Feeder definition
Examples of Feeder in a sentence
In addition, the General Partner may, in its sole discretion, apply Section 3.1, Section 7.7, Section 7.9 and Section 7.14, and any related provisions, to the Limited Partner interests of a Feeder Vehicle as if each investor in such Feeder Vehicle had made a Commitment directly to the Partnership rather than to such Feeder Vehicle.
Accordingly, in the event that the Feeder Vehicle could create a Partnership Regulatory Risk or has a Limited Partner Regulatory Problem because of the status of one or more of the Feeder Vehicle Limited Partners, the General Partner may pursue a Regulatory Sale, Regulatory Solution or withdrawal in accordance with the provisions of this Section 7.7 with respect to only the portion of the Feeder Vehicle’s interest in the Partnership that is attributable to such Feeder Vehicle Limited Partner(s).
For the avoidance of doubt, Carried Interest payable in respect of any Feeder Vehicle’s Limited Partner interest shall be calculated on the gross Investment Proceeds distributed (or deemed distributed) to a Feeder Vehicle, without deduction for any taxes or other expenses borne by such Feeder Vehicle or the applicable Feeder Vehicle Partner.
The General Partner may also form Feeder Vehicles for GSIM Investors and General Partner business associates or any of their respective affiliates or designees on such terms as the General Partner may determine in its sole discretion.
Any agreement with the Feeder Vehicle Limited Partner of a type that would not be a side letter or similar agreement for purposes of Section 13.8 if entered into with a Limited Partner shall similarly not be a side letter or similar agreement for purposes of Section 13.