Successor Funds Sample Clauses
The Successor Funds clause defines how rights, obligations, or benefits under an agreement extend to future investment vehicles or funds established by the same manager or sponsor. Typically, this clause specifies whether investors in an initial fund have preferential rights, such as the option to invest in subsequent funds or to receive similar terms. By clarifying the treatment of future funds, the clause ensures continuity and transparency for both fund managers and investors, addressing potential disputes over access and terms in subsequent fundraising rounds.
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Successor Funds. At any time, any ECP Member may cause one or more Successor Funds to make any Capital Contributions which such ECP Member is obligated to make. If any Capital Contribution is made by such a Successor Fund, the Board shall cause such Successor Fund to be admitted as an “ECP Member” hereunder for all purposes and in all respects.
Successor Funds. None of the Adviser or any Affiliates of the Adviser may commence the operation of a Successor Fund until the earlier of (1) the end of the Investment Period or (2) the time that at least 75% of the Common Unitholders’ aggregate Capital Commitments have been called pursuant to Section 5.3.
Successor Funds. (a) Except as otherwise expressly provided for in this Agreement, prior to the fourth anniversary of the Last Closing, neither the General Partner, the Investment Manager or an Affiliate thereof (each a “Restricted Person”) may, without the consent of a Majority-in-Interest, accrue a management fee in respect of a new commingled investment fund or other vehicle whose investment strategy, geographical scope and target investments are substantially similar to the Partnership (a “Successor Fund”) for which it acts as general partner, investment manager or AIFM. The foregoing may not restrict a Restricted Person from soliciting participation in or closing a Successor Fund. This Section 7.13 shall not apply in relation to Kieger Private Equity Legacy Fund II SCSp.
(b) Notwithstanding the foregoing, nothing in this Section 7.13 is intended to restrict the establishment, organisation or management of (i) any Partnership vehicle, (ii) any Continuation Fund, (iii) any multi-strategy fund whose investment objective may include investment in similar assets to those of the Partnership, (iv) any Alternative Investment Vehicle, Parallel Vehicle, co-investment vehicle or similar fund, vehicle, account or arrangement formed in connection with any of the foregoing.
Successor Funds. So long as TSL Advisers, LLC or its affiliate is the Adviser of the Company, TSL Advisers, LLC and its affiliates (excluding any TPG Portfolio Company) shall not act as managers of, or the primary source of transactions for, other pooled investment funds the principal objective of which is to source, originate and manage loans to middle-market companies whose principal business operations are in the United States, and from which the Company does not derive a direct or indirect benefit, until the first to occur of (i) the fourth anniversary of the Initial Closing Date, (ii) the date of a Qualified IPO and (iii) the time that at least seventy-five percent (75%) of the Subscribers’ aggregate Capital Commitments have been contributed to the Company. “TPG Portfolio Company” means the issuer of any securities in which an investment fund sponsored by TPG Capital, L.P or its affiliate holds an interest.
Successor Funds. 21 Article VI UNITS; DISTRIBUTIONS 6.1 Units .................................................................................................................................. 24 6.2 Distributions ...................................................................................................................... 24 6.3
Successor Funds. 2.10.1. Prior to the earlier of: (a) the date on which at least 70% (seventy per cent) of the aggregate Capital Commitments, have been invested in Portfolio Investments, or set aside for Reserved Investments, Follow- On Investments; and (b) completion of the Commitment Period, the Investment Manager and Sponsor shall not, and shall procure that none of its Affiliates nor the Key Persons, shall, admit investors to, act as key person, investment manager, sponsor and/or investment advisor to, and/or secure any investment opportunity with respect to, any other investment vehicle or managed account with investment objectives substantially similar to those of the Fund (“Successor Fund”). The Investment Manager may, in accordance with the Applicable Law, set up or manage funds whose investment objectives are different to that the Fund.
2.10.2. The Investment Manager shall immediately notify the Contributors if any Successor Fund admits any investors or is organised.
Successor Funds. The General Partner shall not in the future form or act as a general partner or manager of a limited partnership, a limited liability company, or other pooled investment vehicle with an investment strategy substantially similar to that of the Partnership, except for any AIV (defined below) or SPV (defined below, any such pooled investment vehicle, being a “Successor Fund”) prior to the earlier to occur of (a) the expiration or termination of the Investment Period; and (b) such time as at least eighty-five percent (85%) of the aggregate capital commitments to the Partnership (excluding any capital commitments of any Defaulting Partner) have been (i) invested; (ii) expended; (iii) committed; and/or (iv) reserved for expenses and liabilities of the Partnership or for Follow-On Investments.
Successor Funds. (a) Except as otherwise expressly provided for in this Agreement, prior to the earlier of (i) the expiration or termination of the Commitment Period and (ii) the first date on which Capital Contributions exceeds 75% of aggregate Fund Commitments, neither the General Partner, the Portfolio Manager or an Affiliate thereof (each a “Restricted Person”) may, without the consent of the Investor Advisory Committee, accrue a management fee in respect of a new commingled investment fund or other vehicle whose investment strategy, geographical scope and target investments are substantially similar to the Partnership (a “Successor Fund”) for which it acts as general partner, investment manager or AIFM. The foregoing may not restrict a Restricted Person from soliciting participation in or closing a Successor Fund.
(b) Notwithstanding the foregoing, nothing in this Section 6.13 is intended to restrict the establishment, organisation or management of (i) any Fund vehicle, (ii) any Continuation Fund, (iii) any multi-strategy fund whose investment objective may include investment in similar assets to those of the Partnership, (iv) any Alternative Investment Vehicle, Parallel Vehicle, co-investment vehicle or similar fund, vehicle, account or arrangement formed in connection with any of the foregoing.