@ Germaine 20:53 Oct 7, 2020
I don't think "give guarantees or indemnities = nantir." I read it as meaning the General Partner has the following powers: 1. To borrow money in the name of the partnership; 2. To place the partnership under a contractual obligation to act as guarantor; or 3. To place the partnership under a contractual obligation to pay indemnities, and finally, 4. To encumber (grever, as you said) the partnership's assets in connection with any of those three things. For instance, if the GP signs a loan contract under which the partnership borrows money, as part of that transaction the bank may require the partnership to provide collateral--and the GP can do so. Same thing if the GP signs a contract under which the partnership acts as guarantor for some other party: the partnership might have to agree to a lien on certain assets as part of the deal. Etc. |