Capital Contribution of General Partner. The General Partner, so long as it is a general partner of the Fund, or any substitute general partner, shall invest in the Fund, as a general partnership interest, sufficient capital so that the General Partner will have at all times a capital account equal to 1% of the total capital accounts of the Fund (including the General Partner’s). The General Partner may withdraw any interest it may have as a general partner in excess of such requirement, and may redeem as of any month-end any interest which it may acquire on the same terms as any Limited Partner; provided that it must maintain the minimum interest described in the preceding sentence.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Ml Select Futures I Lp), Limited Partnership Agreement (Ml Select Futures I Lp), Limited Partnership Agreement (Ml Select Futures I Lp)
Capital Contribution of General Partner. The General Partner, so long as it is a general partner of the Fund, or any substitute general partner, shall invest in the Fund, as a general partnership interest, sufficient capital so that the General Partner will have at all times a capital account equal to 1% of the total capital accounts of the Fund (including the General Partner’s's). The General Partner may withdraw any interest it may have as a general partner in excess of such requirement, and may redeem as of any month-end any interest which it may acquire on the same terms as any Limited Partner; provided that it must maintain the minimum interest described in the preceding sentence.
Appears in 1 contract
Samples: Agreement (Ml Select Futures I Lp)
