📄 Extracted Text (426 words)
GLDUS131 Bright Group
Proprietary and Confidential
(5) Cause the compulsory Transfer without compensation of up to one hundred
percent (100%) of the Defaulting Partner's Interest and its unpaid Subscription
to any third party on such terms and conditions as the Investment Manager
and/or General Partner deem appropriate;
(6) Cause the Defaulting Partner not to share in any income or gain realized by the
Partnership while continuing to be responsible for its Percentage Interest of
losses and Partnership Expenses;
(7) Reduce the unpaid Subscription of the Defaulting Partner to zero or such other
amount as the General Partner may determine in its sole discretion;
(8) Force the Defaulting Partner to sell its interest in the Partnership, with the full
assumption by the buyer of the Defaulting Partner's Subscription, including
any portion then due and unpaid;
(9) Accept a late contribution from the Defaulting Partner, with interest (unless
such interest is otherwise waived by the General Partner), in satisfaction of its
then outstanding obligation to contribute hereunder, provided that such
Limited Partner shall remain a Defaulting Partner until the next full calendar
quarter following such contribution and applicable interest;
(10) Cause the entire unpaid Subscription of the Defaulting Partner and any
amounts required to be contributed to the Partnership by such Defaulting
Partner related to reimbursement of Partnership Expenses or any current or
future Management Fees to be assessed to such Limited Partner to become
immediately due and payable;
Cause any distributions which would otherwise be made to the Defaulting
Partner to be applied against any amounts due and payable from the Defaulting
Partner;
Accept from a Defaulting Partner an abandonment of such Defaulting Partner's
interest in the Partnership, including without limitation, such Partner's
Contribution, Capital Account and Subscription;
Withhold any distributions that otherwise would be made to a Defaulting
Partner until such time as the Partnership makes its final liquidating
distribution, or until such earlier time as the General Partner may determine.
Any distributions so withheld, or the proceeds thereof, may be used by the
Partnership for any purpose;
(14) Pursue and enforce all of the Partnership's other rights and remedies against
the Defaulting Partner under this Agreement, the relevant subscription
agreement and Delaware law, including but not limited to the commencement
of a lawsuit to collect the unpaid capital contribution, interest and costs, and
reimbursement (with interest at the Default Rate) of any other damages
suffered by the Partnership;
Glendower Accetec Secondary Opportunities IV (U.S.). L.P. 18
Amended and Ratided limited Partnership Agreanenl
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0099174
CONFIDENTIAL SDNY_GM_00245358
EFTA01393556
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EFTA01393556
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