Common use of PROCEDURE AS TO NEW MANAGERS Clause in Contracts

PROCEDURE AS TO NEW MANAGERS. One or more additional managers may be admitted to this Fund by the Manager, without the consent of any Investor, if, but only if, the additional manager or managers are affiliates of the Manager or successors to all or a material portion of the Manager's equity or assets. The Manager shall promptly notify the Investors of the admission of any such affiliated manager(s) (such notice need not, however, be prior notice). No manager which is not affiliated with the Manager may be admitted to this Fund without the consent of Investors holding more than 50% of the outstanding Units then held by Investors; provided, that the foregoing restriction shall not apply in the case of a sale of all or a material portion of the Manager's equity or assets.

PROCEDURE AS TO NEW MANAGERS. One or more additional managers may be admitted to this Fund by the Manager, without the consent of any Investor, if, but only if, the additional manager or managers are affiliates of the Manager or successors to all or a material portion of the Manager's ’s equity or assets. The Manager shall promptly notify the Investors of the admission of any such affiliated manager(s) (such notice need not, however, be prior notice). No manager which is not affiliated with the Manager may be admitted to this Fund without the consent of Investors holding more than 50% of the outstanding Units then held by Investors; provided, that the foregoing restriction shall not apply in the case of a sale of all or a material portion of the Manager's ’s equity or assets.