Common use of Rights and Powers of the General Partner Clause in Contracts

Rights and Powers of the General Partner. The General Partner shall have all of the rights and powers of a general partner as provided herein and in the Act as in effect from time to time and as otherwise provided by law. Action taken by the General Partner shall constitute the act of, and serve to bind, the Partnership. In addition, the General Partner is hereby granted the right, power and authority to do on behalf of the Partnership all things which, in its sole judgment, are necessary, proper or desirable to carry out the purposes of the Partnership and to conduct the business of the Partnership. Without limiting the generality of the foregoing, the General Partner shall have this right, power and authority, subject only to the Act and the terms of this Limited Partnership Agreement: 4.3.1 To employ or engage from time to time other persons, firms or corporations to perform services for the Partnership, including persons, firms and corporations that are directly or indirectly employed by, in a control relationship or affiliated with or otherwise related to any Partner, and to compensate such persons, firms or corporations for their performance of such services provided, however, that the employment of such persons shall be effected upon such terms and such compensation as are consistent with the usual terms of employment and the usual compensation as is customary in such person's business; 4.3.2 To enter into a management agreement or agreements with persons, firms and corporations to Manage the Real Estate and Property improvements thereon; 4.