Common use of Initial Offering Period Clause in Contracts

Initial Offering Period. (a) The period beginning on February 2, 2004, and ending on November 2, 2004, is referred to herein as the “Initial Offering Period”. All Subscription Agreements entered into prior to the end of the Initial Offering Period shall provide for the issuance of Units at the Initial Offering Price; provided that any such Subscription Agreement may, in the discretion of the Managing General Partner, provide for the issuance of Units at a price different from the Initial Offering Price in any Subscription Agreement entered into after the date of this Agreement if, in the reasonable determination of the Managing General Partner in its sole discretion, such different price is appropriate based on any appreciation or depreciation of any Investments from the date of this Agreement to the effective date of such Subscription Agreement; provided further that no Subscription Agreement entered into during the Initial Offering Period shall provide for the issuance of Units at a price per Unit less than the Initial Offering Price without the consent of the Partners holding Units immediately prior to the effective date of such Subscription Agreement by a Super Majority Partner Vote.

Initial Offering Period. (a) The period beginning on February 2, 2004, and ending on November 2, 2004, is referred to herein as the “"Initial Offering Period”". All Subscription Agreements entered into prior to the end of the Initial Offering Period shall provide for the issuance of Units at the Initial Offering Price; provided that any such Subscription Agreement may, in the discretion of the Managing General Partner, provide for the issuance of Units at a price different from the Initial Offering Price in any Subscription Agreement entered into after the date of this Agreement if, in the reasonable determination of the Managing General Partner in its sole discretion, such different price is appropriate based on any appreciation or depreciation of any Investments from the date of this Agreement to the effective date of such Subscription Agreement; provided further that no Subscription Agreement entered into during the Initial Offering Period shall provide for the issuance of Units at a price per Unit less than the Initial Offering Price without the consent of the Partners holding Units immediately prior to the effective date of such Subscription Agreement by a Super Majority Partner Vote.

Initial Offering Period. (a) The period beginning on February 2, 2004, and ending on November 2, 2004, is referred to herein as the “"Initial Offering Period”". All Subscription Agreements entered into prior to the end of the Initial Offering Period shall provide for the issuance of Units at the Initial Offering Price; provided that any such Subscription Agreement may, in the discretion of the Managing General Partner, provide for the issuance of Units at a price different from the Initial Offering Price in any Subscription Agreement entered into after the date of this Agreement if, in the reasonable determination of the Managing General Partner in its sole discretion, such different price is appropriate based on any appreciation or depreciation of any Investments from the date of this Agreement to the effective date of such Subscription Agreement; provided further that no Subscription Agreement entered into during the Initial Offering Period shall provide for the issuance of Units at a price per Unit less than the Initial Offering Price without the consent of the Partners holding Units immediately prior to the effective date of such Subscription Agreement by a Super Majority Partner Vote.