Several Interest Election Clause Samples
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Several Interest Election. An election made by a Limited Partner, upon the written request thereof, pursuant to which, the General Partner may, in its sole discretion, treat the Units held by such Limited Partner as if they were held by more than one Limited Partner as expressly provided herein; provided, that the Limited Partner shall be a single Limited Partner for the purposes of the Act. Subscription Agreement: the Subscription Agreement entered into by the Limited Partners in connection with their purchase of Units in the Partnership.
Several Interest Election. If, and to the extent, agreed between the General Partner and a Limited Partner, the General Partner may, in its sole discretion, apply any or all of the provisions of this Agreement, including with respect to
(a) treatment as a Defaulting Limited Partner, (b) voting of an interest and (c) exercise of the General Partner’s exclusion right pursuant to Section 3.4.1 or a Partner’s excuse right pursuant to Section 3.4.2, with respect to such Limited Partner as if the Interest held by the Limited Partner were held by one or more separate Limited Partners that had each made a Capital Commitment directly to the Fund.