Common use of Distributions – General Principles Clause in Contracts

Distributions – General Principles. (a) Except as otherwise expressly provided in this Article III or in Article IX, no Partner shall have the right to withdraw capital from the Partnership or to receive any distribution or return of its Subscription. Distributions, if any, as and when declared by the Main Fund General Partner in its sole discretion, shall be made only to Persons who, according to the books and records of the Partnership, were the holders of record of Units on the date determined by the General Partner as of which the Partners are entitled to any such distributions. All distributions that the Partnership receives indirectly from the Main Fund (net of any Fund Expenses obligations as set forth in Section 6.3) will be distributed to the Partners. All distributions of cash shall be made to the Partners in amounts proportionate to the aggregate Net Asset Value of the Units held by the respective Partners on the applicable record date set by the General Partner, except that the amount distributed per Unit of any Class may differ from the amount per Unit of another Class on account of differences in Class-specific expense allocations.

Distributions – General Principles. (a) Except as otherwise expressly provided in this Article III or in Article IX, no Partner shall have the right to withdraw capital from the Partnership or to receive any distribution or return of its Subscription. Distributions, if any, as and when declared by the Main Fund General Partner in its sole discretion, shall be made only to Persons who, according to the books and records of the Partnership, were the holders of record of Units on the date determined by the General Partner as of which the Partners are entitled to any such distributions. All distributions that the Partnership receives indirectly from the Main Fund (net of any Fund Expenses obligations as set forth in Section 6.3) will be distributed to the Partners. All distributions of cash shall be made to the Partners in amounts proportionate to the aggregate Net Asset Value of the Units held by the respective Partners on the applicable record date set by the General Partner, except that the amount distributed per Unit of any Class class, or series of a class, may differ from the amount per Unit of another Class class, or series of a class, on account of differences in Classclass- or series-specific expense allocationsallocations or for other reasons as determined by the Main Fund General Partner.