Sub-Distributors. TCG may enter into sub-distributor’s agreements with persons (“Sub-Distributors”) pursuant to which TCG delegates any or all of its functions hereunder to one or more Sub-Distributors provided that a majority of the Fund’s Board of Trustees that are not interested persons of the Fund or TCG approve the agreement. TCG shall pay all compensation of any such Sub-Distributors and will have the right to terminate the services of any Sub-Distributor at any time on no more than sixty (60) days’ notice. For the avoidance of doubt, broker dealers with whom TCG has entered into dealer or similar agreements will not be considered Sub-Distributors hereunder.
Appears in 3 contracts
Sources: Principal Underwriter Agreement (Carlyle AlpInvest Private Markets Secondaries Fund), Principal Underwriter Agreement (Carlyle AlpInvest Private Markets Fund), Principal Underwriter Agreement (Carlyle AlpInvest Private Markets Fund)