Limited Partner Advisory Committee Sample Clauses

Limited Partner Advisory Committee. (a) The General Partner shall establish no later than 30 days following the date of the Final Closing an Advisory Committee to the Partnership and the Parallel Funds (the “Advisory Committee”) consisting of at least three individuals selected by the General Partner as representatives of Limited Partners or investors in Parallel Funds that are not Affiliates of the General Partner, provided, that no Limited Partner or investor in a Parallel Fund shall have more than one representative on the Advisory Committee. The General Partner may from time to time appoint one or more additional members to the Advisory Committee. Any member of the Advisory Committee may resign on written notice to the General Partner, and shall be deemed removed if the Limited Partner or investor in a Parallel Fund that the member represents (i) becomes a Defaulting Partner (or equivalent under any Parallel Fund Agreement), (ii) assigns more than 50% of its Interest in the Partnership or interest in such Parallel Fund to a Person that is not an Affiliate of such Limited Partner or investor in a Parallel Fund (subject to the provisions of Article IX) or (iii) is notified that such member has been removed upon the recommendation of the General Partner with the consent of a majority of the members of the Advisory Committee. Upon the resignation or removal of any member of the Advisory Committee, a new member shall be appointed by the General Partner as soon as practicable.
Sample 1
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Related to Limited Partner Advisory Committee

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