Examples of Subsequent Closing Partner in a sentence
Each Subsequent Closing Partner shall be treated as if it has been admitted, or as if the increase has been included in its Commitment, at the Initial Closing Date.
The General Partner shall amend Schedule 1 (Partner Commitments) and books and records of the Fund to reflect the admission or increased Commitment of each Subsequent Closing Partner.
For the avoidance of doubt, with respect to any Subsequent Closing Partner, its Preferred Return shall be calculated from the date as if it had been admitted at the Initial Closing Date.
Additional Payments contributed by a Subsequent Closing Partner shall not be treated as Capital Contributions and shall not reduce such Subsequent Closing Partner’s Remaining Commitment.
Any amount paid by a Subsequent Closing Partner pursuant to Section 3.1(c)(i)(C) or 3.1(c)(ii)(C) shall be paid by the Partnership promptly following receipt thereof to the Management Company.
To the extent that any Subsequent Closing Partner elects to become a Side Car Partner, such organizational expense shall be reallocated among all Side Car Partners and the amounts paid by such Subsequent Closing Partners will be returned to Side Car Partners admitted at any earlier Closing or applied as a credit against the next installment of Management Fees payable by such earlier admitted Side Car Partners.
Any amount paid by a Subsequent Closing Partner pursuant to Section 3.1(c)(i)(B) or 3.1(c)(ii)(B) relating to Partnership Expenses (other than Management Fees and Transaction Expenses) shall be paid by the Partnership promptly following receipt thereof to the previously admitted Partners in proportion to their Capital Commitments.
Additional Payments contributed by a Subsequent Closing Partner shall not be treated as Capital Contributions.
The General Partner and/or one or more of the Affiliated Partners may increase, but not decrease, their respective Capital Commitments on or before the Final Admission Date as a Subsequent Closing Partner pursuant to Section 10.2.
Each Subsequent Closing Partner shallwill be deemed admitted to the Fund or its increased Commitment deemed accepted at the time that the foregoing conditions are satisfied.