Limitations on Partners. Except as otherwise expressly provided herein and except as may be expressly required by the Partnership Act, Partners (including Special Partners) other than General Partners as such shall have no right to, and shall not, take part in the management, conduct or control of the Partnership’s business or act for or bind the Partnership, and shall have only the rights and powers granted to Partners of the applicable class herein or, to the extent not waivable, in the Partnership Act.
Appears in 2 contracts
Sources: Agreement of Exempted Limited Partnership (Blackstone Group Inc), Amended and Restated Agreement of Exempted Limited Partnership (Blackstone Group Inc)
Limitations on Partners. Except as otherwise expressly provided herein and except as may be expressly required by the Partnership Act, Partners (including Special Partners) other than General Partners as such shall have no right to, and shall not, take part in the management, conduct or control of the Partnership’s business or act for or bind the Partnership, and shall have only the rights and powers granted to Partners of the applicable class herein or, to the extent not waivable, in the Partnership Act.
Appears in 1 contract
Sources: Agreement of Exempted Limited Partnership (Blackstone Group Inc)