Restrictions on Authority. Without the unanimous consent of the Partners, no Partner or officer of the Partnership shall have authority to do, or to cause the Partnership to do, any of the following: (i) any act in contravention of this Agreement; (ii) amend this Agreement, except as expressly provided otherwise herein; (iii) possess any property or assign, transfer or pledge the rights of the Partnership in specific property other than for the benefit of the Partnership; (iv) employ, or permit to be employed, the funds or assets of the Partnership in any manner except for the benefit of the Partnership; (v) admit any Person as a Partner of the Partnership; or (vi) cause the Partnership to issue any Interest in the Partnership to any Person other than the initial issuance of Units pursuant to Article II above.
Appears in 3 contracts
Sources: Limited Partnership Agreement (FD Spinco II, Inc.), Limited Partnership Agreement (FD Spinco II, Inc.), Limited Partnership Agreement (FD Spinco II, Inc.)