Common use of Nature of Power Clause in Contracts

Nature of Power. The power of attorney granted pursuant to Section 1 above: (a) shall be a special power of attorney coupled with an interest and shall be irrevocable so long as the General Partner continues to be the managing general partner of the Partnership; and (b) shall survive the delivery of an assignment by the undersigned of the whole or a portion of its interest in the Partnership, except that where the purchaser, transferee or assign thereof shall have the right to be, or with the consent of the General Partner is admitted as, a substituted limited partner, the power of attorney shall survive the delivery of such assignment for the sole purpose of enabling such attorney-in-fact to execute, acknowledge, swear to and file any such agreement, certificate, instrument or document necessary to effect such substitution.

Nature of Power. The power of attorney granted pursuant to Section 1 above: (a) shall be a special power of attorney coupled with an interest and shall be irrevocable so long as the General Partner continues to be the managing general partner of the Partnership; and (b) shall survive the delivery of an assignment by the undersigned of the whole or a portion of its interest in the Partnership, except that where the purchaser, transferee or assign thereof shall have the right to be, or with the consent of the General Partner is admitted as, a substituted limited partner, the power of attorney shall survive the delivery of such assignment for the sole purpose of enabling such attorney-in-fact to execute, acknowledge, swear to and file any such agreement, certificate, instrument or document necessary to effect such substitution.. [m:\wp\rhgcntrc\actech]