This document outlines the rights and remedies available to the General Partner in the event of a default by a Limited Partner in the partnership. It specifies the actions that can be taken against a Defaulting Partner, including limiting their voting rights, terminating their interest, reallocating their interest among non-defaulting partners, and enforcing penalties. The document also emphasizes that these remedies are cumulative and do not preclude the use of other remedies. It includes provisions for the allocation of income, profit, or gain in the event of a default and clarifies that the penalty provisions do not relieve the Defaulting Partner of their capital contribution obligations.
documents/vol00010-efta01364631-pdf.pdf
{"key_people":["General Partner","Defaulting Partner"],"document_type":"legal","document_subtype":"Limited Partnership Agreement","key_organizations":["Southern Financial LLC","Glendower Access Secondary Opportunities IV (U.S.), L.P."],"reference_numbers":["DB-SDNY-0055179","SDNY_GM_00201363","EFTA01364631"]}