the Partnership, the General Partner, one or more of its Affiliates, or one or more of the Limited Partners may lend or advance money to or for the benefit of the Partnership with the approval of and on such terms and conditions as may be established by the General Partner. Any such loans shall be segregated in a loans payable account and interest shall be payable on such loans at the prevailing rate then being charged for loans currently outstanding to the Partnership, or if there are no such loans, then for comparable loans by a New York clearing house bank selected by the General Partner, but in no event more than the maximum rate then permitted by applicable law. No such loan shall constitute additional capital or entitle the lending Partner to any rights other than as a creditor of the Partnership.
Rights and Obligations of Partners. 5.1 LIMITED PARTNERS The Limited Partners shall be limited partners within the meaning of the Partnership Act. The Limited Partners as such shall not be bound by the obligations of the Partnership and shall not be obligated to make contributions to the Partnership in excess of the amounts provided for in this Agreement. The Limited Partners shall not be entitled to participate in the management and control of the Partnership and shall have no authority to act for or bind the Partnership.
Rights and Obligations of Partners. 7.1 Limited Liability
Rights and Obligations of Partners. 60 Section 7.01 Limitation of Liability and Duties of Partners; Investment Opportunities 60 Section 7.02 Lack of Authority 62 Section 7.03 No Right of Partition 62 Section 7.04 Indemnification 62 Section 7.05 Limited Partners’ Right to Act 63 Section 7.06 Inspection Rights 64 ARTICLE VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS 65 Section 8.01 Records and Accounting; Other Partnership Information 65 Section 8.02 Fiscal Year 66 ARTICLE IX TAX MATTERS 67 Section 9.01 Preparation of Tax Returns 67 Section 9.02 Tax Elections 67 Section 9.03 Texas Margin Tax Sharing Arrangement 68 Section 9.04 Tax Controversies 68 ARTICLE X RESTRICTIONS ON TRANSFER OF UNITS 70 Section 10.01 Transfers of Common Units 70 Section 10.02 Transfers and Drag of Series A Preferred Units 70 Section 10.03 Restricted Units Legend 72 Section 10.04 Transfer 73 Section 10.05 Assignee’s Rights 73 Section 10.06 Assignor’s Rights and Obligations 73 Section 10.07 Overriding Provisions 74 ARTICLE XI REDEMPTION, CONVERSION AND EXCHANGE RIGHTS; OTHER PROTECTIVE PROVISIONS 75 Section 11.01 Redemption Right of a Common Unitholder 75 Section 11.02 Contribution of the Corporation 79 Section 11.03 Exchange Right of the Corporation 79 Section 11.04 Redemption of Series A Preferred Units 80 Section 11.05 Exchange of Series A Preferred Units for shares of Class A Common Stock 82
Rights and Obligations of Partners. 19 ----------------------------------
Rights and Obligations of Partners
