Parallel Funds. The Manager may, in its discretion and to the extent permitted by applicable law, create or sponsor partnerships or other vehicles that will be formed for participating pro rata and pari passu in the portfolio companies of the Company (“Parallel Fund”). The Parallel Fund may consist of certain investors who for a variety of reasons may not wish to participate in the investments through the Company. Any costs associated with the formation and administration of a Parallel Fund will be paid by the investors in the Parallel Fund. It is the intention of the Manager that the Manager of the Company will also act as the Manager of the Parallel Fund; provided, however, if such an arrangement were to become prohibited under the terms of this Agreement, a separate Manager would be appointed. The Parallel Fund will likely contain economic terms, rights, restrictions and obligations for its investors that are completely different to those applicable to Investors in the Company.
Appears in 3 contracts
Sources: Operating Agreement (Own Our Own Fund I, LLC), Operating Agreement (Own Our Own Fund I, LLC), Operating Agreement (Own Our Own Fund I, LLC)
Parallel Funds. The Manager may, in its discretion and to the extent permitted by applicable law, create or sponsor partnerships or other vehicles that will be formed for participating pro rata and pari passu in the portfolio companies of the Company (“Parallel Fund”). The Parallel Fund may consist of certain investors who for a variety of reasons may not wish to participate in the investments through the Company. Any costs associated with the formation and administration of a Parallel Fund will be paid by the investors in the Parallel Fund. It is the intention of the Manager that the Manager of the Company will also act as the Manager of the Parallel Fund; provided, however, if such an arrangement were to become prohibited under the terms of this Agreement, a separate Manager would be appointed. The Parallel Fund will likely contain economic terms, rights, restrictions and obligations for its investors that are completely different to those applicable to Investors in the Company.. Gratus Capital Properties Fund III LLC 19 Amended & Restated Operating Agreement
Appears in 2 contracts
Sources: Operating Agreement (Gratus Capital Properties Fund III LLC), Operating Agreement (Gratus Capital Properties Fund III LLC)