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r such period). 4.2.3 Notwithstanding anything to the contrary in this Agreement, the Manager may, in its sole discretion, reduce, waive or rebate the Carried Interest with respect to any Member, including, without limitation, Affiliated Members, in each case without entitling any other Member to the same or simil
ate, the Carried Interest calculation shall be made (in accordance with Section 4.2.1) as a percentage of the total dollar amount of the portion of Reapportionable Proceeds for such period that represents net investment profits (and not as a percentage of annualized net investment return for such period). 4.2.3 Notwit
r such period). 4.2.3 Notwithstanding anything to the contrary in this Agreement, the Manager may, in its sole discretion, reduce, waive or rebate the Carried Interest with respect to any Member, including, without limitation, Affiliated Members, in each case without entitling any other Member to the same or simil
ffiliated Member, until such Unaffiliated Member's Unpaid Preferred Return is reduced to zero (0); (c) third: (I) until the sum of the remaining Reapportionable Proceeds and the cumulative amount of all distributions made to such Unaffiliated Member pursuant to this clause (c)(I) is equal to the Hurdle Amount 11 E
r such period). 4.2.3 Notwithstanding anything to the contrary in this Agreement, the Manager may, in its sole discretion, reduce, waive or rebate the Carried Interest with respect to any Member, including, without limitation, Affiliated Members, in each case without entitling any other Member to the same or sim
ffiliated Member, until such Unaffiliated Member's Unpaid Preferred Return is reduced to zero (0); (c) third: (I) until the sum of the remaining Reapportionable Proceeds and the cumulative amount of all distributions made to such Unaffiliated Member pursuant to this clause (c)(I) is equal to the Hurdle Amount 11 E
Entities connected to both the Carried Interest and Reapportionable Proceeds

New York
LOCATION
the Cayman Islands
LOCATIONLiquidator
ORGANIZATIONArticles IV
ORGANIZATIONthe U.S. Bank Holding Company Act
ORGANIZATIONUnaffiliated
ORGANIZATIONUnaffiliated Member's
ORGANIZATION
Eric Trump
PERSONUnpaid Preferred Return
ORGANIZATIONTreasury Regulations
ORGANIZATIONthe Tender Offer
ORGANIZATIONBHC Act
ORGANIZATIONthe Confidential Offering Memorandum
ORGANIZATIONSections of this Agreement
ORGANIZATIONEric Meyer
PERSONWNL Limited
ORGANIZATIONthe Limited Liability Companies Law
ORGANIZATIONLong Term Insured Credit Fund
ORGANIZATIONthe Register of Limited Liability Companies
ORGANIZATIONCapital Commitments and
ORGANIZATION