Section 5.6(a) of the contract outlines the conditions under which a Limited Partner can be excused from participating in a Portfolio Investment. It requires the Limited Partner to provide an opinion of counsel and other information to the Manager. The Manager can also excuse a Limited Partner if their participation is likely to have a Material Adverse Effect on the Fund. The affected Limited Partner must try to alleviate the circumstances causing the excuse. If excused, the Limited Partner will not receive distributions or reports related to the investment. The Manager has discretion to waive conditions and apply provisions to portions of a Feeder Fund's Interest. Section 5.6(b) discusses the effect of excusing a Limited Partner, allowing the Manager to decide whether to proceed with the investment without the Excused Partner.
documents/EFTA01452101.pdf
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