Limited Partners. (a) The General Partner may admit one or more Limited Partners as of the beginning of each calendar month or at such other times as the General Partner may determine. A Person may be admitted to the Partnership as a Limited Partner without having signed this Agreement. This Agreement shall not be unenforceable by reason of it not having been signed by a person being admitted as a Limited Partner. The General Partner, in its sole and absolute discretion, may reject requests to purchase Units in the Partnership. The General Partner may, in its sole discretion, suspend or terminate the offering of the Units at any time. The books and records of the Partnership shall be revised to reflect the name and Capital Contribution of each Limited Partner that is admitted to the Partnership. (b) Subject to Section 2.10 of this Agreement, when the entire Capital Contribution attributable to Units for which a Partner has subscribed is paid for, those Units will be deemed to be validly issued and fully paid and non-assessable.
Appears in 23 contracts
Samples: Agreement of Limited Partnership (Hatteras Core Alternatives Fund, L.P.), Limited Partnership Agreement (Hatteras Core Alternatives TEI Institutional Fund, L.P.), Agreement of Limited Partnership (Hatteras Core Alternatives Institutional Fund, L.P.)
