Management Duties and Restrictions. Except as otherwise provided herein, management of the business and affairs of the Partnership shall be vested exclusively in the General Partner. A Limited Partner shall not “participate in the control” of the business of the Partnership, as described in Section 303 of the Act. A Limited Partner (who is not also a General Partner) shall not transact business in the Partnership’s name or on its behalf or have the power to sign documents for or otherwise bind the Partnership.
Appears in 3 contracts
Sources: Limited Partnership Agreement (HTS-Sunset Harbor Partner, L.L.C.), Limited Partnership Agreement (HTS-Sunset Harbor Partner, L.L.C.), Partnership Agreement (HTS-Sunset Harbor Partner, L.L.C.)