Common use of Limited Operations Mode Clause in Contracts

Limited Operations Mode. In the event the Limited Partners have a material dispute with General Partner, a Majority in Interest of the Limited Partners may cause the Fund and General Partner to enter into “Limited Operations Mode.” The period of Limited Operations Mode shall commence at the time that a Majority in Interest of the Limited Partners provide written notice to General Partner particularizing the facts constituting a material breach by General Partner of the terms of this Agreement and ending automatically on the date ninety (90) days later, which period may be extended by successive ninety (90) day periods if, and only if, the Majority in Interest of the Limited Partners provides written notice extending such period. During Limited Operations Mode General Partner and the Limited Partners will negotiate in good faith to resolve the dispute.

Limited Operations Mode. In the event the Limited Partners have a material dispute with General Partner, a Majority in Interest of the Limited Partners may cause the Fund and the General Partner to enter into “Limited Operations Mode.” The period of Limited Operations Mode shall commence at the time that a Majority in Interest of the Limited Partners provide written notice to General Partner particularizing the facts constituting a material breach by General Partner of the terms of this Agreement and ending automatically on the date ninety (90) days later, which period may be extended by successive ninety (90) day periods if, and only if, the Majority in Interest of the Limited Partners provides written notice extending such period. During Limited Operations Mode General Partner and the Limited Partners will negotiate in good faith to resolve the dispute.