ship and the capital commitments of the Parallel Funds (the "Combined Capital Commitments") to the Partnership shall be formed or organized without the Advisory Committee's prior approval. (b) The term "Affiliated Party", as used herein, means any Managing Member, the General Partner, the Management Company, or any me

nts that exceed 30% of the Combined Confidential & Trade Secret EFTA00810429 VALAR 24 Private Placement Memorandum Capital Commitments without the Advisory Committee's approval. For the avoidance of doubt, neither Peter Thiel nor any Thiel Persons shall be required to devote any time to the affairs of the Manageme