Common use of Initial Investment Period Clause in Contracts

Initial Investment Period. The three-year period beginning on February 2, 2004, and ending on February 2, 2007, is referred to herein as the “Initial Investment Period”; provided that the Managing General Partner may extend the Initial Investment Period to end on the latest closing date of any Investment with respect to which the Partnership, or the Managing General Partner on behalf of the Partnership, entered into a binding agreement on or prior to the last day of such initial three year period; provided further that the Initial Investment Period shall in no event be extended beyond February 2, 2008. Upon the termination of the Initial Investment Period, as it may be extended pursuant to the preceding sentence, any remaining Unfunded Commitments attributable to Subscription Agreements entered into during the Initial Offering Period shall be canceled automatically and without any further action by any party, and the Managing General Partner shall have no further right to issue Capital Calls, and Investors shall have no further right to purchase Units in respect of such canceled Unfunded Commitments pursuant to any such Subscription Agreement; provided that the foregoing shall not affect (i) the right of the Managing General Partner or the Partnership to pursue any remedies available to it under this Agreement or at law in respect of any default in respect of a Capital Call issued prior to the termination of the Initial Investment Period, or (ii) the obligation of any Partner with respect to a Capital Commitment attributable to a Subscription Agreement entered into after the Initial Offering Period.

Initial Investment Period. The three-year period beginning on February 2, 2004, the First Third Party Closing Date and ending on February 2, 2007, the third anniversary of such date is referred to herein as the “"Initial Investment Period”"; provided that the Managing General Partner may extend the Initial Investment Period to end on the latest closing date of any Investment with respect to which the Partnership, or the Managing General Partner on behalf of the Partnership, entered into a binding agreement on or prior to the last day of such initial three year period; provided further that the Initial Investment Period shall in no event be extended beyond February 2, 2008the fourth anniversary of the date of the First Third Party Closing Date. Upon the termination of the Initial Investment Period, as it may be extended pursuant to the preceding sentence, any remaining Unfunded Commitments attributable to Subscription Agreements entered into during the Initial Offering Period shall be canceled automatically and without any further action by any party, and the Managing General Partner shall have no further right to issue Capital Calls, and Investors shall have no further right to purchase Units in respect of such canceled Unfunded Commitments pursuant to any such Subscription Agreement; provided that the foregoing shall not affect (i) the right of the Managing General Partner or the Partnership to pursue any remedies available to it under this Agreement or at law in respect of any default in respect of a Capital Call issued prior to the termination of the Initial Investment Period, or (ii) the obligation of any Partner with respect to a Capital Commitment attributable to a Subscription Agreement entered into after the Initial Offering Period.

Initial Investment Period. The three-year period beginning on February 2, 2004, and ending on February 2, 2007, is referred to herein as the “"Initial Investment Period”"; provided that the Managing General Partner may extend the Initial Investment Period to end on the latest closing date of any Investment with respect to which the Partnership, or the Managing General Partner on behalf of the Partnership, entered into a binding agreement on or prior to the last day of such initial three year period; provided further that the Initial Investment Period shall in no event be extended beyond February 2, 2008. Upon the termination of the Initial Investment Period, as it may be extended pursuant to the preceding sentence, any remaining Unfunded Commitments attributable to Subscription Agreements entered into during the Initial Offering Period shall be canceled automatically and without any further action by any party, and the Managing General Partner shall have no further right to issue Capital Calls, and Investors shall have no further right to purchase Units in respect of such canceled Unfunded Commitments pursuant to 20 any such Subscription Agreement; provided that the foregoing shall not affect (i) the right of the Managing General Partner or the Partnership to pursue any remedies available to it under this Agreement or at law in respect of any default in respect of a Capital Call issued prior to the termination of the Initial Investment Period, or (ii) the obligation of any Partner with respect to a Capital Commitment attributable to a Subscription Agreement entered into after the Initial Offering Period.

Initial Investment Period. The three-year period beginning on February 2, 2004, and ending on February 2, 2007, is referred to herein as the “"Initial Investment Period”"; provided that the Managing General Partner may extend the Initial Investment Period to end on the latest closing date of any Investment with respect to which the Partnership, or the Managing General Partner on behalf of the Partnership, entered into a binding agreement on or prior to the last day of such initial three year period; provided further that the Initial Investment Period shall in no event be extended beyond February 2, 2008. Upon the termination of the Initial Investment Period, as it may be extended pursuant to the preceding sentence, any remaining Unfunded Commitments attributable to Subscription Agreements entered into during the Initial Offering Period shall be canceled automatically and without any further action by any party, and the Managing General Partner shall have no further right to issue Capital Calls, and Investors shall have no further right to purchase Units in respect of such canceled Unfunded Commitments pursuant to any such Subscription Agreement; provided that the foregoing shall not affect (i) the right of the Managing General Partner or the Partnership to pursue any remedies available to it under this Agreement or at law in respect of any default in respect of a Capital Call issued prior to the termination of the Initial Investment Period, or (ii) the obligation of any Partner with respect to a Capital Commitment attributable to a Subscription Agreement entered into after the Initial Offering Period.