Common use of Power Coupled With an Interest Clause in Contracts

Power Coupled With an Interest. The foregoing grant of authority by each Limited Partner: (a) is a special power of attorney coupled with an interest in favor of such attorney-in-fact and as such shall be irrevocable and shall survive the death, incapacity, insolvency, dissolution or termination of such Limited Partner; (b) may be exercised for such Limited Partner by a signature of such attorney-in-fact or by listing or referring to the names of all of the Limited Partners, including such Limited Partner, and executing any instrument with a single signature of any one of such attorneys-in-fact acting as attorney-in-fact for all of them; and (c) shall survive the Assignment by any Limited Partner of the whole or any portion of such Limited Partner's Partnership Interest, provided that, if -------- any Assignee of an entire Partnership Interest shall have furnished to the General Partner a power of attorney complying with the provisions of Section 15.1 of this Agreement and the admission to the Partnership of such Assignee as a Substitute Limited Partner shall have been approved by the General Partner, this power of attorney shall survive such Assignment with respect to the assignor Limited Partner for the sole purpose of enabling such attorneys-in-fact to execute, acknowledge and file any instrument necessary to effect such Assignment and admission and shall thereafter terminate with respect to such Limited Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (Icon Holdings Corp)

Power Coupled With an Interest. The foregoing grant of authority by each Limited PartnerPartner in Section 18.1: (ai) is a special power of attorney coupled with an interest in favor of such the attorney-in-fact and as such shall be irrevocable and shall survive the death, incapacity, insolvency, dissolution or termination of such the Limited Partner; (bii) may be exercised for such the Limited Partner by a signature of such the attorney-in-fact or by listing or referring to the names of all of the Limited Partners, including such that Limited Partner, and executing any instrument with a single signature of any one of such the attorneys-in-fact acting as attorney-in-fact for all of them; and (ciii) shall survive the Assignment by any Limited Partner of the whole all or any portion of such the Limited Partner's Partnership Interest’s Units, provided that, if -------- any Assignee of an entire Partnership Interest shall have all of a Limited Partner’s Units has furnished to the General Partner a power of attorney complying with the provisions of Section 15.1 of this Agreement 18.1 and the admission to the Partnership of such the Assignee as a Substitute Limited Partner shall have has been approved by the General Partner, this power of attorney shall survive such the Assignment with respect to the assignor Limited Partner for the sole purpose of enabling such the attorneys-in-fact to execute, acknowledge and file any instrument necessary to effect such the Assignment and admission and shall thereafter terminate with respect to such the assignor Limited Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (LEAF Equipment Finance Fund 4, L.P.)

Power Coupled With an Interest. The foregoing grant of authority by each Limited PartnerPartner in Section 18.1: (a) is a special power of attorney coupled with an interest in favor of such the attorney-in-fact and as such shall be irrevocable and shall survive the death, incapacity, insolvency, dissolution or termination of such the Limited Partner; (b) may be exercised for such the Limited Partner by a signature of such the attorney-in-fact or by listing or referring to the names of all of the Limited Partners, including such that Limited Partner, and executing any instrument with a single signature of any one of such the attorneys-in-fact acting as attorney-in-in- fact for all of them; and (c) shall survive the Assignment by any Limited Partner of the whole all or any portion of such the Limited Partner's Partnership InterestUnits, provided that, if -------- any Assignee of an entire Partnership Interest shall have all of a Limited Partner's Units has furnished to the General Partner a power of attorney complying with the provisions of Section 15.1 of this Agreement 18.1 and the admission to the Partnership of such the Assignee as a Substitute Limited Partner shall have has been approved by the General Partner, this power of attorney shall survive such the Assignment with respect to the assignor Limited Partner for the sole purpose of enabling such the attorneys-in-fact to execute, acknowledge and file any instrument necessary to effect such the Assignment and admission and shall thereafter terminate with respect to such the assignor Limited Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (Lease Equity Appreciation Fund II, L.P.)