The document discusses the lack of evidence supporting the claim that a 'tranche-by-tranche' approach is a trade usage in hedge fund practices. It references Delaware law and the Uniform Commercial Code regarding trade usage, and critiques the Fund's expert report for failing to establish this approach as a general practice. The document also contrasts different hedge fund approaches and cites legal opinions and documents to argue against the uniformity of the 'tranche-by-tranche' method.
documents/EFTA00587229.pdf
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