Common use of Maintenance of Registry of Limited Partners and Persons Applying to Become Limited Partners Clause in Contracts

Maintenance of Registry of Limited Partners and Persons Applying to Become Limited Partners. Pursuant to the Limited Partnership Agreement for the Fund, all purchasers of Units who wish to become limited partners or record holders and receive cash distributions (if any) must deliver an executed transfer application in which the purchaser or transferee must certify that, among other things, he/she agrees to be bound by the Funds Limited Partnership Agreement and is eligible to purchase the Fund’s securities. Any transfer of Units will not be recorded by the transfer agent unless a completed transfer application is delivered to the General Partner or the Administrator. The Administrator shall keep a record of all transfer applications received, with each applicant deemed as a holder of record until the application is approved by the Fund. All applications will be forwarded by the Administrator to the General Partner to obtain its consent. Once such consent is obtained, the holder shall become Limited Partners. The Administrator shall maintain a registry of all Limited Partners and holders of record of the Fund.