Excused Limited Partner Disregarded Sample Clauses

Excused Limited Partner Disregarded. The General Partner shall interpret (and amend to the extent necessary) this Agreement with respect to an Excused Limited Partner and the other Limited Partners for all purposes as if such Excused Limited Partner were not a Limited Partner with respect to the Excused Investment (including for purposes of allocations and distributions relating to the Excused Investment), and to any other Portfolio Security the allocation and distributions for which must be adjusted to reflect actual interests therein, and this Agreement shall be interpreted to include, where appropriate, exclusions and limitations to permit the General Partner to carry out the intent of this Section 13.5. An Excused Limited Partner shall have no right to any distributions or allocations in respect of such Excused Investment and all economic and other provisions of this Agreement shall be interpreted as if the Fund were a separate entity with respect to each Excused Investment in which only the Partners who are not Excused Limited Partners with respect to such Excused Investment have invested. In addition, the General Partner may interpret and give effect to the terms of this Section 13.5 with respect to each Feeder Vehicle in the same manner as if the Feeder Partners of such Feeder Vehicle were direct Limited Partners of the Fund in lieu of such Feeder Vehicle.
Sample 1
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