Common use of Derivative Action Clause in Contracts

Derivative Action. To the fullest extent permitted by Applicable Law, no Limited Partner may initiate, assert or maintain any derivative action or claim on behalf of, or seeking relief for, the Onshore Partnership without first obtaining the affirmative consent of at least a Majority in Interest of the Limited Partners.

Derivative Action. To the fullest extent permitted by Applicable Law, including ERISA, no Limited Partner may initiate, assert or maintain any derivative action or claim on behalf of, or seeking relief for, the Onshore Partnership without first obtaining the affirmative consent of at least a Majority in Interest of the Limited Partners.