General Partner as Limited Partner. The General Partner shall also be a Limited Partner to the extent that it purchases or becomes a transferee of all or any part of the Interest of a Limited Partner, and to such extent, in its capacity as such, shall be treated as a Limited Partner in all respects, except as provided in the definition of “Majority (or other specified percentage) in Interest of the Private Investors.”
General Partner as Limited Partner. If the General Partner should acquire an interest as a limited partner, the General Partner shall, with respect to such interest, enjoy all the rights and be subject to all the obligations and duties of a limited partner to the extent of such interest.
General Partner as Limited Partner. The General Partner shall also be a Limited Partner to the extent that it holds Units, and to such extent shall be treated in all respects as a Limited Partner.
General Partner as Limited Partner. The General Partner may be a Limited Partner to the extent that it (a) contributes capital under Section 6.3, or (b) purchases or otherwise acquires or becomes the transferee of all or any part of a Limited Partnership Interest. The General Partner's Capital Contribution pursuant to Section 6.1 shall be made solely in its capacity as general partner and shall not entitle the General Partner to any rights as a Limited Partner.
General Partner as Limited Partner. The General Partner may also be a Limited Partner, including but not limited to the extent that it purchases Units, elects to receive all or a portion of the Performance Participation Allocation in Units, or becomes a transferee of all or any part of the Units of a Limited Partner, and to such extent shall be treated as a Limited Partner in all respects, except as provided below. Any Units held by Blackstone or an Affiliate of the Investment Manager or the General Partner may bear no or reduced Management Fees, Servicing Fees or the Performance Participation Allocation (in the manner each such Partner and the General Partner shall agree upon such Partner’s admission to the Partnership, including pursuant to a rebate of such amounts).
General Partner as Limited Partner. The General Partner may also be a Limited Partner to the extent the General Partner contributes capital, and the General Partner’s contribution is identified as that of a Limited Partner in the records of the Partnership. The General Partner has purchased its General Partner’s interest and its Limited Partner’s interest (if any) for cash and cash equivalency.
General Partner as Limited Partner. If the General Partner acquires or becomes a transferee of all or a part of the Partnership Interest of a Limited Partner, the General Partner, subject to the provisions of Article X, shall be treated also as a Limited Partner to the extent of such Partnership Interest.
General Partner as Limited Partner. The General Partner may also be a Limited Partner, and in such event its rights, powers, restrictions and liabilities as the General Partner shall remain unaffected, and in addition it shall, in respect of its Capital Contributions as a Limited Partner, have all of the rights and powers and be subject to all of the restrictions and liabilities of a Limited Partner, except as otherwise expressly provided in this Agreement. [The remainder of this page has been left blank intentionally.]
General Partner as Limited Partner. The General Partner and its Affiliates shall also be a Limited Partner to the extent that any of them acquires all or any part of an Interest of a Limited Partner, and to such extent shall be treated as a Limited Partner in all respects except as provided below. Any Interest of a Limited Partner that is held by the General Partner or its Affiliates shall (a) be voted and/or abstained in the same manner and proportions as the aggregate Interests of the other Limited Partners are voted and/or abstained (so as to provide that such Limited Partners who are Affiliates of the General Partner shall not be able to affect the outcome of any vote by the other Limited Partners) and (b) participate in Investments on the same terms and conditions as the other Limited Partners except with respect to Management Fees or the Carried Interest, each to the extent agreed by the General Partner and such Partner upon such Partner’s admission to the Partnership.
General Partner as Limited Partner. The General Partner may also hold an interest in the Partnership as a Limited Partner.
