Additional Closings; Additional Limited Partners Sample Clauses

Additional Closings; Additional Limited Partners. (a) The General Partner may, in its sole discretion, admit new Limited Partners to the Partnership and/or new limited partners in any Parallel Fund (subject to the proviso below) at one or more additional closings following the Initial Closing Date (each such closing, an “Additional Closing”), which shall occur, to the extent there are potential investors willing to become Limited Partners (“New Limited Partners”) or Partners willing to increase their Capital Commitments as of such date, at any dates determined by the General Partner, which are expected to occur within approximately the Initial Closing Date, but in no event later than . Each New Limited Partner admitted to the Partnership by the General Partner shall execute and deliver such documents and instruments as the General Partner may approve or request from time to time. As set forth above, the General Partner may also, in its sole discretion, permit existing Partners to increase their Capital Commitment at each Additional Closing, which increase shall be treated in the same manner as an admission of a New Limited Partner. As a condition to becoming a New Limited Partner hereunder or increasing a Partner’s Capital Commitment, as the case may be, at an Additional Closing, the New Limited Partner or the Partner increasing its Capital Commitment shall be required to pay the amounts specified in Sections 3.3(b), (c), (d) and (e). Limited Partners that are admitted to the Partnership at any Additional Closings shall not be entitled to any distributions or allocations relating to any income received by the Partnership prior to their admission.
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