Common use of Admission of the Limited Partner Clause in Contracts

Admission of the Limited Partner. Pursuant to the provisions of Section 3.1(f) of the Limited Partnership Agreement, the General Partner hereby designates a new series of Class D Common Units, which shall be “Class D-35 Common Units.” The award of one Class D-35 Common Unit described in this Section 1 has been approved under the 2013 Plan. The Limited Partner shall be admitted as a limited partner of the Partnership as of the Admission Date, and the General Partner shall then cause the Limited Partner to be named as a Limited Partner in the books of the Partnership and the Partnership shall issue to the Limited Partner one Class D-35 Common Unit (the “Initial Class D Common Unit”) pursuant to and subject to the 2013 Plan. The Limited Partner agrees that, as of the Admission Date, he shall be bound by the terms and provisions of the Limited Partnership Agreement and shall execute the signature page of the Limited Partnership Agreement attached hereto. Upon the Admission Date, the Limited Partner’s initial Capital Account balance will be $0 (zero dollars). The Limited Partner is hereby designated an “Original Partner” (for purposes of the Limited Partnership Agreement) by the General Partner as of the Admission Date and the rights, duties and obligations of the Limited Partner under the Limited Partnership Agreement following his admission to the Partnership shall, except to the extent modified by the terms of this Agreement, be the same as those of the previously admitted Original Partners thereunder. The Limited Partner hereby agrees not to exchange the Initial Class D Common Unit (or a Class A Common Unit into which it converts) for so long as he is an Active Individual LP and agrees that such Common Unit and any Units that the Limited Partner may receive in a reallocation from other Partners under the Limited Partnership Agreement shall automatically be forfeited and cancelled upon the Limited Partner ceasing to be an Active Individual LP.

Admission of the Limited Partner. Pursuant to the provisions of Section 3.1(f3.1(g) of the Limited Partnership Agreement, the General Partner hereby designates a new series of Class D E Common Units, which shall be “Class D-35 E-5 Common Units.” The award of one Class D-35 Common Unit described in this Section 1 has been approved under ”. Upon the 2013 Plan. The Admission Date, the Limited Partner shall be admitted as a limited partner of the Partnership as of the Admission DatePartnership, and the General Partner shall then cause the Limited Partner to be named as a Limited Partner in the books of the Partnership and the Partnership shall issue to the Limited Partner one 200,000 Class D-35 E-5 Common Unit Units (the “Initial “ Class D E-5 Common UnitUnits”) pursuant to and subject to the 2013 Sculptor Incentive Plan; provided, that the Limited Partner enters into an award agreement evidencing such grant substantially in the form attached hereto as Appendix A. The Class E-5 Common Units shall be subject to the terms and conditions of the Class E-5 Common Unit Award Agreement and the respective Limited Partnership Agreement of each of the Operating Partnerships then in-effect, including, but not limited to, the vesting and forfeiture terms set forth therein. The Limited Partner agrees that, as of the Admission Date, he shall to be bound by the terms and provisions of the Limited Partnership Agreement as of the Admission Date and shall execute the signature page of the Limited Partnership Agreement attached hereto. Upon the Admission Date, the The Limited Partner’s initial Capital Account balance on the Admission Date will be $0 (zero dollars). The Limited Partner is hereby designated an “Original Partner” (for purposes of the Limited Partnership Agreement) by the General Partner as of the Admission Date and the rights, duties and obligations of the Limited Partner under the Limited Partnership Agreement following his the admission of the Limited Partner to the Partnership shall, except to the extent modified by the terms of this Agreement, be the same as those of the previously admitted Original Partners thereunder. The Limited Partner hereby agrees not to exchange the Initial Class D Common Unit (or a Class A Common Unit into which it converts) for so long as he is an Active Individual LP and agrees that such Common Unit and any Units that the Limited Partner may receive in a reallocation from other Partners under the Limited Partnership Agreement shall automatically be forfeited and cancelled upon the Limited Partner ceasing to be an Active Individual LP.

Admission of the Limited Partner. Pursuant to the provisions of Section 3.1(f) of the Limited Partnership Agreement, the General Partner hereby designates a new series of Class D Common Units, which shall be “Class D-35 D-4 Common Units.” The award of one Class D-35 D-4 Common Unit described in this Section 1 Units has been approved under the 2013 Plan. The Limited Partner shall be deemed admitted as a limited partner of the Partnership as at the time the Limited Partner and the General Partner have each executed this Agreement and the signature page of the Admission Date, Limited Partnership Agreement attached hereto and the General Partner shall then cause the Limited Partner to be named as a Limited Partner in the books of the Partnership and the Partnership shall issue to the Limited Partner one the number of Class D-35 D-4 Common Unit (the “Initial Class D Common Unit”) Units set forth on Schedule A hereto pursuant to and subject to the 2013 Plan. The Limited Partner agrees that, as of the Admission Date, he shall be bound by the terms and provisions of the Limited Partnership Agreement and shall execute the signature page of the Limited Partnership Agreement attached hereto. Upon the Admission Datesuch admission, the Limited Partner’s initial Capital Account balance will shall be $0 (zero dollars)as set forth on Schedule A hereto. The Limited Partner is hereby designated as an “Original Partner” (for purposes of the Limited Partnership Agreement) by the General Partner as of the Admission Date and the rights, duties and obligations of the Limited Partner under the Limited Partnership Agreement following his admission to the Partnership shall, except to the extent modified by the terms of this Agreement, be the same as those of the previously admitted Original Partners thereunder. The Limited Partner hereby agrees not , including with respect to exchange the Initial Class D Common Unit (or a Class A Common Unit into which it converts) for so long as he is an Active Individual LP and agrees that such Common Unit and any Units that the Limited Partner may receive Partner’s right to participate in a reallocation from other distributions made to the Limited Partners under the Limited Partnership Agreement shall automatically be forfeited and cancelled upon with respect to the fourth quarter of 2010. Following the Admission Date, the Limited Partner ceasing shall be eligible to be an Active participate in any benefit plans or programs sponsored or maintained by the Partnership and its Affiliates (including, without limitation, any life insurance, disability insurance and liability insurance), on the same general terms provided to other Individual LPLimited Partners.

Admission of the Limited Partner. Pursuant to the provisions of Section 3.1(f) of the Limited Partnership Agreement, the General Partner hereby designates a new series of Class D Common Units, which shall be “Class D-35 D-4 Common Units.” The award of one Class D-35 D-4 Common Unit described in this Section 1 Units has been approved under the 2013 Plan. The Limited Partner shall be deemed admitted as a limited partner of the Partnership as at the time the Limited Partner and the General Partner have each executed this Agreement and the signature page of the Admission Date, Limited Partnership Agreement attached hereto and the General Partner shall then cause the Limited Partner to be named as a Limited Partner in the books of the Partnership and the Partnership shall issue to the Limited Partner one the number of Class D-35 D-4 Common Unit (the “Initial Class D Common Unit”) Units set forth on Schedule A hereto pursuant to and subject to the 2013 Plan. The Limited Partner agrees that, as of the Admission Date, he shall be bound by the terms and provisions of the Limited Partnership Agreement and shall execute the signature page of the Limited Partnership Agreement attached hereto. Upon the Admission Datesuch admission, the Limited Partner’s initial Capital Account balance will shall be $0 (zero dollars)as set forth on Schedule A hereto. The Limited Partner is hereby designated as an “Original Partner” (for purposes of the Limited Partnership Agreement) by the General Partner as of the Admission Date and the rights, duties and obligations of the Limited Partner under the Limited Partnership Agreement following his admission to the Partnership shall, except to the extent modified by the terms of this Agreement, be the same as those of the previously admitted Original Partners thereunder. Following the Admission Date, the Limited Partner shall be eligible to participate in any benefit plans or programs sponsored or maintained by the Partnership and its Affiliates (including, without limitation, any life insurance, disability insurance and liability insurance), on the same general terms provided to other Individual Limited Partners. The Limited Partner hereby agrees not to exchange the Initial Class D Common Unit (or a Class A Common Unit into which it converts) for so long as he is an Active Individual LP acknowledges and agrees that such Common Unit and he will not participate in any Units that distributions to be made to the Limited Partner may receive in a reallocation from other Partners under the Limited Partnership Agreement shall automatically be forfeited and cancelled upon (“Partnership Distributions”) with respect to the Limited Partner ceasing to be an Active Individual LPthird quarter of 2010.

Admission of the Limited Partner. Pursuant to the provisions of Section 3.1(f) of the Limited Partnership Agreement, the General Partner hereby designates a new series of Class D Common Units, which shall be “Class D-35 D-4 Common Units.” The award of one Class D-35 D-4 Common Unit described in this Section 1 Units has been approved under the 2013 Plan. The Limited Partner shall be deemed admitted as a limited partner of the Partnership as at the time the Limited Partner and the General Partner have each executed this Agreement and the signature page of the Admission Date, Limited Partnership Agreement attached hereto and the General Partner shall then cause the Limited Partner to be named as a Limited Partner in the books of the Partnership and the Partnership shall issue to the Limited Partner one the number of Class D-35 D-4 Common Unit (the “Initial Class D Common Unit”) Units set forth on Schedule A hereto pursuant to and subject to the 2013 Plan. The Limited Partner agrees that, as of the Admission Date, he shall be bound by the terms and provisions of the Limited Partnership Agreement and shall execute the signature page of the Limited Partnership Agreement attached hereto. Upon the Admission Datesuch admission, the Limited Partner’s 's initial Capital Account balance will shall be $0 (zero dollars)as set forth on Schedule A hereto. The Limited Partner is hereby designated as an “Original Partner” (for purposes of the Limited Partnership Agreement) by the General Partner as of the Admission Date and the rights, duties and obligations of the Limited Partner under the Limited Partnership Agreement following his admission to the Partnership shall, except to the extent modified by the terms of this Agreement, be the same as those of the previously admitted Original Partners thereunder. Following the Admission Date, the Limited Partner shall be eligible to participate in any benefit plans or programs sponsored or maintained by the Partnership and its Affiliates (including, without limitation, any life insurance, disability insurance and liability insurance), on the same general terms provided to other Individual Limited Partners. The Limited Partner hereby agrees not to exchange the Initial Class D Common Unit (or a Class A Common Unit into which it converts) for so long as he is an Active Individual LP acknowledges and agrees that such Common Unit and he will not participate in any Units that distributions to be made to the Limited Partner may receive in a reallocation from other Partners under the Limited Partnership Agreement shall automatically be forfeited and cancelled upon with respect to the Limited Partner ceasing to be an Active Individual LPthird quarter of 2010.