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).
Appears in 4 contracts
Samples: Investment Management Agreement (Blackstone Infrastructure Strategies L.P.), Investment Management Agreement (Blackstone Infrastructure Strategies L.P.), Limited Partnership Agreement (Blackstone Private Equity Strategies Fund L.P.)
