Common use of Management and Control of the Partnership Clause in Contracts

Management and Control of the Partnership. A. Subject to the Consent of the Unit Holders as and when required by this Agreement, the General Partner, within the authority granted to it under and in accordance with the provisions of this Agreement, shall have the full and exclusive right to manage and control the business and affairs of the Partnership and to make all decisions regarding the business of the Partnership and shall have all of the rights, powers, and obligations of a general partner of a limited partnership under the laws of the State. B. The Depositary and the Unit Holders, as such, shall not participate in the management of or have any control over the Partnership's business nor shall the Depositary or the Unit Holders, as such, have the power to represent, act for, sign for, or bind the General Partner or the Partnership. The Depositary and each of the Unit Holders hereby consent to the exercise by the General Partner of the powers conferred on it by this Agreement.