Common use of Defaulted Capital Commitment Clause in Contracts

Defaulted Capital Commitment. Prior to an Exchange Listing, with respect to the Remaining Capital Commitment of any Defaulting Member, the Investment Manager may (i) admit to the Fund, including in connection with the sale of a Defaulting Member’s Units in accordance with Section 5.2(d), a Substitute Member to assume all or any portion of such Remaining Capital Commitment on the terms and conditions (to the extent applicable) set forth in Section 10.2 without the consent of any other Member, or (ii) offer to the non-Defaulting Members, subject to such timing and other conditions as the Investment Manager may impose, the opportunity to increase their respective Remaining Capital Commitments in proportion to their relative Capital Commitment Percentages (with a similar proportionate right to further increase their respective Remaining Capital Commitments in the event that one or more non-Defaulting Members declines such offer), up to an aggregate amount equal to such Defaulting Member’s Remaining Capital Commitment. The Investment Manager shall revise the Schedule to reflect the admission of any Substitute Member or change in Capital Commitments contemplated by this Section 5.2(c).

Defaulted Capital Commitment. Prior to an Exchange Listing, with With respect to the Remaining Capital Commitment of any Defaulting Member, the Investment Manager may (i) admit to the Fund, including in connection with the sale of a Defaulting Member’s Units in accordance with Section 5.2(d), a Substitute Member to assume all or any portion of such Remaining Capital Commitment on the terms and conditions (to the extent applicable) set forth in Section 10.2 without the consent of any other Member, or (ii) offer to the non-Defaulting Members, subject to such timing and other conditions as the Investment Manager may impose, the opportunity to increase their respective Remaining Capital Commitments in proportion to their relative Capital Commitment Percentages (with a similar proportionate right to further increase their respective Remaining Capital Commitments in the event that one or more non-Defaulting Members declines such offer), up to an aggregate amount equal to such Defaulting Member’s Remaining Capital Commitment. The Investment Manager shall revise the Schedule to reflect the admission of any Substitute Member or change in Capital Commitments contemplated by this Section 5.2(c).