Common use of Amendments Without Consent Clause in Contracts

Amendments Without Consent. In addition to amendments pursuant to Section 1206, amendments o f this Agreement may be made from time to time by the General Partner, without the consent o f any of the Limited Partners, (a) to cure any ambiguity, or to correct or supplement any provision hereofwhich may be inconsistent with any other provision hereof (b) to delete or add any provision o f this Agreement required to he so deleted or added by any state or provincial securities commissioner or similar official, which addition or deletion is deemed by such commission or official to be for die benefit or protection o f die Limited Partners, (c) to revise this Agreement as necessary to comply or conform with any revisions in applicable laws governing the Partnership, and (d) to reflect the admission o f Substituted Limited Partners or a general partner substituted in the Partnership without the consent of the Limited Partners; provided, however, that no amendment shall be adopted pursuant to clauses (a) through (c) above unless the adoption thereof in die reasonable opinion of the General Partner, is for the benefit o f or not adverse to the interest o f the Limited Partners and in the opinion of counsel, does not affect the limited liability o f the ;|^^Lrmited Partners or the status o f the Partnership as a partnership for income tax purposes.

Appears in 1 contract

Sources: Agreement of Limited Partnership

Amendments Without Consent. In addition to amendments pursuant to Section 1206, amendments o f of this Agreement may be made from time to time by the General Partner, without the consent o f of any of the Limited Partners, (a) to cure any ambiguity, or to correct or supplement any provision hereofwhich may be hereof which maybe inconsistent with any other provision hereof hereof, (b) to delete or add any provision o f this Agreement required to he be so deleted or added by any state or provincial securities commissioner or similar official, simi lar o fficial. which addition or deletion is deemed by such commission or official otfieial to be for die the benefit or protection o f die of the Limited Partners, (c) to revise this Agreement as necessary to comply or conform with any revisions in applicable laws governing the Partnership, and (d) to reflect the admission o f of Substituted Limited Partners or a general partner substituted in the Partnership without the consent of o f the Limited Partners; provided, however, that no amendment shall be adopted pursuant to clauses (a) through (c) above unless the adoption thereof in die the reasonable opinion of o f the General Partner, is for the benefit o f or not adverse to the interest o f of the Limited Partners and in the opinion of counsel, does not affect the limited liability o f of the ;|^^Lrmited Limited Partners or the status o f the Partnership as a partnership for income tax purposes.

Appears in 1 contract

Sources: Agreement of Limited Partnership