Examples of Subsequent Closing Partner in a sentence
Each Subsequent Closing Partner shall be treated as if it has been admitted, or as if the increase has been included in its Commitment, at the Initial Closing Date.
Any amount paid by a Subsequent Closing Partner pursuant to Section 3.1(c)(i)(A) or 3.1(c)(ii)(A) relating to an Investment shall be paid by the Partnership promptly following receipt thereof to the previously admitted Partners in proportion to their Capital Contributions with respect to such Investment, and the Partners’ Investment Percentages shall be appropriately adjusted.
Any amount paid by a Subsequent Closing Partner pursuant to Section 3.1(c)(i)(B) or 3.1(c)(ii)(B) relating to Partnership Expenses (other than Management Fees and Transaction Expenses) shall be paid by the Partnership promptly following receipt thereof to the previously admitted Partners in proportion to their Capital Commitments.
Any amount paid by a Subsequent Closing Partner pursuant to Section 3.1(c)(i)(C) or 3.1(c)(ii)(C) shall be paid by the Partnership promptly following receipt thereof to the Management Company.
To the extent that any Subsequent Closing Partner elects to become a Side Car Partner, such organizational expense shall be reallocated among all Side Car Partners and the amounts paid by such Subsequent Closing Partners will be returned to Side Car Partners admitted at any earlier Closing or applied as a credit against the next installment of Management Fees payable by such earlier admitted Side Car Partners.
The General Partner shall amend Schedule 1 (Partner Commitments) and books and records of the Fund to reflect the admission or increased Commitment of each Subsequent Closing Partner.
A Person shall be deemed admitted to the Fund as a Subsequent Closing Partner at the time that the foregoing conditions are satisfied and such Person is listed as a limited partner of the Fund on the Register.
Each Subsequent Closing Partner will be deemed admitted to the Fund or its increased Commitment deemed accepted at the time that the foregoing conditions are satisfied.
The Register shall be revised by the General Partner as appropriate to show the name of each Subsequent Closing Partner and the amount of its Capital Commitment.
The General Partner and/or one or more of the Affiliated Partners may increase, but not decrease, their respective Capital Commitments on or before the Final Admission Date as a Subsequent Closing Partner pursuant to Section 10.2.