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###Human: Determine if the accounting term Fund Expenses from description Standard fund expense provision. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Expenses from description Standard fund expense provision. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Audit from description Yes. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Audit from description Yes. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Allocation of Profits and Losses from description 80% of cumulative net income will be allocated to all Partners (General and Limited) in proportion to their capital commitment percentages and an aggregate of 20% of cumulative net income will be allocated to the General Partner. Cumulative net losses (i.e., the excess of cumulative losses over cumulative income) will be allocated to the Partners (General and Limited) in proportion to their capital commitment percentages. To the extent that the allocation to the General Partner of a disproportionate share of the Fund’s net losses would exceed the amount of net income previously allocated disproportionately to the General Partner, such net losses instead will be allocated to the Limited Partners (“Contingent Loss”). Such Contingent Loss shall be restored to the extent of future net income that would otherwise be disproportionately allocated to the General Partner. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Allocation of Profits and Losses from description 80% of cumulative net income will be allocated to all Partners (General and Limited) in proportion to their capital commitment percentages and an aggregate of 20% of cumulative net income will be allocated to the General Partner. Cumulative net losses (i.e., the excess of cumulative losses over cumulative income) will be allocated to the Partners (General and Limited) in proportion to their capital commitment percentages. To the extent that the allocation to the General Partner of a disproportionate share of the Fund’s net losses would exceed the amount of net income previously allocated disproportionately to the General Partner, such net losses instead will be allocated to the Limited Partners (“Contingent Loss”). Such Contingent Loss shall be restored to the extent of future net income that would otherwise be disproportionately allocated to the General Partner. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Reports from description Limited Partners will receive within 90 days following the end of each year audited financial statements of the Fund. Summary financial information will be provided within 45 days of the close of each of the first three quarters of each calendar year. In addition, each Limited Partner will be provided annually with an IRS Schedule K-1 for the completion of federal income tax returns. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description Limited Partners will receive within 90 days following the end of each year audited financial statements of the Fund. Summary financial information will be provided within 45 days of the close of each of the first three quarters of each calendar year. In addition, each Limited Partner will be provided annually with an IRS Schedule K-1 for the completion of federal income tax returns. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description Fund is a series LLC managed by Assure FUnd Management II. Organizer is Companyon Ventures Management LLC. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description Fund is a series LLC managed by Assure FUnd Management II. Organizer is Companyon Ventures Management LLC. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description Delaware limited partnership with a Delware LLC as the General Partner is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description Delaware limited partnership with a Delware LLC as the General Partner is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term GP Commitment from description Subject to Section 5.19(a)(iii), the General Partner, its Affiliates and any GP Related Person (in their capacity as Limited Partners) may make a Capital Commitment (the “Sponsor Commitment”) on or prior to the Final Closing Date. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term GP Commitment from description Subject to Section 5.19(a)(iii), the General Partner, its Affiliates and any GP Related Person (in their capacity as Limited Partners) may make a Capital Commitment (the “Sponsor Commitment”) on or prior to the Final Closing Date. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description (i) General. From the date of the Initial Closing throughout the remaining Term of the Partnership, the Partnership shall pay to the Management Company or its designee a quarterly fee (the “Management Fee”) The Management Fee shall be: (x) payable quarterly in advance, on the first day of each fiscal quarter of the Partnership (the “Management Fee Due Date”); and (y) pro- rated on a daily basis (payable immediately) at any time that there is an increase in a Limited Partner’s Capital Commitment; provided, however, that the portion of the Management Fee with respect to the period beginning on the Initial Closing and ending on the last day of the fiscal quarter in which the Initial Closing occurs shall be payable on the date of the Initial Closing. (ii) Management Fee Rate. (A) Except as otherwise agreed to in writing with the General Partner, subject to Section 5.8(c)(ii)(B), the Management Fee for each of the Partnership’s Fiscal Years (or portions thereof) shall be an annualized amo is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description (i) General. From the date of the Initial Closing throughout the remaining Term of the Partnership, the Partnership shall pay to the Management Company or its designee a quarterly fee (the “Management Fee”) The Management Fee shall be: (x) payable quarterly in advance, on the first day of each fiscal quarter of the Partnership (the “Management Fee Due Date”); and (y) pro- rated on a daily basis (payable immediately) at any time that there is an increase in a Limited Partner’s Capital Commitment; provided, however, that the portion of the Management Fee with respect to the period beginning on the Initial Closing and ending on the last day of the fiscal quarter in which the Initial Closing occurs shall be payable on the date of the Initial Closing. (ii) Management Fee Rate. (A) Except as otherwise agreed to in writing with the General Partner, subject to Section 5.8(c)(ii)(B), the Management Fee for each of the Partnership’s Fiscal Years (or portions thereof) shall be an annualized amo is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset from description If any GP Related Person receives Fees Subject to Offset, Management Fees subsequently payable by the Partnership to the Management Company shall be reduced with respect to each Limited Partner in proportion to its respective Capital Commitment by an aggregate amount equal to 100% of such Fees Subject to Offset (the “Management Fee Offset”). "Fees Subject to Offset" = any fees paid by the Partnership to a placement agent and any transaction, commitment, break-up, advisory, syndication, guarantee, directors, officers, management and other fees paid by a Portfolio Company or prospective Portfolio Company as well as fees paid by third parties for facilitating transactions in Portfolio Securities that, in each case, would not, if earned directly by the Partnership, cause the Partnership to cease to qualify as an “investment partnership” within the meaning of Section 731(c)(3)(C) of the Internal Revenue Code, but in any event excluding any amounts applied to cover or reimburse any unreimbu is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset from description If any GP Related Person receives Fees Subject to Offset, Management Fees subsequently payable by the Partnership to the Management Company shall be reduced with respect to each Limited Partner in proportion to its respective Capital Commitment by an aggregate amount equal to 100% of such Fees Subject to Offset (the “Management Fee Offset”). "Fees Subject to Offset" = any fees paid by the Partnership to a placement agent and any transaction, commitment, break-up, advisory, syndication, guarantee, directors, officers, management and other fees paid by a Portfolio Company or prospective Portfolio Company as well as fees paid by third parties for facilitating transactions in Portfolio Securities that, in each case, would not, if earned directly by the Partnership, cause the Partnership to cease to qualify as an “investment partnership” within the meaning of Section 731(c)(3)(C) of the Internal Revenue Code, but in any event excluding any amounts applied to cover or reimburse any unreimbu is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period from description the period beginning with the Initial Closing and continuing through the earlier of (a) the Close of Business at the fourth anniversary of the date of the Initial Closing; (b) the date on which the General Partner terminates the Investment Period by written notice to the Limited Partners; and (c) the date on which the Investment Period otherwise expires or terminates in accordance with the Agreement. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period from description the period beginning with the Initial Closing and continuing through the earlier of (a) the Close of Business at the fourth anniversary of the date of the Initial Closing; (b) the date on which the General Partner terminates the Investment Period by written notice to the Limited Partners; and (c) the date on which the Investment Period otherwise expires or terminates in accordance with the Agreement. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description The “Term” of the Partnership shall commence at the time of the Initial Closing and shall continue until the Close of Business on the 10th anniversary of the Initial Closing; provided, however, that the General Partner may, in its sole discretion, extend the Term of the Partnership for up to two consecutive one-year periods and thereafter for additional one-year periods with the consent of either the LPAC or a Majority-In-Interest of the Limited Partners. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description The “Term” of the Partnership shall commence at the time of the Initial Closing and shall continue until the Close of Business on the 10th anniversary of the Initial Closing; provided, however, that the General Partner may, in its sole discretion, extend the Term of the Partnership for up to two consecutive one-year periods and thereafter for additional one-year periods with the consent of either the LPAC or a Majority-In-Interest of the Limited Partners. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital from description Unless approved by LPAC or LP consent, the Fund cannot invest, over its entire term, in Portfolio Securities with an aggregate Cost Basis in excess of 115% of the aggregate Capital Commitments of the Partners. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital from description Unless approved by LPAC or LP consent, the Fund cannot invest, over its entire term, in Portfolio Securities with an aggregate Cost Basis in excess of 115% of the aggregate Capital Commitments of the Partners. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Capital Contributions from description Each Limited Partner, upon admission to the Partnership, shall be deemed to have made a Capital Commitment equal to the amount specified in its Subscription Agreement and accepted by the General Partner on behalf of the Partnership. Subject to Section 5.19(a)(iii), the General Partner, its Affiliates and any GP Related Person (in their capacity as Limited Partners) may make a Capital Commitment (the “Sponsor Commitment”) on or prior to the Final Closing Date. Except as specifically provided in this Agreement, the Capital Commitment of a Partner shall represent the maximum aggregate amount of cash and property that such Partner shall be required to contribute to the capital of the Partnership. Each Partner shall contribute 25% of its Capital Commitment upon its admittance to the Partnership. Except to the extent provided in Sections 2.7, 4.5 or 7.3 or in respect of in-kind contributions, as otherwise approved by the General Partner, all capital contributions shall be in cash, pro rata is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Capital Contributions from description Each Limited Partner, upon admission to the Partnership, shall be deemed to have made a Capital Commitment equal to the amount specified in its Subscription Agreement and accepted by the General Partner on behalf of the Partnership. Subject to Section 5.19(a)(iii), the General Partner, its Affiliates and any GP Related Person (in their capacity as Limited Partners) may make a Capital Commitment (the “Sponsor Commitment”) on or prior to the Final Closing Date. Except as specifically provided in this Agreement, the Capital Commitment of a Partner shall represent the maximum aggregate amount of cash and property that such Partner shall be required to contribute to the capital of the Partnership. Each Partner shall contribute 25% of its Capital Commitment upon its admittance to the Partnership. Except to the extent provided in Sections 2.7, 4.5 or 7.3 or in respect of in-kind contributions, as otherwise approved by the General Partner, all capital contributions shall be in cash, pro rata is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions Waterfall from description (i) With respect to any specific distribution pursuant to this Section 4.1(b), the items of cash or in-kind Securities comprising such distribution shall be notionally apportioned among the Partners (including the General Partner in its capacity as a Partner, and the amount so apportioned to the General Partner shall be distributed to the General Partner) in proportion to their respective Sharing Percentages with respect to the applicable Portfolio Company or Short-Term Investment or, in all other cases, in proportion to their respective aggregate Capital Contributions. After such apportionment, on a separate basis for each Limited Partner, the amount apportioned to such Limited Partner (the “Preliminary Apportionment”) shall be distributed as follows: (A) First, 100% to such Limited Partner until such Limited Partner has received distributions in cash and/or in-kind Securities pursuant to this Section 4.1(b)(i)(A), in the aggregate over the Term of the Partnership, at least equal to is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":true}
###Human: Determine if the accounting term Distributions Waterfall from description (i) With respect to any specific distribution pursuant to this Section 4.1(b), the items of cash or in-kind Securities comprising such distribution shall be notionally apportioned among the Partners (including the General Partner in its capacity as a Partner, and the amount so apportioned to the General Partner shall be distributed to the General Partner) in proportion to their respective Sharing Percentages with respect to the applicable Portfolio Company or Short-Term Investment or, in all other cases, in proportion to their respective aggregate Capital Contributions. After such apportionment, on a separate basis for each Limited Partner, the amount apportioned to such Limited Partner (the “Preliminary Apportionment”) shall be distributed as follows: (A) First, 100% to such Limited Partner until such Limited Partner has received distributions in cash and/or in-kind Securities pursuant to this Section 4.1(b)(i)(A), in the aggregate over the Term of the Partnership, at least equal to is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":true}
###Human: Determine if the accounting term Borrowing from description The General Partner may, in its sole discretion, cause the Partnership to (a) borrow money or otherwise incur indebtedness, or (b) make guarantees and grant security interests in and lien on and otherwise encumber its assets (including, without limitation, Unpaid Capital Commitments) for the purpose of funding investments in Portfolio Companies or for providing credit support to a Portfolio Company; provided that, outstanding borrowings by the Partnership shall not exceed, in the aggregate at the time such indebtedness is incurred, 15% of the aggregate Capital Commitments of the Partners. Solely for purposes of the preceding sentence, the amount of any third-party indebtedness guaranteed by the Partnership (including, for the avoidance of doubt, credit support to a Portfolio Company or any vehicle formed to effect the acquisition thereof) shall be treated as indebtedness of the Partnership. The Partnership shall further limit its borrowings to the extent required under Section 5.18. At is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Borrowing from description The General Partner may, in its sole discretion, cause the Partnership to (a) borrow money or otherwise incur indebtedness, or (b) make guarantees and grant security interests in and lien on and otherwise encumber its assets (including, without limitation, Unpaid Capital Commitments) for the purpose of funding investments in Portfolio Companies or for providing credit support to a Portfolio Company; provided that, outstanding borrowings by the Partnership shall not exceed, in the aggregate at the time such indebtedness is incurred, 15% of the aggregate Capital Commitments of the Partners. Solely for purposes of the preceding sentence, the amount of any third-party indebtedness guaranteed by the Partnership (including, for the avoidance of doubt, credit support to a Portfolio Company or any vehicle formed to effect the acquisition thereof) shall be treated as indebtedness of the Partnership. The Partnership shall further limit its borrowings to the extent required under Section 5.18. At is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Closings from description The General Partner may hold an Initial Closing of the Partnership and commence admitting Limited Partners upon its acceptance and approval of Subscription Agreements from Limited Partners evidencing aggregate Capital Commitments of at least $10 million. Thereafter, the General Partner may admit Additional Limited Partners or accept increases in the Capital Commitments of existing Partners, on the same terms as applied at the Initial Closing (subject to Sections 2.2(d) and 3.1(c), and provided that this Section 2.1(b) will not limit the ability of the Partnership or the General Partner to enter into side letters or similar agreements in accordance with Section 9.3), at one or more additional closings held not later than the Close of Business on the date that is 12 months after the Initial Closing (that the date on which the Partnership’s final closing occurs, the “Final Closing Date”). Notwithstanding any of the foregoing to the contrary, with the consent of a Majority-In-Interest of is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Closings from description The General Partner may hold an Initial Closing of the Partnership and commence admitting Limited Partners upon its acceptance and approval of Subscription Agreements from Limited Partners evidencing aggregate Capital Commitments of at least $10 million. Thereafter, the General Partner may admit Additional Limited Partners or accept increases in the Capital Commitments of existing Partners, on the same terms as applied at the Initial Closing (subject to Sections 2.2(d) and 3.1(c), and provided that this Section 2.1(b) will not limit the ability of the Partnership or the General Partner to enter into side letters or similar agreements in accordance with Section 9.3), at one or more additional closings held not later than the Close of Business on the date that is 12 months after the Initial Closing (that the date on which the Partnership’s final closing occurs, the “Final Closing Date”). Notwithstanding any of the foregoing to the contrary, with the consent of a Majority-In-Interest of is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Late Charge from description Within 10 business days after an Additional Limited Partner is admitted to the Partnership, such Additional Limited Partner shall pay to the Partnership a “Late Admission Charge” equal to interest on its Additional Amount at the Prime Rate (determined as of the Close of Business on the date of such Additional Limited Partner’s admission), compounded daily, from the date(s) that such Additional Limited Partner would have been required to contribute the component portions of such Additional Amount if such Additional Limited Partner had been admitted at the Initial Closing; provided that, the General Partner may waive the Late Admission Charge payable by an Additional Limited Partner in the General Partner’s sole discretion. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Late Charge from description Within 10 business days after an Additional Limited Partner is admitted to the Partnership, such Additional Limited Partner shall pay to the Partnership a “Late Admission Charge” equal to interest on its Additional Amount at the Prime Rate (determined as of the Close of Business on the date of such Additional Limited Partner’s admission), compounded daily, from the date(s) that such Additional Limited Partner would have been required to contribute the component portions of such Additional Amount if such Additional Limited Partner had been admitted at the Initial Closing; provided that, the General Partner may waive the Late Admission Charge payable by an Additional Limited Partner in the General Partner’s sole discretion. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term In-Kind Distributions from description (a) Distributions may be made in cash or in-kind, as determined in the sole discretion of the General Partner. By notice to the General Partner, a Limited Partner may make an election regarding any or all non-cash distributions to such Limited Partner pursuant to this Agreement (an “In-Kind Distribution Election”). An In-Kind Distribution Election shall specify in reasonable detail acceptable to the General Partner the specific type, class or identity of non-cash assets to which such In-Kind Distribution Election relates and may include the additional election described in Section 4.4(c). An In-Kind Distribution Election may be revoked by the applicable Limited Partner, in whole or in part, at any time upon the General Partner’s actual receipt of notice to such effect; provided, however, that, except as otherwise approved by the General Partner in its sole and absolute discretion, an In-Kind Distribution Election shall not be revoked with respect to assets that have been delivered to a is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term In-Kind Distributions from description (a) Distributions may be made in cash or in-kind, as determined in the sole discretion of the General Partner. By notice to the General Partner, a Limited Partner may make an election regarding any or all non-cash distributions to such Limited Partner pursuant to this Agreement (an “In-Kind Distribution Election”). An In-Kind Distribution Election shall specify in reasonable detail acceptable to the General Partner the specific type, class or identity of non-cash assets to which such In-Kind Distribution Election relates and may include the additional election described in Section 4.4(c). An In-Kind Distribution Election may be revoked by the applicable Limited Partner, in whole or in part, at any time upon the General Partner’s actual receipt of notice to such effect; provided, however, that, except as otherwise approved by the General Partner in its sole and absolute discretion, an In-Kind Distribution Election shall not be revoked with respect to assets that have been delivered to a is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term General Partner Clawback from description (i) The obligations of the General Partner pursuant to this Section 7.3(e) will be calculated separately for each Limited Partner. (ii) If after giving effect to all contributions, distributions and allocations as of the completion of winding up of the Partnership (the “Determination Date”), the General Partner has received Carried Interest Distributions in respect of any Limited Partner as of the applicable Determination Date exceed 20% of (1) the sum of (x) the aggregate amount distributed to such Limited Partner pursuant to Section 4.1(b)(i), and (y) the aggregate amount of Carried Interest Distributions distributed to the General Partner with respect to such Limited Partner over (2) the aggregate Capital Contributions of such Limited Partner, then the General Partner will contribute to the Partnership, and the Partnership will, subject to the Act, distribute to such Limited Partner, an amount out of the amounts received by the General Partner as Carried Interest Distributions equa is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term General Partner Clawback from description (i) The obligations of the General Partner pursuant to this Section 7.3(e) will be calculated separately for each Limited Partner. (ii) If after giving effect to all contributions, distributions and allocations as of the completion of winding up of the Partnership (the “Determination Date”), the General Partner has received Carried Interest Distributions in respect of any Limited Partner as of the applicable Determination Date exceed 20% of (1) the sum of (x) the aggregate amount distributed to such Limited Partner pursuant to Section 4.1(b)(i), and (y) the aggregate amount of Carried Interest Distributions distributed to the General Partner with respect to such Limited Partner over (2) the aggregate Capital Contributions of such Limited Partner, then the General Partner will contribute to the Partnership, and the Partnership will, subject to the Act, distribute to such Limited Partner, an amount out of the amounts received by the General Partner as Carried Interest Distributions equa is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term LP Clawback from description Without regard to Section 4.5(a), at any time prior to the Termination of the Partnership, the General Partner may, upon not less than 10 days’ notice, in its sole discretion, require that the Partners return to the Partnership (in proportion to their respective shares of the distributions at issue, and inversely to the order of distributions made pursuant to Section 4.1) all or any portion of the distributions made to the Partners (including any distribution made to the General Partner under Section 4.1(b)(i)(B)) and not previously returned for the purpose of meeting such Partner’s share of (x) indemnification obligations arising under Section 8.2, or (y) any other liabilities of the Partnership, including the extent incurred in connection with indemnity, purchase price adjustment, tax or other obligations in connection with an investment, whether such obligations arise before or after the last day of the term of the Partnership, or with respect to any Partner, before or after such Pa is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term LP Clawback from description Without regard to Section 4.5(a), at any time prior to the Termination of the Partnership, the General Partner may, upon not less than 10 days’ notice, in its sole discretion, require that the Partners return to the Partnership (in proportion to their respective shares of the distributions at issue, and inversely to the order of distributions made pursuant to Section 4.1) all or any portion of the distributions made to the Partners (including any distribution made to the General Partner under Section 4.1(b)(i)(B)) and not previously returned for the purpose of meeting such Partner’s share of (x) indemnification obligations arising under Section 8.2, or (y) any other liabilities of the Partnership, including the extent incurred in connection with indemnity, purchase price adjustment, tax or other obligations in connection with an investment, whether such obligations arise before or after the last day of the term of the Partnership, or with respect to any Partner, before or after such Pa is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Fund Expenses from description 5.7(b) - outside of the placement agent fees (see the note further below), the fund expenses section is fairly standard is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Expenses from description 5.7(b) - outside of the placement agent fees (see the note further below), the fund expenses section is fairly standard is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description No org cap is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description No org cap is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Audit from description Yes, as promptly as reasonably possible after each year is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Audit from description Yes, as promptly as reasonably possible after each year is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Allocation of Profit & Loss - 3.1 from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":true}
###Human: Determine if the accounting term Allocation of Profit & Loss - 3.1 from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":true}
###Human: Determine if the accounting term Tax Distributions 4.1(a) from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Tax Distributions 4.1(a) from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term "Election by General Partner" - 4.1(d) from description (i)The General Partner may, in its sole discretion, elect to receive less than the full amount of any distribution to which it is otherwise entitled under this Agreement with respect to one or more Limited Partners. (ii) Following one or more elections by the General Partner pursuant to Section 4.1(d)(i), the General Partner may, in its sole discretion, elect to receive an additional portion of any distribution pursuant to Section 4.1(b); provided, however, that in no event shall such additional portion: (A) equal or exceed an amount that, upon payment of such additional portion, would require the General Partner to make a payment under Section 7.3(e) if, immediately following such payment, the Partnership had fully liquidated and the General Partner’s capital contribution obligation calculated in accordance with Section 7.3(e) were fully due and payable; or (B) exceed, with respect to any single distribution to be made pursuant to Section 4.1(b), the lesser of: (x) one-third of the o is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term "Election by General Partner" - 4.1(d) from description (i)The General Partner may, in its sole discretion, elect to receive less than the full amount of any distribution to which it is otherwise entitled under this Agreement with respect to one or more Limited Partners. (ii) Following one or more elections by the General Partner pursuant to Section 4.1(d)(i), the General Partner may, in its sole discretion, elect to receive an additional portion of any distribution pursuant to Section 4.1(b); provided, however, that in no event shall such additional portion: (A) equal or exceed an amount that, upon payment of such additional portion, would require the General Partner to make a payment under Section 7.3(e) if, immediately following such payment, the Partnership had fully liquidated and the General Partner’s capital contribution obligation calculated in accordance with Section 7.3(e) were fully due and payable; or (B) exceed, with respect to any single distribution to be made pursuant to Section 4.1(b), the lesser of: (x) one-third of the o is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term K-1 Timing from description Within 90 days after the close of each Fiscal Year, the Partnership’s accountants shall provide to each Partner the Partnership information relating to such Partner required to be set forth on IRS Form 1065, Schedule K-1. Further, at the request and expense of any Limited Partner, the General Partner shall use reasonable efforts to: (i) provide such Limited Partner with other Partnership information required by such Limited Partner to comply with tax and other reporting obligations of such Limited Partner under applicable law; and (ii) assist such Limited Partner in applying for any available exemption, waiver, reduction or refund of or from taxes relating to such Limited Partner’s interest in the Partnership; provided, however, that in no event shall the General Partner be: (i) required to assist a Limited Partner in taking a tax or other reporting position that is inconsistent with the Partnership’s own reported position; or (ii) required or deemed to provide advice or counsel to a L is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term K-1 Timing from description Within 90 days after the close of each Fiscal Year, the Partnership’s accountants shall provide to each Partner the Partnership information relating to such Partner required to be set forth on IRS Form 1065, Schedule K-1. Further, at the request and expense of any Limited Partner, the General Partner shall use reasonable efforts to: (i) provide such Limited Partner with other Partnership information required by such Limited Partner to comply with tax and other reporting obligations of such Limited Partner under applicable law; and (ii) assist such Limited Partner in applying for any available exemption, waiver, reduction or refund of or from taxes relating to such Limited Partner’s interest in the Partnership; provided, however, that in no event shall the General Partner be: (i) required to assist a Limited Partner in taking a tax or other reporting position that is inconsistent with the Partnership’s own reported position; or (ii) required or deemed to provide advice or counsel to a L is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description As promptly as is reasonably possible, but in any event within 45 days (though subject to reasonable delays in the event of the late receipt of any necessary financial statements from any Portfolio Company), after the close of each fiscal quarter (other than the final quarter of any Fiscal Year), the General Partner shall provide to each Partner a report (which need not have been audited) briefly summarizing the business activities and financial status of the Partnership, including: (i) the net worth of the Partnership and the value of each Partnership asset as reflected on the Partnership’s books; (ii) the Fair Market Value at the time of distribution of each asset distributed by the Partnership since the last statement containing such information; (iii) the Capital Account balance of such Partner; (iv) a brief description of each new investment made by the Partnership since the last statement containing such information; (v) a brief progress/status report on each of the Partnership’s is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description As promptly as is reasonably possible, but in any event within 45 days (though subject to reasonable delays in the event of the late receipt of any necessary financial statements from any Portfolio Company), after the close of each fiscal quarter (other than the final quarter of any Fiscal Year), the General Partner shall provide to each Partner a report (which need not have been audited) briefly summarizing the business activities and financial status of the Partnership, including: (i) the net worth of the Partnership and the value of each Partnership asset as reflected on the Partnership’s books; (ii) the Fair Market Value at the time of distribution of each asset distributed by the Partnership since the last statement containing such information; (iii) the Capital Account balance of such Partner; (iv) a brief description of each new investment made by the Partnership since the last statement containing such information; (v) a brief progress/status report on each of the Partnership’s is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Valuation - 5.10(a), (b), (c) and (d) from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Valuation - 5.10(a), (b), (c) and (d) from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Placement Fees/Broker-Dealer from description Are placement fees listed as a permissible fund expense: Yes Reviewer instructions: If above response is "No", leave a comment in the "Reviewer Comments" column that (i) states that we must suggest adding the following language to the Fund's fund expenses provision in order for the fund to accept AL capital: "syndication, private placement fee, or finder’s fees associated with the issuance of interests in the [Partnership // Fund]" and (ii) suggests that the customer consult with their counsel to consider adding a related disclosure to the fund's PPM or Subscription Agreement, as applicable. Is the management fee offset by any such placement fees: Yes Reviewer Instructions: If above response is "Yes", we must request that the provision be changed in order for the fund to accept AL capital. NOTE TO VCA - If there is (1) pushback from the customer on including the language and (2) the vehicle is an SPV, we can drop the request. If the vehicle is a Fund, we need to include the langu is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Placement Fees/Broker-Dealer from description Are placement fees listed as a permissible fund expense: Yes Reviewer instructions: If above response is "No", leave a comment in the "Reviewer Comments" column that (i) states that we must suggest adding the following language to the Fund's fund expenses provision in order for the fund to accept AL capital: "syndication, private placement fee, or finder’s fees associated with the issuance of interests in the [Partnership // Fund]" and (ii) suggests that the customer consult with their counsel to consider adding a related disclosure to the fund's PPM or Subscription Agreement, as applicable. Is the management fee offset by any such placement fees: Yes Reviewer Instructions: If above response is "Yes", we must request that the provision be changed in order for the fund to accept AL capital. NOTE TO VCA - If there is (1) pushback from the customer on including the language and (2) the vehicle is an SPV, we can drop the request. If the vehicle is a Fund, we need to include the langu is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Exclusion from description (i) Notwithstanding anything to the contrary in this Agreement, the General Partner may exclude a particular Limited Partner from participating in all or any part of an investment if the General Partner determines in its sole discretion that (a) such Limited Partner’s participation (or in the case of an exclusion from part but not all of its participation, the part of its participation in question) in such investment is reasonably likely to cause a material delay, expense, or other adverse effect on the Partnership, any Portfolio Company, or any of their respective Affiliates, including a material increase in the risk or difficulty to the Partnership of consummating such investment; or (b) a reasonable likelihood exists that such Limited Partner’s participation (or in the case of an exclusion from part but not all of its participation, the part of its participation in question) in such investment would cause (x) a violation of, or non-compliance with, any law, regulation, governmental is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Exclusion from description (i) Notwithstanding anything to the contrary in this Agreement, the General Partner may exclude a particular Limited Partner from participating in all or any part of an investment if the General Partner determines in its sole discretion that (a) such Limited Partner’s participation (or in the case of an exclusion from part but not all of its participation, the part of its participation in question) in such investment is reasonably likely to cause a material delay, expense, or other adverse effect on the Partnership, any Portfolio Company, or any of their respective Affiliates, including a material increase in the risk or difficulty to the Partnership of consummating such investment; or (b) a reasonable likelihood exists that such Limited Partner’s participation (or in the case of an exclusion from part but not all of its participation, the part of its participation in question) in such investment would cause (x) a violation of, or non-compliance with, any law, regulation, governmental is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Key Person Event from description During the Investment Period, if any of the Principal(s) has failed to devote sufficient time and effort to satisfy the Principal Time Commitment of Section 5.5(b) (a “Key Person Event”), the General Partner shall promptly provide notice thereof to the Limited Partners. Upon the occurrence of a Key Person Event, a Majority-In-Interest of the Limited Partners may place the Partnership in Limited Operations Mode. Once the Partnership has been placed in Limited Operations Mode pursuant to this Section 5.5(c), the Partnership may be released from such Limited Operations Mode only (x) if such Key Person Event is cured within 90 days; (y) via notice of waiver of such requirement to the General Partner by a 75%-In-Interest of the Limited Partners; or (z) a replacement Principal(s) is approved by the LPAC within 90 days following such Key Person Event, in which event the Investment Period will continue until its termination otherwise in accordance with this Agreement and without further regard is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Key Person Event from description During the Investment Period, if any of the Principal(s) has failed to devote sufficient time and effort to satisfy the Principal Time Commitment of Section 5.5(b) (a “Key Person Event”), the General Partner shall promptly provide notice thereof to the Limited Partners. Upon the occurrence of a Key Person Event, a Majority-In-Interest of the Limited Partners may place the Partnership in Limited Operations Mode. Once the Partnership has been placed in Limited Operations Mode pursuant to this Section 5.5(c), the Partnership may be released from such Limited Operations Mode only (x) if such Key Person Event is cured within 90 days; (y) via notice of waiver of such requirement to the General Partner by a 75%-In-Interest of the Limited Partners; or (z) a replacement Principal(s) is approved by the LPAC within 90 days following such Key Person Event, in which event the Investment Period will continue until its termination otherwise in accordance with this Agreement and without further regard is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term GP Commitment from description equal to at least $250k is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term GP Commitment from description equal to at least $250k is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description 2.5%/year of total capital commitments of all Partners for 4 years. Then each consecutive year after that, it is reduced by 0.5% (i.e., 2.0%, then 1.5%, then 1.0% etc.) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description 2.5%/year of total capital commitments of all Partners for 4 years. Then each consecutive year after that, it is reduced by 0.5% (i.e., 2.0%, then 1.5%, then 1.0% etc.) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset (6.9(d)) from description The Management Fee payable by the Partnership with respect to any Management Fee Year shall be reduced by an amount (such amount being referred to herein as the “Management Fee Offset”) equal to the Partnership’s share of the excess, if any, of (i) the amount of all Transaction Fees received or treated as being received in any year over (ii) the amount of any reimbursable Partnership Expenses or Organizational Expenses incurred by the General Partner, the Investment Manager, the Managing Partners, their Affiliates or any of their respective employees that have not been reimbursed pursuant to the terms of Section 6.5. If at the end of any Management Fee Year there remains any Management Fee Offset that has not been offset against the Management Fee, any such remaining amount shall be offset against the Management Fees payable in the next succeeding Management Fee Year or Management Fee Years such that the remaining Management Fee Offset is eliminated as quickly as possible; provided, ho is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset (6.9(d)) from description The Management Fee payable by the Partnership with respect to any Management Fee Year shall be reduced by an amount (such amount being referred to herein as the “Management Fee Offset”) equal to the Partnership’s share of the excess, if any, of (i) the amount of all Transaction Fees received or treated as being received in any year over (ii) the amount of any reimbursable Partnership Expenses or Organizational Expenses incurred by the General Partner, the Investment Manager, the Managing Partners, their Affiliates or any of their respective employees that have not been reimbursed pursuant to the terms of Section 6.5. If at the end of any Management Fee Year there remains any Management Fee Offset that has not been offset against the Management Fee, any such remaining amount shall be offset against the Management Fees payable in the next succeeding Management Fee Year or Management Fee Years such that the remaining Management Fee Offset is eliminated as quickly as possible; provided, ho is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period (aka Commitment Period) from description the earlier of (i) the fourth anniversary of the Initial Closing Date (unless extended for up to one year in the sole discretion of the General Partner) and (ii) the date a Successor Fund begins to accrue a management fee is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period (aka Commitment Period) from description the earlier of (i) the fourth anniversary of the Initial Closing Date (unless extended for up to one year in the sole discretion of the General Partner) and (ii) the date a Successor Fund begins to accrue a management fee is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description 10 years, with up to two 1-year extensions with majority of LP consent is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description 10 years, with up to two 1-year extensions with majority of LP consent is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital (5.1) from description Notwithstanding the foregoing or any other provision contained herein to the contrary, during the Commitment Period, the General Partner, may reinvest or retain for reinvestment Distributable Proceeds that constitutes profit (and not the return of Capital Commitments); provided, however, without the approval of the Majority of the Limited Partnership Interests, the preceding option to reinvest or retain for reinvestment Distributable Proceeds (i) shall be subject to Section 6.8 in all respects and (ii) shall not result in the Partnership having made cumulative investments with an aggregate Investment Cost in excess of 125% of the aggregate Capital Commitments of the Partners (the “Reinvestment Ceiling”). For purposes of calculating the Reinvestment Ceiling, (i) the reinvestment of proceeds from an investment in a Portfolio Company that is repaid, liquidated or disposed of (other than by conversion into equity but including a distribution in kind) within twelve (12) month of the investm is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital (5.1) from description Notwithstanding the foregoing or any other provision contained herein to the contrary, during the Commitment Period, the General Partner, may reinvest or retain for reinvestment Distributable Proceeds that constitutes profit (and not the return of Capital Commitments); provided, however, without the approval of the Majority of the Limited Partnership Interests, the preceding option to reinvest or retain for reinvestment Distributable Proceeds (i) shall be subject to Section 6.8 in all respects and (ii) shall not result in the Partnership having made cumulative investments with an aggregate Investment Cost in excess of 125% of the aggregate Capital Commitments of the Partners (the “Reinvestment Ceiling”). For purposes of calculating the Reinvestment Ceiling, (i) the reinvestment of proceeds from an investment in a Portfolio Company that is repaid, liquidated or disposed of (other than by conversion into equity but including a distribution in kind) within twelve (12) month of the investm is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Capital Contributions (3.2(d)) from description On the Initial Closing Date, each Partner shall contribute to the Partnership fifty percent (50%) of its total Capital Commitment unless otherwise determined by the General Partner. Thereafter, on the Next Funding Date, except as provided in Section 3.2(e), each Partner agrees to contribute to the Partnership the remaining fifty percent (50%) of its total Capital Commitment when and as called by the General Partner upon at least 10 business days’ notice is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Capital Contributions (3.2(d)) from description On the Initial Closing Date, each Partner shall contribute to the Partnership fifty percent (50%) of its total Capital Commitment unless otherwise determined by the General Partner. Thereafter, on the Next Funding Date, except as provided in Section 3.2(e), each Partner agrees to contribute to the Partnership the remaining fifty percent (50%) of its total Capital Commitment when and as called by the General Partner upon at least 10 business days’ notice is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Discretionary (5.2) from description (a) All distributions of Distributable Proceeds shall be distributed among the Partners in the following order and priority: (i) first, among all Partners in proportion to their respective Capital Percentages until each Partner has received cumulative distributions of Distributable Proceeds pursuant to this Section 5.2(a)(i) and Section 5.2(b) equal to its aggregate Capital Contributions; and (ii) thereafter, (x) 20% to the General Partner and (y) 80% to all Partners in proportion to their respective Capital Percentages. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Discretionary (5.2) from description (a) All distributions of Distributable Proceeds shall be distributed among the Partners in the following order and priority: (i) first, among all Partners in proportion to their respective Capital Percentages until each Partner has received cumulative distributions of Distributable Proceeds pursuant to this Section 5.2(a)(i) and Section 5.2(b) equal to its aggregate Capital Contributions; and (ii) thereafter, (x) 20% to the General Partner and (y) 80% to all Partners in proportion to their respective Capital Percentages. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Tax (5.3) from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Tax (5.3) from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Borrowing (3.5(a)) from description If the General Partner shall determine, in its sole and absolute discretion, that funds are necessary to consummate an investment or to pay Partnership Expenses or the Management Fee prior to the time all or a portion of such funds are otherwise to be made available by the Partners, then the General Partner may borrow such funds or otherwise arrange financing in respect of such funds on behalf of the Partnership. Notwithstanding the foregoing, the General Partner intends, but is not required to, either (i) cause Capital Contributions to be required to be made by the Partners within ninety (90) days of such borrowing sufficient to repay such borrowing; or (ii) repay the amount of such borrowing within ninety (90) days; provided, however, that the Partnership may not borrow, issue debt obligations, provide guarantees or otherwise incur leverage in excess of fifteen percent (15%) of the Partnership’s aggregate Capital Commitments. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Borrowing (3.5(a)) from description If the General Partner shall determine, in its sole and absolute discretion, that funds are necessary to consummate an investment or to pay Partnership Expenses or the Management Fee prior to the time all or a portion of such funds are otherwise to be made available by the Partners, then the General Partner may borrow such funds or otherwise arrange financing in respect of such funds on behalf of the Partnership. Notwithstanding the foregoing, the General Partner intends, but is not required to, either (i) cause Capital Contributions to be required to be made by the Partners within ninety (90) days of such borrowing sufficient to repay such borrowing; or (ii) repay the amount of such borrowing within ninety (90) days; provided, however, that the Partnership may not borrow, issue debt obligations, provide guarantees or otherwise incur leverage in excess of fifteen percent (15%) of the Partnership’s aggregate Capital Commitments. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Closings; Late Admissions (3.2(a), (b), (g)) from description Cap on total commitments at $15M Unless waived by the GP, LPs admitted after the iniital closing pay an interest charge of prime rate + 3% 12 months after the initial close, GP needs 2/3 LP vote to admit new LPs Up to the cap of $15M, additional closings can occur up to 18 months after initial closing. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Closings; Late Admissions (3.2(a), (b), (g)) from description Cap on total commitments at $15M Unless waived by the GP, LPs admitted after the iniital closing pay an interest charge of prime rate + 3% 12 months after the initial close, GP needs 2/3 LP vote to admit new LPs Up to the cap of $15M, additional closings can occur up to 18 months after initial closing. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term In-Kind Distributions (5.6) from description (a)The General Partner may distribute freely tradable (as defined in Section 10.5(c)) Portfolio Securities in kind; provided, however, that (i) the assets distributed in kind shall be valued pursuant to Section 10.5, and the amount of such value shall be treated as Distributable Proceeds for purposes of applying the terms of this Agreement and (ii) in the event the General Partner receives distributions in kind, each Partner shall have the option to elect to receive such Partner’s pro rata portion of such in kind distributions. The timing of such in kind distributions shall be at the sole discretion of the General Partner taking into account, by way of example only, the relative maturity and market capitalization of the Portfolio Company. Upon such distribution for purposes of Capital Accounts, the Partnership shall be deemed to have realized Net Income or Net Loss as of the date of distribution as though such assets had been sold by the Partnership at such valuation. Any items of taxa is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term In-Kind Distributions (5.6) from description (a)The General Partner may distribute freely tradable (as defined in Section 10.5(c)) Portfolio Securities in kind; provided, however, that (i) the assets distributed in kind shall be valued pursuant to Section 10.5, and the amount of such value shall be treated as Distributable Proceeds for purposes of applying the terms of this Agreement and (ii) in the event the General Partner receives distributions in kind, each Partner shall have the option to elect to receive such Partner’s pro rata portion of such in kind distributions. The timing of such in kind distributions shall be at the sole discretion of the General Partner taking into account, by way of example only, the relative maturity and market capitalization of the Portfolio Company. Upon such distribution for purposes of Capital Accounts, the Partnership shall be deemed to have realized Net Income or Net Loss as of the date of distribution as though such assets had been sold by the Partnership at such valuation. Any items of taxa is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term General Partner Clawback (9.3(c)) from description Notwithstanding Section 9.3(a)(iii), after the final distribution of the assets of the Partnership among the Partners as provided in Section 9.3(a)(iii), if the aggregate amount distributed to the General Partner pursuant to Section 5.2(a)(ii)(x), and treated as having been distributed pursuant to such sections pursuant to Section 5.3 (including any amounts distributed in accordance with such sections pursuant to Section 9.3(a)(iii)) is in excess of the Appropriate Distribution Amount (such excess being referred to as the “Excess Distributions”), the General Partner will make a Capital Contribution to the Partnership in the form of cash or freely tradable Securities (such Securities having a value determined pursuant to Section 10.5(a)) equal to the amount of such Excess Distributions and such amount will be distributed to the Limited Partners in proportion to their Capital Percentages upon 10 business days’ notice; provided, however, that the General Partner shall not be obligated to is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term General Partner Clawback (9.3(c)) from description Notwithstanding Section 9.3(a)(iii), after the final distribution of the assets of the Partnership among the Partners as provided in Section 9.3(a)(iii), if the aggregate amount distributed to the General Partner pursuant to Section 5.2(a)(ii)(x), and treated as having been distributed pursuant to such sections pursuant to Section 5.3 (including any amounts distributed in accordance with such sections pursuant to Section 9.3(a)(iii)) is in excess of the Appropriate Distribution Amount (such excess being referred to as the “Excess Distributions”), the General Partner will make a Capital Contribution to the Partnership in the form of cash or freely tradable Securities (such Securities having a value determined pursuant to Section 10.5(a)) equal to the amount of such Excess Distributions and such amount will be distributed to the Limited Partners in proportion to their Capital Percentages upon 10 business days’ notice; provided, however, that the General Partner shall not be obligated to is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term LP Clawback 3.4(b) from description Notwithstanding Section 3.4(a), if the Partnership incurs any liability for indemnification claims pursuant to Section 6.11 for which, in the judgment of the General Partner, the Partnership has insufficient funds to pay (after calling any Unfunded Capital Commitments), each Partner (including each Limited Partner), within five (5) days after written notice from the General Partner describing the nature and amount of such liability and stating each Partner’s share thereof, will contribute to the Partnership its pro rata share of such liability (based on the amount by which such Partner’s distributions from the Partnership would have been reduced if the amount to be returned to the Partnership by the Partners had been retained in the Partnership to pay such liability and had never been distributed to the Partners); provided, however, that the aggregate amount of all such contributions shall not exceed the lesser of (i) the aggregate amount previously distributed to the Partners or (ii) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term LP Clawback 3.4(b) from description Notwithstanding Section 3.4(a), if the Partnership incurs any liability for indemnification claims pursuant to Section 6.11 for which, in the judgment of the General Partner, the Partnership has insufficient funds to pay (after calling any Unfunded Capital Commitments), each Partner (including each Limited Partner), within five (5) days after written notice from the General Partner describing the nature and amount of such liability and stating each Partner’s share thereof, will contribute to the Partnership its pro rata share of such liability (based on the amount by which such Partner’s distributions from the Partnership would have been reduced if the amount to be returned to the Partnership by the Partners had been retained in the Partnership to pay such liability and had never been distributed to the Partners); provided, however, that the aggregate amount of all such contributions shall not exceed the lesser of (i) the aggregate amount previously distributed to the Partners or (ii) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Fund Expenses (aka Partnership Expenses) from description Standard Fund Expenses is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Expenses (aka Partnership Expenses) from description Standard Fund Expenses is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description Standard Organizational Expenses is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description Standard Organizational Expenses is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Audit (10.4) from description As promptly as possible after the close of the Fiscal Year of the Partnership ending on December 31, 2022 and each Fiscal Year of the Partnership thereafter, but in no event later than 120 days after the end of each such year, the General Partner will transmit to the Limited Partners unaudited financial statements of the Partnership for such year (with the initial unaudited financial statements covering the partial 2022 Fiscal Year of the Partnership), which financial statements shall include (a) the assets and liabilities of the Partnership; (b) the Net Income or Net Loss of the Partnership; (c) the changes in cash flow of the Partnership; and (d) statements of the Capital Accounts of the Partners. In addition, the General Partner shall, within 90 days after the end of each Fiscal Year, supply all other information necessary to enable each Partner to prepare its federal income tax returns, specifically including each Partner’s respective Schedule K-1 from the Partnership. The General is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Audit (10.4) from description As promptly as possible after the close of the Fiscal Year of the Partnership ending on December 31, 2022 and each Fiscal Year of the Partnership thereafter, but in no event later than 120 days after the end of each such year, the General Partner will transmit to the Limited Partners unaudited financial statements of the Partnership for such year (with the initial unaudited financial statements covering the partial 2022 Fiscal Year of the Partnership), which financial statements shall include (a) the assets and liabilities of the Partnership; (b) the Net Income or Net Loss of the Partnership; (c) the changes in cash flow of the Partnership; and (d) statements of the Capital Accounts of the Partners. In addition, the General Partner shall, within 90 days after the end of each Fiscal Year, supply all other information necessary to enable each Partner to prepare its federal income tax returns, specifically including each Partner’s respective Schedule K-1 from the Partnership. The General is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Allocations (4.2) from description (a) Subject to the limitation in Section 4.3 and after giving effect to the special allocations provided in Sections 4.3, 4.4 and 4.5, Net Income for any Fiscal Year or other relevant period shall be allocated to the Capital Accounts of the Partners as follows: (i) first, among the Partners in proportion to and to the extent of the excess, if any, of the cumulative amount of Net Loss previously allocated to each Partner pursuant to Section 4.2(b)(ii) for all prior periods over the cumulative amount of Net Income allocated to each Partner pursuant to this Section 4.2(a)(i) for the current and all prior periods; and (ii) thereafter, (x) 20% to the General Partner and (y) 80% to the Partners in proportion to their respective Capital Percentages. (b) Subject to the limitation in Section 4.3 and after giving effect to the special allocations provided in Sections 4.3, 4.4 and 4.5, Net Loss for any Fiscal Year or other relevant period shall be allocated to the Capital Accounts of the Partne is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Allocations (4.2) from description (a) Subject to the limitation in Section 4.3 and after giving effect to the special allocations provided in Sections 4.3, 4.4 and 4.5, Net Income for any Fiscal Year or other relevant period shall be allocated to the Capital Accounts of the Partners as follows: (i) first, among the Partners in proportion to and to the extent of the excess, if any, of the cumulative amount of Net Loss previously allocated to each Partner pursuant to Section 4.2(b)(ii) for all prior periods over the cumulative amount of Net Income allocated to each Partner pursuant to this Section 4.2(a)(i) for the current and all prior periods; and (ii) thereafter, (x) 20% to the General Partner and (y) 80% to the Partners in proportion to their respective Capital Percentages. (b) Subject to the limitation in Section 4.3 and after giving effect to the special allocations provided in Sections 4.3, 4.4 and 4.5, Net Loss for any Fiscal Year or other relevant period shall be allocated to the Capital Accounts of the Partne is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Withholding (5.5) from description If the Partnership incurs any obligation to pay any amount in respect of taxes (including withholding taxes and any interest, penalties or additions to tax, and including any audit adjustments with respect to any of the foregoing) imposed on income of, gross proceeds or distributions made to any Partner, or if the amount of a payment or distribution of cash or other property to the Partnership is reduced as a result of tax withholding by other parties, any amount so required to be paid by the Partnership or reduction in amounts received by the Partnership with respect to such Partner (a “Tax Liability”) shall be treated for all purposes of this Agreement as if it had been (a) distributed to such Partner, if such Partner’s share of any cash distributions made concurrently by the Partnership is at least equal to the amount required to be withheld (in which case, if applicable, the amount withheld by the Partnership shall be remitted to the appropriate governmental authority), or (b) tran is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Withholding (5.5) from description If the Partnership incurs any obligation to pay any amount in respect of taxes (including withholding taxes and any interest, penalties or additions to tax, and including any audit adjustments with respect to any of the foregoing) imposed on income of, gross proceeds or distributions made to any Partner, or if the amount of a payment or distribution of cash or other property to the Partnership is reduced as a result of tax withholding by other parties, any amount so required to be paid by the Partnership or reduction in amounts received by the Partnership with respect to such Partner (a “Tax Liability”) shall be treated for all purposes of this Agreement as if it had been (a) distributed to such Partner, if such Partner’s share of any cash distributions made concurrently by the Partnership is at least equal to the amount required to be withheld (in which case, if applicable, the amount withheld by the Partnership shall be remitted to the appropriate governmental authority), or (b) tran is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports (10.4) from description Annual -- As promptly as possible after the close of the Fiscal Year of the Partnership ending on December 31, 2022 and each Fiscal Year of the Partnership thereafter, but in no event later than 120 days after the end of each such year, the General Partner will transmit to the Limited Partners unaudited financial statements of the Partnership for such year (with the initial unaudited financial statements covering the partial 2022 Fiscal Year of the Partnership), which financial statements shall include (a) the assets and liabilities of the Partnership; (b) the Net Income or Net Loss of the Partnership; (c) the changes in cash flow of the Partnership; and (d) statements of the Capital Accounts of the Partners. K-1 -- the General Partner shall, within 90 days after the end of each Fiscal Year, supply all other information necessary to enable each Partner to prepare its federal income tax returns, specifically including each Partner’s respective Schedule K-1 from the Partnership. Quar is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports (10.4) from description Annual -- As promptly as possible after the close of the Fiscal Year of the Partnership ending on December 31, 2022 and each Fiscal Year of the Partnership thereafter, but in no event later than 120 days after the end of each such year, the General Partner will transmit to the Limited Partners unaudited financial statements of the Partnership for such year (with the initial unaudited financial statements covering the partial 2022 Fiscal Year of the Partnership), which financial statements shall include (a) the assets and liabilities of the Partnership; (b) the Net Income or Net Loss of the Partnership; (c) the changes in cash flow of the Partnership; and (d) statements of the Capital Accounts of the Partners. K-1 -- the General Partner shall, within 90 days after the end of each Fiscal Year, supply all other information necessary to enable each Partner to prepare its federal income tax returns, specifically including each Partner’s respective Schedule K-1 from the Partnership. Quar is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Valuation (10.5) from description (a) In the event any assets in-kind are distributed pursuant to Section 5.6, the valuation of such assets for distribution purposes shall be at fair market value, and all such valuations shall be pursuant to methodologies approved by the General Partner (it being agreed that the valuation methods provided in Section 10.5(b) are deemed to have approval of the General Partner). (b) For distribution purposes, the following criteria shall be used for determining the fair market value of Securities that are freely tradable (as defined in Section 10.5(c)): (i) If traded on one or more one or more United States or foreign digital exchanges or quoted on the U.S. NASDAQ National Market, the value shall be deemed to be the Securities’ average of the trailing five days’ closing bid prices as reported in The Wall Street Journal or another publication or service nationally recognized in the United States that reports such data or, with respect to Digital Assets, the value shall be deemed to be su is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Valuation (10.5) from description (a) In the event any assets in-kind are distributed pursuant to Section 5.6, the valuation of such assets for distribution purposes shall be at fair market value, and all such valuations shall be pursuant to methodologies approved by the General Partner (it being agreed that the valuation methods provided in Section 10.5(b) are deemed to have approval of the General Partner). (b) For distribution purposes, the following criteria shall be used for determining the fair market value of Securities that are freely tradable (as defined in Section 10.5(c)): (i) If traded on one or more one or more United States or foreign digital exchanges or quoted on the U.S. NASDAQ National Market, the value shall be deemed to be the Securities’ average of the trailing five days’ closing bid prices as reported in The Wall Street Journal or another publication or service nationally recognized in the United States that reports such data or, with respect to Digital Assets, the value shall be deemed to be su is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term GP Removal (7.5) from description GP can removed for Cause upon 2/3 LP vote is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term GP Removal (7.5) from description GP can removed for Cause upon 2/3 LP vote is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Key Person (3.2(f)) from description If a majority of the Managing Partners leave, 2/3 of the LPs can vote to terminate the Commitment Period is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Key Person (3.2(f)) from description If a majority of the Managing Partners leave, 2/3 of the LPs can vote to terminate the Commitment Period is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description If there is a Suspension Period, management fee is reduced to 1%. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description If there is a Suspension Period, management fee is reduced to 1%. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset from description Management Fee will now also be offset by any Organizational Expenses that exceed $300,000 is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset from description Management Fee will now also be offset by any Organizational Expenses that exceed $300,000 is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Mandatory from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Mandatory from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Discretionary from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions - Discretionary from description nan is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description (a) The Management Company (as defined in paragraph 8.1(b) (or as otherwise instructed by the General Partner) shall be compensated in advance on a quarterly basis for services rendered to the Partnership through the final dissolution of the Partnership, commencing on the Initial Closing Date, by the payment by the Partnership in cash to the Management Company (or as otherwise instructed by the General Partner) on the first day of each calendar quarter (or portion thereof) of a management fee (collectively, the “Management Fee”). The first day of each calendar quarter shall be January 1, April 1, July 1 and October 1, or on the next closest succeeding business day of each calendar quarter (each, a “Fee Date”). Value added taxes, to the extent applicable, will be added to any payments of the Management Fees. (b) The Management Fee for each Fee Date shall be an amount equal to the aggregate Capital Commitments of all Limited Partners multiplied by the Management Fee Percentage. The “Man is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":true}
###Human: Determine if the accounting term Management Fee from description (a) The Management Company (as defined in paragraph 8.1(b) (or as otherwise instructed by the General Partner) shall be compensated in advance on a quarterly basis for services rendered to the Partnership through the final dissolution of the Partnership, commencing on the Initial Closing Date, by the payment by the Partnership in cash to the Management Company (or as otherwise instructed by the General Partner) on the first day of each calendar quarter (or portion thereof) of a management fee (collectively, the “Management Fee”). The first day of each calendar quarter shall be January 1, April 1, July 1 and October 1, or on the next closest succeeding business day of each calendar quarter (each, a “Fee Date”). Value added taxes, to the extent applicable, will be added to any payments of the Management Fees. (b) The Management Fee for each Fee Date shall be an amount equal to the aggregate Capital Commitments of all Limited Partners multiplied by the Management Fee Percentage. The “Man is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":true}
###Human: Determine if the accounting term Investment Period from description 14.9. Commitment Period. Commitment Period shall mean the period commencing on the Initial Closing Date and ending on the earlier of (i) the expiration of the Investment Period, and (ii) the date when 70% of the Partnership's Capital Commitments have been invested, committed, expended or reserved either for follow-on investments or to pay the Partnership's liabilities and expenses. 14.12. Investment Period. Except as it may be suspended pursuant to paragraph 4.6, the Investment Period shall mean the period beginning on the Initial Closing Date and terminating upon the third anniversary of the Initial Closing Date. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period from description 14.9. Commitment Period. Commitment Period shall mean the period commencing on the Initial Closing Date and ending on the earlier of (i) the expiration of the Investment Period, and (ii) the date when 70% of the Partnership's Capital Commitments have been invested, committed, expended or reserved either for follow-on investments or to pay the Partnership's liabilities and expenses. 14.12. Investment Period. Except as it may be suspended pursuant to paragraph 4.6, the Investment Period shall mean the period beginning on the Initial Closing Date and terminating upon the third anniversary of the Initial Closing Date. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description Standard term, but the extensions provision has been modified: The General Partner may, in its sole discretion by written notice to the Limited Partners, extend the Partnership's term by up to an additional one (1) year period, and upon the conclusion of the one (1) extension period, the General Partner may extend the Partnership's term by an additional one (1) year period with the consent of a the LPAC or Majority in Interest of the Limited Partners. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description Standard term, but the extensions provision has been modified: The General Partner may, in its sole discretion by written notice to the Limited Partners, extend the Partnership's term by up to an additional one (1) year period, and upon the conclusion of the one (1) extension period, the General Partner may extend the Partnership's term by an additional one (1) year period with the consent of a the LPAC or Majority in Interest of the Limited Partners. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Early Termination for Cause from description The Fund can be dissolved early upon a majority vote following a Cause Event: Cause Event shall mean either (i) a final conviction by a court of competent jurisdiction of the General Partner or the Management Company for actual fraud, embezzlement or any felony with a punishment under applicable law of over 3 years of imprisonment, or (ii) a verdict or judgment by a court of competent jurisdiction that the General Partner or the Management Company has willfully and materially breached this Agreement; provided however that if the position of the individual responsible for the Cause Event has been terminated and he/she is not holding any executive position in the Partnership, there shall be no Cause Event. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Early Termination for Cause from description The Fund can be dissolved early upon a majority vote following a Cause Event: Cause Event shall mean either (i) a final conviction by a court of competent jurisdiction of the General Partner or the Management Company for actual fraud, embezzlement or any felony with a punishment under applicable law of over 3 years of imprisonment, or (ii) a verdict or judgment by a court of competent jurisdiction that the General Partner or the Management Company has willfully and materially breached this Agreement; provided however that if the position of the individual responsible for the Cause Event has been terminated and he/she is not holding any executive position in the Partnership, there shall be no Cause Event. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital from description The General Partner may at any time, in its sole discretion, (i) retain any assets otherwise available for distribution pursuant to paragraph 7.4, and/or (ii) recall any amounts previously distributed to the Partners pursuant to 10.6(c), and in each (i) or (ii) use such proceeds for investment in Securities of Portfolio Companies and/or payment Partnership's liabilities and expenses and/or making reserves for future Partnership liabilities and expenses, provided however, that the total cost of investments in all Portfolio Companies made by the Partnership, including from such re-invested amounts, shall not exceed 110% of the aggregate Capital Commitments to the Partnership. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital from description The General Partner may at any time, in its sole discretion, (i) retain any assets otherwise available for distribution pursuant to paragraph 7.4, and/or (ii) recall any amounts previously distributed to the Partners pursuant to 10.6(c), and in each (i) or (ii) use such proceeds for investment in Securities of Portfolio Companies and/or payment Partnership's liabilities and expenses and/or making reserves for future Partnership liabilities and expenses, provided however, that the total cost of investments in all Portfolio Companies made by the Partnership, including from such re-invested amounts, shall not exceed 110% of the aggregate Capital Commitments to the Partnership. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Cashless Contributions from description 1. They made a deletion in 4.1 that is supposed to be in there when there are cashless contributions. 2. Their GP commitment paragraph makes the cashless contributions optional, not set in stone. See below: The General Partner, the Management Company, their respective Affiliates and employees and officers, and the Managing Directors and and/or any of their Affiliates (together, “GP Group”) shall have a Capital Commitment to the Partnership equal to at least 1% of the aggregate Capital Commitments of all Partners , on the same schedule as the Limited Partners’ capital contributions are made. The GP Group shall, on each date on which any Limited Partner makes a contribution to the capital of the Partnership, make a contribution to the capital of the Partnership such that the aggregate capital contributions made by the GP Group shall be equal to at least the product of the GP Group’s Partnership Percentage multiplied by the total contributable capital called by the Partners (including is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Cashless Contributions from description 1. They made a deletion in 4.1 that is supposed to be in there when there are cashless contributions. 2. Their GP commitment paragraph makes the cashless contributions optional, not set in stone. See below: The General Partner, the Management Company, their respective Affiliates and employees and officers, and the Managing Directors and and/or any of their Affiliates (together, “GP Group”) shall have a Capital Commitment to the Partnership equal to at least 1% of the aggregate Capital Commitments of all Partners , on the same schedule as the Limited Partners’ capital contributions are made. The GP Group shall, on each date on which any Limited Partner makes a contribution to the capital of the Partnership, make a contribution to the capital of the Partnership such that the aggregate capital contributions made by the GP Group shall be equal to at least the product of the GP Group’s Partnership Percentage multiplied by the total contributable capital called by the Partners (including is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions Waterfall from description standard waterfall, 80/20. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions Waterfall from description standard waterfall, 80/20. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Borrowing from description (d) The Partnership will not borrow money to fund its investments in Portfolio Companies or otherwise, except for short term borrowing of up to 12 months, in order to satisfy working capital needs of the Partnership. Without the approval of the LPAC or a Majority in Interest of the Limited Partners, the aggregate principal amount of the Partnership's indebtedness for borrowed money shall not, at any time, exceed 15% of the Partnership’s Capital Commitments. The Partnership and the General Partner may pledge their rights under this Agreement, with respect to any such borrowing, including without limitation the right of the General Partner to issue drawdown notices and to enforce remedies against a defaulting Partner. Nothing herein shall derogate from the ability of Portfolio Companies to borrow money and/or provide guarantees. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Borrowing from description (d) The Partnership will not borrow money to fund its investments in Portfolio Companies or otherwise, except for short term borrowing of up to 12 months, in order to satisfy working capital needs of the Partnership. Without the approval of the LPAC or a Majority in Interest of the Limited Partners, the aggregate principal amount of the Partnership's indebtedness for borrowed money shall not, at any time, exceed 15% of the Partnership’s Capital Commitments. The Partnership and the General Partner may pledge their rights under this Agreement, with respect to any such borrowing, including without limitation the right of the General Partner to issue drawdown notices and to enforce remedies against a defaulting Partner. Nothing herein shall derogate from the ability of Portfolio Companies to borrow money and/or provide guarantees. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":true}
###Human: Determine if the accounting term Closings from description $30m fund cap. 1. Each such Additional Partner shall contribute, on or after the date of its admission or the acceptance by the General Partner of its Capital Commitment increase, an amount that results (after giving effect to the distributions in 6.2 (d)) in (i) the Additional Partner’s capital contribution (not including for this purpose any capital contribution with respect to the Management Fee) bearing the same ratio to its Capital Commitment as the capital contributions (not including for this purpose any capital contributions with respect to the Management Fee) of the other non-defaulting Limited Partners bear to their Capital Commitments, and (ii) the Additional Partner having contributed an amount with respect to the Management Fee as if its Capital Commitment (or with respect to an additional Capital Commitment by an existing Limited Partner, the additional Capital Commitment) had been in effect on the Initial Closing Date. Profits and losses will be specially allocated to A is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Closings from description $30m fund cap. 1. Each such Additional Partner shall contribute, on or after the date of its admission or the acceptance by the General Partner of its Capital Commitment increase, an amount that results (after giving effect to the distributions in 6.2 (d)) in (i) the Additional Partner’s capital contribution (not including for this purpose any capital contribution with respect to the Management Fee) bearing the same ratio to its Capital Commitment as the capital contributions (not including for this purpose any capital contributions with respect to the Management Fee) of the other non-defaulting Limited Partners bear to their Capital Commitments, and (ii) the Additional Partner having contributed an amount with respect to the Management Fee as if its Capital Commitment (or with respect to an additional Capital Commitment by an existing Limited Partner, the additional Capital Commitment) had been in effect on the Initial Closing Date. Profits and losses will be specially allocated to A is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term General Partner Clawback from description Please see 10.6 - it has been overhauled. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term General Partner Clawback from description Please see 10.6 - it has been overhauled. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description 1% cap, is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description 1% cap, is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term 6.1(d) from description Please see deletion regarding allocations at the end of 6.1(d). is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term 6.1(d) from description Please see deletion regarding allocations at the end of 6.1(d). is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term K-1 Timing from description 120 days is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term K-1 Timing from description 120 days is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description 11.3. Quarterly Management Updates. Beginning with the first fiscal quarter that ends after the Initial Closing Date, the General Partner shall use commercially reasonable efforts to transmit to the Limited Partners within sixty (60) days after the close of each fiscal quarter of each fiscal year, a management update regarding the Partnership's investment operations. Such reports shall not include any information that the General Partner determines the disclosure of which might result in the Partnership or the General Partner violating any obligation of confidentiality, whether pursuant to any contract or law. 11.4. Annual Report; Financial Statements of the Partnership. Beginning with the fiscal year that ends after the Initial Closing Date, the General Partner shall use commercially reasonable efforts to transmit to the Limited Partners 270 days after the close of each fiscal year of the Partnership, audited financial statements of the Partnership prepared in accordance with the is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description 11.3. Quarterly Management Updates. Beginning with the first fiscal quarter that ends after the Initial Closing Date, the General Partner shall use commercially reasonable efforts to transmit to the Limited Partners within sixty (60) days after the close of each fiscal quarter of each fiscal year, a management update regarding the Partnership's investment operations. Such reports shall not include any information that the General Partner determines the disclosure of which might result in the Partnership or the General Partner violating any obligation of confidentiality, whether pursuant to any contract or law. 11.4. Annual Report; Financial Statements of the Partnership. Beginning with the fiscal year that ends after the Initial Closing Date, the General Partner shall use commercially reasonable efforts to transmit to the Limited Partners 270 days after the close of each fiscal year of the Partnership, audited financial statements of the Partnership prepared in accordance with the is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Placement Fees/Broker-Dealer from description Are placement fees listed as a permissible fund expense: No But they are an organizational expense, subject to the 1% cap. Is the management fee offset by any such placement fees: No NOTE TO VCA - If there is (1) pushback from the customer on including the language and (2) the vehicle is an SPV, we can drop the request. If the vehicle is a Fund, we need to include the language. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Placement Fees/Broker-Dealer from description Are placement fees listed as a permissible fund expense: No But they are an organizational expense, subject to the 1% cap. Is the management fee offset by any such placement fees: No NOTE TO VCA - If there is (1) pushback from the customer on including the language and (2) the vehicle is an SPV, we can drop the request. If the vehicle is a Fund, we need to include the language. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Feeder Funds, Parallel Funds, AIVs and Subsidiaries (8.3(f)-(k)) from description Saving the spreadsheet and not pasting the provisions here. But we need to ensure, from a product perspective, that we can support these provisions. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Feeder Funds, Parallel Funds, AIVs and Subsidiaries (8.3(f)-(k)) from description Saving the spreadsheet and not pasting the provisions here. But we need to ensure, from a product perspective, that we can support these provisions. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Compulsory Withdrawal from description The General Partner may, by notice to any Limited Partner, force the sale of all or a portion of such Limited Partner’s interest or the withdrawal of a Limited Partner, and correspondingly reduce any unfunded Capital Commitment of such Limited Partner (on such terms as the General Partner reasonably determines), which may include leaving such Limited Partner obligated to make capital contributions with respect to Partnership Expenses, up to the amount of such Limited Partner's unfunded Capital Commitment at the time such unfunded Capital Commitment is so reduced, on such terms as the General Partner determines to be fair and reasonable, or take such other action as it determines to be fair and reasonable in the event that the General Partner determines or has reason to believe that: (i) such Limited Partner has attempted to effect a transfer of, or a transfer has occurred with respect to, any portion of such Limited Partner’s interest in violation of the Partnership Agreement, (ii) con is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Compulsory Withdrawal from description The General Partner may, by notice to any Limited Partner, force the sale of all or a portion of such Limited Partner’s interest or the withdrawal of a Limited Partner, and correspondingly reduce any unfunded Capital Commitment of such Limited Partner (on such terms as the General Partner reasonably determines), which may include leaving such Limited Partner obligated to make capital contributions with respect to Partnership Expenses, up to the amount of such Limited Partner's unfunded Capital Commitment at the time such unfunded Capital Commitment is so reduced, on such terms as the General Partner determines to be fair and reasonable, or take such other action as it determines to be fair and reasonable in the event that the General Partner determines or has reason to believe that: (i) such Limited Partner has attempted to effect a transfer of, or a transfer has occurred with respect to, any portion of such Limited Partner’s interest in violation of the Partnership Agreement, (ii) con is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Custom Closing Flow Requirements from description -Page 4: Bank Account Information - Nichole: we collect all the bank/wire info we need in our closing flow, so I think this is fine. -Page 4: Holding Interests for Another - Nichole: we address this through an LP rep that they've deleted on page 15. We do not ask a question on this in the closing flow, so I'd suggest stetting back the deleted rep and removing this question. If anyone can't make the rep, they can reach out to the GP and they will be accommodated as appropriate. -Exhibit F - Nichole: Not sure if this stems from anything specific to Israel, but we do not ask these questions or collect this info/documentation in our standard flow, other than what is asked for in part 1. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Custom Closing Flow Requirements from description -Page 4: Bank Account Information - Nichole: we collect all the bank/wire info we need in our closing flow, so I think this is fine. -Page 4: Holding Interests for Another - Nichole: we address this through an LP rep that they've deleted on page 15. We do not ask a question on this in the closing flow, so I'd suggest stetting back the deleted rep and removing this question. If anyone can't make the rep, they can reach out to the GP and they will be accommodated as appropriate. -Exhibit F - Nichole: Not sure if this stems from anything specific to Israel, but we do not ask these questions or collect this info/documentation in our standard flow, other than what is asked for in part 1. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description This fund has a somewhat unique structure. The fund manager will serve as fund lead and a management company that they are affiliated with will serve as "Sub-Advisor" in the documents. However, due to certain restrictions the Sub-Advisor entity is under in a foreign jurisdiction, the Sub-Advisor role in the fund will be meaningfully different. Rather than supervising the fund lead, the Sub-Advisor will provide advice to AngelList Advisors, who will supervise the fund lead and maintain discretion over the investment program. The exact structure may be subject to change to better accomodate the management company's regulatory goals. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description This fund has a somewhat unique structure. The fund manager will serve as fund lead and a management company that they are affiliated with will serve as "Sub-Advisor" in the documents. However, due to certain restrictions the Sub-Advisor entity is under in a foreign jurisdiction, the Sub-Advisor role in the fund will be meaningfully different. Rather than supervising the fund lead, the Sub-Advisor will provide advice to AngelList Advisors, who will supervise the fund lead and maintain discretion over the investment program. The exact structure may be subject to change to better accomodate the management company's regulatory goals. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term GP Commitment from description Anticipates about 2% of the fund. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term GP Commitment from description Anticipates about 2% of the fund. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description 2.5% over 10 years, paid quarterly in advance over 16 equal quarterly amounts. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee from description 2.5% over 10 years, paid quarterly in advance over 16 equal quarterly amounts. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Management Fee Offset from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period from description A quarter (typical rolling fund length) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Investment Period from description A quarter (typical rolling fund length) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description 12 years, two one year GP deferrals is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Term from description 12 years, two one year GP deferrals is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital from description No recycle (typical rolling fund treatment) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reinvestment of Capital from description No recycle (typical rolling fund treatment) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Capital Contributions from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Capital Contributions from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Distributions Waterfall from description Section 4.7 The distributions waterfall contemplates both carry step-ups and GP catchups, which I believe are now foundational terms. The language to effect both elements, however, was provided by the fund's counsel. We should review to ensure that our product works as this language lays out from both a product and a legal perspective. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Distributions Waterfall from description Section 4.7 The distributions waterfall contemplates both carry step-ups and GP catchups, which I believe are now foundational terms. The language to effect both elements, however, was provided by the fund's counsel. We should review to ensure that our product works as this language lays out from both a product and a legal perspective. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Borrowing from description Standard rolling fund treatment (and subject to VC fund limitations on borrowing) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Borrowing from description Standard rolling fund treatment (and subject to VC fund limitations on borrowing) is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Closings from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Closings from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term In-Kind Distributions from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term In-Kind Distributions from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term General Partner Clawback from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term General Partner Clawback from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term LP Clawback from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term LP Clawback from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Expenses from description Section 3.12 Other Expenses has been updated to include expenses of the Special Partner entity, which is atypical. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Fund Expenses from description Section 3.12 Other Expenses has been updated to include expenses of the Special Partner entity, which is atypical. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description Section 3.12 Other Expenses has been updated to include expenses of the Special Partner entity, which is atypical. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Organizational Expenses from description Section 3.12 Other Expenses has been updated to include expenses of the Special Partner entity, which is atypical. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Audit from description No audit required is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Audit from description No audit required is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Tax Sections from description A removal of 4.2.2 that I don't super understand. I believe the intention is for the Fund Lead not to be considered a partner in any regard because all carried interest will be paid to the special partner and the fund lead won't be making a commitment in their personal capacity (i.e., it will either come from the Sub-Advisor or an estate planning vehicle). The fund's somewhat atypical advisory structure is dictated in large part by a desire to avoid being subject to SG tax. In the event that it becomes subject, the fund will be expected to pay the tax liability incurred. We'll contemplate that in a specific risk factor for the fund but want to flag for you if we think we need to do more here. Counsel requested that Section 10.4.1 be updated away from TMP. I've done so on my working doc. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Tax Sections from description A removal of 4.2.2 that I don't super understand. I believe the intention is for the Fund Lead not to be considered a partner in any regard because all carried interest will be paid to the special partner and the fund lead won't be making a commitment in their personal capacity (i.e., it will either come from the Sub-Advisor or an estate planning vehicle). The fund's somewhat atypical advisory structure is dictated in large part by a desire to avoid being subject to SG tax. In the event that it becomes subject, the fund will be expected to pay the tax liability incurred. We'll contemplate that in a specific risk factor for the fund but want to flag for you if we think we need to do more here. Counsel requested that Section 10.4.1 be updated away from TMP. I've done so on my working doc. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":false,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Tax Distributions from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Tax Distributions from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term K-1 Timing from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term K-1 Timing from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Reports from description Standard rolling fund treatment is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Valuation from description Standard valuation policy (which they want to view) but they have also removed the prohibition on real estate asset or development businesses in the excluded opportunity definition in Exhibit A. Would we be able to provide reporting on these assets? is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Valuation from description Standard valuation policy (which they want to view) but they have also removed the prohibition on real estate asset or development businesses in the excluded opportunity definition in Exhibit A. Would we be able to provide reporting on these assets? is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":true,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description Delaware LP. GP is a Delaware LLC. There will also be a management company. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values.
###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}
###Human: Determine if the accounting term Fund Control Structure from description Delaware LP. GP is a Delaware LLC. There will also be a management company. is Foundational, Manual, or Non-Foundational and add a comment if appropriate. Output data as a minified JSON with boolean values. ###Assistant: {"foundational":true,"manual":false,"nonFoundational":false}