Common use of Acceptance Standards and Procedures Clause in Contracts

Acceptance Standards and Procedures. The Fund will not consider any proposed subscription by a Suitable Investor or a Selling Agent Investor (as appropriate) until its or his subscription documents have been completed, signed and delivered. After receipt of the subscription documents, the Fund will determine whether it wishes to accept the offered subscription. The date on which an investor is accepted in to the Fund as a limited partner being the “Investment Date.” Subscriptions for Interests will be accepted only from subscribers that meet the investor suitability standards set forth in the Memorandum. The minimum initial required purchase by any subscriber shall be $25,000 for Class A Interests and Class B, and $1,500,000 for Institutional Interests unless the Suitable Investor otherwise meets the criteria set forth in the Memorandum, plus any applicable selling commission. If there is a conflict regarding a Suitable Investor due to a prior solicitation by another selling agent, the General Partner shall promptly notify the Selling Agent and use reasonable business efforts to reconcile the conflict. The General Partner shall determine in its sole but reasonable discretion whether the Selling Agent’s efforts resulted in the investment into the Fund being made and therefore whether a prospective or existing limited partner is a Selling Agent Investor pursuant to this Agreement, or is attributable to a selling agent other than the Selling Agent.

Acceptance Standards and Procedures. The Fund will not consider any proposed subscription by a Suitable Investor or a Selling Agent Investor (as appropriate) until its or his subscription documents have been completed, signed and delivered. After receipt of the subscription documents, the Fund will determine whether it wishes to accept the offered subscription. The date on which an investor is accepted in to the Fund as a limited partner being the “Investment Date.” Subscriptions for Interests will be accepted only from subscribers that meet the investor suitability standards set forth in the Memorandum. The minimum initial required purchase by any subscriber shall be $25,000 10,000 for Class A Interests and Class B, and $1,500,000 for Institutional Interests Interests, and such other minimums as is determined for future classes, unless the Suitable Investor otherwise meets the criteria set forth in the Memorandum, plus any applicable selling commission. If there is a conflict regarding a Suitable Investor due to a prior solicitation by another selling agent, the General Partner shall promptly notify the Selling Agent and use reasonable business efforts to reconcile the conflict. The General Partner shall determine in its sole but reasonable discretion whether the Selling Agent’s efforts resulted in the investment into the Fund being made and therefore whether a prospective or existing limited partner is a Selling Agent Investor pursuant to this Agreement, or is attributable to a selling agent other than the Selling Agent.