Limited Partner Giveback. Subject to Section 16.3.2 and Section 16.4 (Other Sources of Recovery), the Fund may require the Partners to return distributions to the Fund to the extent not previously returned in an amount sufficient to satisfy all or any portion of the indemnification and other obligations of the Fund pursuant to Section 16.2 (Indemnification of Covered Persons), whether such obligations or liabilities arise before or after the last day of the Term or, with respect to any Partner, before or after such Partner’s withdrawal from the Fund, provided that the Partners shall return distributions with respect to their share of any such indemnification obligation or liability as follows: if the obligation or liability arises out of a Portfolio Investment: first, by each Partner returning amounts distributed to such Partner in connection with such Portfolio Investment in the reverse order in which such amounts were originally distributed pursuant to Section 14.1 (General) so that each Limited Partner retains cumulative distributions from the Fund (net of any returns of distributions pursuant to this Section 16.3 (Limited Partner Giveback) and pursuant to Section 14.7 (Clawback)) equal to the cumulative amount that would have been distributed to and retained by such Partner had the amount originally distributed with respect to such Portfolio Investment been, at the time of such distribution, reduced by the amount of such obligation or liability; and thereafter, by the Partners in proportion to their Sharing Percentage with respect to such Portfolio Investment; or in any other circumstances, in the reverse order in which distributions were originally made pursuant to Section 14.1 (General) so that each Limited Partner retains cumulative distributions from the Fund (net of any returns of distributions under this Section 16.3 (Limited Partner Giveback) and under Section 14.7 (Clawback)) following such return equal to the cumulative amount that would have been distributed to and retained by such Partner taking into account all Capital Contributions and other payments made by each Partner to the Fund and all distributions made to each Partner by the Fund as of the date of determination. A Limited Partner’s aggregate liability under this Section 16.3 (Limited Partner Giveback) is limited to an amount equal to the lesser of (i) [30]% of all distributions received by such Limited Partner from the Fund, and (ii) [25]% of such Limited Partner’s Commitment. Notwithstanding the foregoing, ...
Limited Partner Giveback. 16.3.1 Subject to Section 16.3.2 and Section 16.4 (Other Sources of Recovery), the Fund may require the Partners to return distributions to the Fund to the extent not previously returned in an amount sufficient to satisfy all or any portion of the indemnification and other obligations of the Fund pursuant to Section 16.2 (Indemnification of Covered Persons), whether such obligations or liabilities arise before or after the last day of the Term or, with respect to any Partner, before or after such Partner’s withdrawal from the Fund, provided that the Partners shall return distributions with respect to their share of any such indemnification obligation or liability as follows:
Limited Partner Giveback. (a) 16.3.1 Subject to Section 16.3.216.3(
Limited Partner Giveback. 4.12.1 Subject to Clause 4.12.2, and upon request of the General Partner, each Limited Partner shall, in addition to its obligations under Clause 4.8.2, return distributions made to such Limited Partner for the purpose of meeting such Limited Partner’s pro rata share of any Partnership obligation or liability arising from: provided that the maximum aggregate amount payable by each Limited Partner under this Clause 4.12.1 shall not exceed .
Limited Partner Giveback survive until the date that each such Proceeding is ultimately resolved and satisfied, and (B) the second[third anniversary] of the end of the Term of the Fund. Any amounts returned by a Partner pursuant to this Section 16.3 (Limited Partner Giveback.) shall be treated as reductions of the applicable distribution amounts received by such Partner and shall not be treated as Capital Contributions; provided, that for purposes of calculating the accrual of the Preferred Return with respect to each Limited Partner such amounts shall be treated as having been received by suchthe Limited Partner as distributions when initially received and returned by suchthe Limited Partner when actually returned. Nothing in this Section 16.3 (Limited Partner Giveback.), express or implied, is intended or shall be construed to give any Person other than the Fund or the Partners any legal or equitable right, remedy or claim under or with respect to this Section 16.3 (Limited Partner Giveback.) or any provision contained herein.
Limited Partner Giveback. Except as required by the Act or other applicable law or as otherwise expressly set forth herein, no Limited Partner shall be required to repay to the Partnership, any Partner or any creditor of the Partnership all or any part of the distributions made to such Limited Partner pursuant hereto; provided, that, subject to the limitations set forth in Section 5.2(c) below, the General Partner may require a Limited Partner (including any former Limited Partner) to return distributions made to such Limited Partner or former Limited Partner for the purpose of meeting such Limited Partner’s pro rata share of the Partnership’s indemnity obligations under Sections 4.4 and 5.4(f), or any liabilities or obligations of the Partnership relating to or arising out of the investment or other activities of the Partnership, in an amount up to, but in no event in excess of, the aggregate amount of distributions actually received by such Limited Partner from the Partnership; provided, further, that a Partner shall be required to return any distribution that was made to such Partner in error within 30 days of the completion of the audit for the year in which such distribution was made. However, if, notwithstanding the terms of this Agreement, it is determined under applicable law that any Limited Partner has received a distribution that is required to be returned to or for the account of the Partnership or Partnership creditors, then the obligation under applicable law of any Limited Partner to return all or any part of a distribution made to such Limited Partner shall be the obligation of such Limited Partner and not of any other Partner. Any amount returned by a Limited Partner pursuant to this Section 5.2(b) shall be treated as a contribution of capital to the Partnership but such amount shall not reduce the Unfunded Commitment of any Limited Partner. For the avoidance of doubt, the General Partner shall be required to return (at the same time as Limited Partners) its pro rata portion (as provided below) of any amounts required to be returned by Limited Partners under this Section 5.2(b) after deduction of amounts set off under Section 5.2(c)(iii). Each Partner’s share shall be determined as the amount that would result in such Partner retaining cumulative distributions from the Partnership (net of any returns of distributions under this Section 5.2(b) or under Section 9.4) equal to the cumulative amount that would have been distributed to and retained by such Partner had th...
Limited Partner Giveback. Except as required by the Act or other applicable law, no Limited Partner will be required to repay to the Partnership, any Partner or any creditor of the Partnership all or any part of the distributions made to such Limited Partner pursuant to Article III; provided that, to the maximum extent permitted by law and subject to the limitations set forth in Section 5.2(d), each Partner (including any former Partner) may be required to return distributions made to such Partner or former Partner in an amount up to, but in no event in excess of, the aggregate amount of distributions actually received by such Partner from the Partnership or any Alternative Investment Vehicle (i) for the purpose of meeting such Partner’s share of the Partnership’s indemnity obligations under Sections 4.4 and 5.4(g), or (ii) if the Partnership is required to return the Investment Proceeds of an Investment. If, notwithstanding the terms of this Agreement, it is determined under applicable law that any Partner has received a distribution which is required to be returned to or for the account of the Partnership, any Partner or Partnership creditors, then the obligation under applicable law of any Partner to return all or any part of a distribution made to such Partner will be the obligation of such Partner and not of any other Partner. Any amount returned by a Partner pursuant to this Section 5.2 will be treated as a contribution of capital to the Partnership.
Limited Partner Giveback. 6.10.1 Subject to Clauses 6.10.4 and 6.5, but otherwise to the maximum extent permitted by law, Limited Partners (including following the dissolution of the Partnership, as former Limited Partners (“Former Limited Partners”) may be required by the Manager or a Liquidating Trustee to return an amount of distributions made to such Limited Partners or Former Limited Partners at any time prior to the earlier of (a) the second anniversary of the date of the relevant distribution(s) to be returned; or (b) the second anniversary of dissolution of the Partnership, (or, in either case, such later period as determined in accordance with Clause 6.10.2 below) for the purpose of meeting the Partnership's indemnification obligations under Clause 12.3.
Limited Partner Giveback
