Resolutions: Written Consent of General Partners
(Limited Partnership as Borrower with Limited Partnership as General Partner, Acquisition Loan)

Summary

This template for resolutions of the general partners of borrower (also referred to as a written consent of general partners) are for delivery by a general partner (organized as a limited partnership) of the borrower entity (also organized as a limited partnership), usually to a lender at the closing of an acquisition loan transaction. This template includes practical guidance, drafting notes, alternate clauses and optional clauses. In these resolutions, the general partner of the borrower grants authority to certain designated officers of the general partner entity to execute documents on behalf of and in its capacity as general partner of the borrower, in connection with the acquisition and financing of real property, and ratify all related actions taken by such officers. These resolutions are typically attached as exhibits to the certificate of the general partner. For a full listing of key content covering construction, see Commercial Real Estate Acquisition Loan Resource Kit. For a full listing of key content covering acquisition financing, see Junior Associate Real Estate Resource Kit (Acquisition Finance). For a template certificate of the general partner, see Certificate of General Partner of Borrower (Limited Partnership).