Drawdown Purchases definition

Drawdown Purchases means the capital contributions made to the Fund to purchase Common Units pursuant to Section 5.2 from time to time by the Common Unitholders pursuant to a Drawdown Notice.

Drawdown Purchases means the capital contributions made to the Fund to purchase Common Units pursuant to Section 5.2 from time to time by the Common Unitholders pursuant to a Drawdown Notice. “Drawdown Unit Amount” shall have the meaning set forth in Section 5.2. “Electronic Signature” shall have the meaning set forth in Section 13.2. “ERISA” shall mean the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time. “Event of Dissolution” shall have the meaning set forth in Section 11.1. “Excess Organizational and Offering Expenses” shall mean the amount of Organizational and Offering Expenses (other than Placement Fees, except any fees and expenses and any interest on deferred fees charged by any locally licensed intermediary or distributor that the Fund, the Adviser or an Affiliate thereof is required to engage in order to offer Units in particular jurisdictions) in excess of, at the end of the Closing Period, the lesser of: (i) $2.0 million or (ii) 0.25% of the Aggregate Committed Capital. “Excess Specified Expenses” shall mean the amount of Specified Expenses payable by the Fund for any calendar year in excess of the Specified Expenses Cap (giving effect to the adjustment in the last sentence of the definition of Specified Expenses Cap in the calendar year in which the Closing Period ends). “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. “Excluded Investor” shall have the meaning set forth in Section 5.4. “Executive Advisory Council” shall have the meaning set forth in Section 2.8(a). “FATCA” shall mean Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreements, treaties or conventions entered into in connection with the implementation of such Sections, and any laws, rules, guidance notes and practices adopted by a non-U.S. jurisdiction to effect any such intergovernmental agreement or any similar provisions of non-U.S. law (including, for the avoidance of doubt, any law that implements any such agreement or that implements the Organization for Economic Co-operation and Development’s Common Reporting Standard). “Fiscal Year” shall mean the fiscal year of the Fund, as determined pursuant to Section 1.5. “Follow-On Investment” shall mean an investme...

Examples of Drawdown Purchases in a sentence

• Except as otherwise provided herein, each Member shall make Drawdown Purchases in an aggregate amount not to exceed its Capital Commitment, as set forth in such Common Unitholder’s Subscription Agreement.

• Following the termination of the Investment Period (and during any Key Person Suspension Period), no Portfolio Investments will be made by the Fund (and no Drawdown Purchases shall be required therefor) other than (i) Follow-Up Investments and (ii) Follow-On Investments that are not Follow-Up Investments in an aggregate amount (net of amounts returned) of up to 15% of the aggregate Capital Commitments.

• Drawdown Purchases will generally be made pro rata, in accordance with unfunded Capital Commitments of all investors, unless otherwise determined by the Adviser (including as the Adviser determines necessary or desirable in order to comply with any applicable legal, regulatory, tax or similar regimes).

• Following the termination of the Investment Period (and during any Key Person Suspension Period), no Portfolio Investments will be made by the Fund (and no Drawdown Purchases shall be required therefor) other than, within three months following the end of the Investment Period, (i) Follow-Up Investments and (ii) Follow-On Investments that are not Follow-Up Investments in an aggregate amount (net of amounts returned) of up to 15% of the aggregate Capital Commitments.

• Investors that make a Capital Commitment prior to any Subsequent Closing will not be required to fund Drawdown Purchases on a Drawdown Date until all Subsequent Investors have made their entire Catch-Up Purchase.

• The obligation of the Subscriber to make Drawdown Purchases is unconditional and, to the fullest extent permitted by applicable law, shall not be affected by any bankruptcy of the Company.

• Furthermore, certain Drawdown Purchases may be made on a non-pro rata basis by Members that provide Commitments after the Initial Closing.

• Investors that make a Capital Commitment prior to any Subsequent Closing will not be required to fund Drawdown Purchases (as defined below) on a Drawdown Date (as defined below) until all Subsequent Investors have made their entire Catch-up Purchase.

• Drawdown Purchases will generally be made pro rata, in accordance with Undrawn Commitments of all Members.

• Investors that make a Capital Commitment prior to any Subsequent Closing will not be required to fund Drawdown Purchases on a Drawdown Date until all Subsequent Investors have made their entire Catch-up Purchase.