General Partner as Limited Partner. The General Partner shall also be a Limited Partner to the extent that it purchases or becomes a transferee of all or any part of the Interest of a Limited Partner, and to such extent, in its capacity as such, shall be treated as a Limited Partner in all respects, except as provided in the definition of “Majority (or other specified percentage) in Interest of the Private Investors.”
General Partner as Limited Partner. If the General Partner should acquire an interest as a limited partner, the General Partner shall, with respect to such interest, enjoy all the rights and be subject to all the obligations and duties of a limited partner to the extent of such interest.
General Partner as Limited Partner. The General Partner shall also be a Limited Partner to the extent that it holds Units, and to such extent shall be treated in all respects as a Limited Partner.
General Partner as Limited Partner. The General Partner may also be a Limited Partner to the extent the General Partner contributes capital, and the General Partner’s contribution is identified as that of a Limited Partner in the records of the Partnership. The General Partner has purchased its General Partner’s interest and its Limited Partner’s interest (if any) for cash and cash equivalency.
General Partner as Limited Partner. If the General Partner acquires or becomes a transferee of all or a part of the Partnership Interest of a Limited Partner, the General Partner, subject to the provisions of Article X, shall be treated also as a Limited Partner to the extent of such Partnership Interest.
General Partner as Limited Partner. The General Partner, or any affiliate of the General Partner, may at any time invest in or acquire Interests in the Partnership. With respect to Interests so acquired, the General Partner, or its affiliates, will acquire the same rights and obligations as other Limited Partners, however Interests owned by the General Partner will not be voted on removal of the General Partner, the election of a new General Partner, or any amendments to the Limited Partnership Agreement which would adversely affect the General Partner.
General Partner as Limited Partner. A General Partner may also be a Limited Partner, and in such event its rights, powers, restrictions and liabilities as a General Partner shall remain unaffected, and in addition it shall, in respect of its Capital Contributions as a Limited Partner, have all of the rights and powers and be subject to all of the restrictions and liabilities of a Limited Partner, except as otherwise specified herein.
General Partner as Limited Partner. The General Partner may also be a Limited Partner, including but not limited to the extent that it purchases Units, elects to receive all or a portion of the Performance Participation Allocation in Units, or becomes a transferee of all or any part of the Units of a Limited Partner, and to such extent shall be treated as a Limited Partner in all respects, except as provided below. Any Units held by Blackstone or an Affiliate of the Investment Manager or the General Partner may bear no or reduced Management Fees, Servicing Fees or the Performance Participation Allocation (in the manner each such Partner and the General Partner shall agree upon such Partner’s admission to the Partnership, including pursuant to a rebate of such amounts).
General Partner as Limited Partner. The General Partner shall also be a Limited Partner to the extent that it purchases or becomes a transferee of all or any portion of the Units of a Limited Partner, and to such extent shall be treated as a Limited Partner in all respects. Any Units of a Limited Partner that are held by the General Partner or any of its Affiliates (excluding any Interests of which CIM or any of its Affiliates or employees are not the ultimate beneficial owners) shall be deemed to have been voted, consented to, approved and/or abstained on any matter in the same manner and proportions as the aggregate Units of the other Limited Partners are voted, consented to, approved and/or abstained on such matter; provided that this sentence shall not apply to any Units held by the General Partner or its Affiliates in order to facilitate the participation in the Partnership by any unaffiliated investors (such as, for example, Feeder Limited Partners), and in such case, the General Partner or its Affiliate, as applicable, shall vote, consent to, approve and/or abstain in the manner directed by such unaffiliated investors. Notwithstanding anything herein to the contrary, the General Partner and its Affiliates (including investment professionals thereof) shall not be prevented from transferring all or a portion of their Units as a Limited Partner to any Person at any time so long as the effect of such transfer would not reduce their minimum aggregate investment in the Fund below the Maintenance CIM Investment.
General Partner as Limited Partner. The General Partner may also hold an interest in the Partnership as a Limited Partner.
