Withdrawals of Limited Partners’ Capital Account. (a) A Limited Partner will be generally permitted to make withdrawals from its Capital Account as of the last business day of any calendar quarter, or such other date as the General Partner may determine, in its sole discretion (each such date, a “Withdrawal Date”) subject to the provisions of this Section 4.01, by delivering to the General Partner a request in writing for withdrawal in the form of Appendix A to the Subscription Agreement provided that the Partnership receives notice of such withdrawal not less than forty-five (45) days prior to the applicable Withdrawal Date. In the event of a partial withdrawal, a Limited Partner must withdraw a minimum of $10,000 and shall maintain a minimum Capital Account balance, after giving effect to the withdrawal, of not less than $500,000. The General Partner, in its sole discretion, may waive this minimum amount.
Withdrawals of Limited Partners’ Capital Account. (a) A Limited Partner will be generally permitted to make withdrawals from its Capital Account on any business day, or such other date as the General Partner may determine, in its sole discretion (each such date, a “Withdrawal Date”) subject to the provisions of this Section 4.01, by delivering to the General Partner a request via electronic submission in the form of Appendix A to the Subscription Agreement provided that the Partnership receives notice of such withdrawal not less than one (1) day prior to the applicable Withdrawal Date (unless such notice period is waived in whole or in part by the General Partner in its sole discretion with respect to one or more Limited Partners) and provided further, as to Class C Limited Partners and solely Class C Limited Partners, the amount to be withdrawn has been invested in the Partnership for not less than twelve (12) months (the “Lock-Up Period”). The GP, in its sole discretion, may reduce or waive the Notice Period or the Lock-Up Period. Withdrawals by Class C Limited Partners permitted by the GP, in its sole discretion, during the Lock-Up Period shall be subject to an early withdrawal penalty of twenty percent (20%) of the withdrawal proceeds (the “Early Withdrawal Penalty”). The Early Withdrawal Penalty may be reduced by the GP in its sole discretion. Any amount paid as the Early Withdrawal Penalty shall be an asset of the Partnership. The Lock-Up Period will apply to the Class C Limited Partner’s initial investment, and any additional investment in the Partnership. Class A, Class B and Class D Limited Partners shall not be subject to the Lock-Up Period nor Early Withdrawal Penalty. In the event of a partial withdrawal, a Limited Partner must withdraw a minimum of $50,000 and shall maintain a minimum Capital Account balance, after giving effect to the withdrawal, of not less than $100,000. A Limited Partner failing to maintain the minimum Capital Account balance may be required to withdraw the balance of its Capital Account at any time without notice. The General Partner, in its sole discretion, may waive these minimum amounts.
Withdrawals of Limited Partners’ Capital Account a) Solely within the month of January of any calendar year (the remaining 11 months of any applicable calendar year to be the “Lock-Up Period”), a Limited Partner will be generally permitted to make withdrawals from its Capital Account as of the last business day of January of the applicable calendar year, or such other date as the GP may determine, in its sole discretion (each such date, a “Withdrawal Date”) subject to the provisions of this Section 4.01, by delivering to the GP a request in writing provided that the Partnership receives notice of such withdrawal not less than thirty (30) days prior to the applicable Withdrawal Date (unless such notice period is waived in whole or in part by the GP in its sole discretion with respect to one or more Limited Partners).
Withdrawals of Limited Partners’ Capital Account. (a) A Limited Partner will be generally permitted to make withdrawals from its Capital Account or convert all or a portion of the Interests held to Interests of a different Series. as of the last day of any calendar quarter, or such other date as the General Partner may determine in its discretion (each such date, a “Withdrawal Date”) subject to the provisions of this Section 4.01, by delivering to the General Partner a request in writing for withdrawal in the form of Appendix C to the Subscription Agreement, provided that, the Partnership receives at least 60 days’ written notice of such withdrawal prior to the applicable Withdrawal Date. For a Limited Partner wishing to convert its Interest from one Series to another, such Limited Partner may convert its whole Interest (only) by delivering to the General Partner a request in writing in the form of Appendix D to the Subscription Agreement, provided that, the Partnership receives at least 60 days’ written notice of such conversion prior to the end of a calendar year (and such conversion will generally be processed as of the beginning of the next calendar year). For the purposes of this Agreement, the amount converted in respect of a conversion of Interests from one Series to another shall be treated as a withdrawal of capital from the Capital Account established for the original Series and a capital contribution into a Capital Account designated for the new Series, as of the date of the applicable conversion. In the event of a partial withdrawal, a Limited Partner must withdraw a minimum of $10,000, and shall maintain a minimum Capital Account balance, after giving effect to the withdrawal, of not less than $100,000. The General Partner, in its sole discretion, may waive or alter these minimum amounts.
Withdrawals of Limited Partners’ Capital Account. Limited Partners may not voluntarily withdraw any capital from the Partnership. In certain circumstances, however, a Limited Partner may be required to withdraw from the Partnership if the General Partner reasonably determines, in its sole discretion, that such Limited Partner’s continued participation in the Partnership would result in a violation of the applicable laws or could otherwise be expected to have a material adverse effect on the Partnership and/or the General Partner.
