Investors shall pay the First Drawdown upon subscription or on a subsequent date, as determined by the Management Company. Each Investor, by subscribing for Shares, irrevocably undertakes to respond to calls for funds by the Management Company within the limit of its Undrawn Commitment in the Fund without any set-off, counterclaims or defences of any kind. Any delay or default in payment may be penalised under the conditions provided for in Article 7.3. Any Drawdown called must be paid in full and in cash on the date indicated in the relevant Drawdown Notice by wire transfer on the Fund bank account opened with the Depositary.
