Common use of Investment Commitment Clause in Contracts

Investment Commitment. 6.2.1 Each Partner shall be required to advance to the Partnership their Investment Commitment. Such Investment Commitment shall be advanced in such tranches as shall be determined by the Manager (on not less than 3 Business Days' notice). The General Partner shall draw down loans from the Partners pro rata to their respective Investment Funding Percentages from time to time. Each Partner holding an Investment Commitment shall be required to re-advance such Investment Commitment if the Partnership is itself required to advance or re- advance monies to ▇▇▇▇▇▇▇▇▇ Capital Partners Europe pursuant to the provisions of the ▇▇▇▇▇▇▇▇▇ Capital Partners Europe Partnership Agreements. Each Partner making an Investment Commitment to the Partnership shall have an account (an "Investment Commitment Account") in relation to each Investment in respect of which a draw down of Investment Commitment is made to which their respective Investment Commitment in respect of such Investment shall be debited. 6.2.2 In the event that a Partner fails to advance to the Partnership the amount which is the subject of a draw down notice issued pursuant to Clause 6.2.1 on or before the expiry of such drawdown notice, then such Partner shall be required to remedy such default and to pay interest to the Partnership on the amount outstanding for the period from the date of expiry of the drawdown notice up to the date of payment thereof at the rate of 10% per annum, on or before the expiry of 30 days' notice from the General Partner requiring the Partner so to do. 6.2.3 Loans advanced to the Partnership in respect of the Investment Commitment shall not carry interest.