Holding Partnerships; Down-Stream Blockers Sample Clauses

Holding Partnerships; Down-Stream Blockers. (a) Notwithstanding any other provision of this Agreement, in connection with any investment in a Portfolio Security (or other assets), the General Partner may, in its discretion, form one or more entities treated or taxable as corporations for United States federal income tax purposes (each, a “Down-Stream Blocker”), as subsidiaries of the Partnership or an Alternative Fund, to make a direct or indirect investment in a portfolio Security; provided that in no event shall a Down-Stream Blocker be deemed a Portfolio Security for purposes of this Agreement.
Sample 1
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