ject to special rules under U.S. federal income tax laws (such as banks, dealers in securities, life insurance companies, tax-exempt Investors and non-U.S. Investors), with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inve

bject to special rules under U.S. federal income tax laws, such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a "tax home" in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situati

ject to special rules under U.S. federal income tax laws (such as banks, dealers in securities, life insurance companies, tax-exempt Investors and non-U.S. Investors), with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inve

bject to special rules under U.S. federal income tax laws, such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a "tax home" in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situati

ject to special rules under U.S. federal income tax laws (such as banks, dealers in securities, life insurance companies, tax-exempt Investors and non-U.S. Investors), with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inve

bject to special rules under U.S. federal income tax laws, such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a "tax home" in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situati

ject to special rules under U.S. federal income tax laws (such as banks, dealers in securities, life insurance companies, tax-exempt Investors and non-U.S. Investors), with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inve

bject to special rules under U.S. federal income tax laws, such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a "tax home" in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situati

ject to special rules under U.S. federal income tax laws (such as banks, dealers in securities, life insurance companies, tax-exempt Investors and non-U.S. Investors), with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inve

bject to special rules under U.S. federal income tax laws, such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a "tax home" in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situati

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

ubject to special rules under U.S. federal income tax laws. such as non-U.S. governments, trusts, former U.S. citizens or residents. and individual non-U.S. Investors that have a 'tax home' in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situatio

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

for on-shore investors, an offshore fund and possibly other investment vehicles structured to meet the specific needs of certain U.S. Investors and non-U.S. Investors, all feeding into a Master Fund, Blue Mountain Credit Alternatives Master Fund, L.P., a Cayman Islands exempted limited partnership. The PPM states

ubject to special rules under U.S. federal income tax laws. such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a 'tax home' in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situatio

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

ubject to special rules under U.S. federal income tax laws. such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a 'tax home' in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situatio

ubject to special rules under U.S. federal income tax laws. such as non-U.S. governments, trusts, former U.S. citizens or residents. and individual non-U.S. Investors that have a 'tax home' in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situatio

ubject to special rules under U.S. federal income tax laws. such as non-U.S. governments, trusts, former U.S. citizens or residents, and individual non-U.S. Investors that have a 'tax home' in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situatio

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

bject to special rules under U.S. federal income tax laws (such as banks, dealers in securities. life insurance companies, tax-exempt Investors and non-U.S. Investors). with reference to any special issues that investment in the Fund may raise for such persons. The activities of an Investor unrelated to such Inves

ubject to special rules under U.S. federal income tax laws. such as non-U.S. governments, trusts, former U.S. citizens or residents. and individual non-U.S. Investors that have a 'tax home' in the U.S. Non-U.S. Investors are urged to consult with their own tax advisers with reference to their specific tax situatio