requires "enforce[ment of] the objectively reasonable interpretation that emerges." United Rentals, Inc. v. RAM Holdings, Inc., 937 A.2d 810, 835 (Del. Ch. 2007). As we now discuss, if the Arbitrator examines the LPA from the perspective of a third person with any knowledge of hedge funds, the practic

(Del. Ch. 1992) 48, 49 AT&T Corp. v. Lillis, 953 A.2d 241 (Del. 2008) 30 BASF Corp. v. POSM H Props. P'ship, LP, 09 Civ. 3608, 2009 WL 522721 (Del. Ch. March 3, 2009) 36 Chrysler Corp. v. Chaplake Holdings, Ltd., 822 A.2d 1024 (Del. 2003) 42 Citadel Holding Corp. v. Roven, 603 A.2d 818 (Del. 1

1997). A court determines whether an interpretation is "reasonable" from the perspective of a third party. Dittrick v. Chalfant, 948 A.2d 400, 406 (Del. Ch. 2007) ("[If] a reasonable third party would be unable to determine the meaning of certain contractual provisions, the agreement is considered ambi

Conclusion 31 EFTA00613905 TABLE OF AUTHORITIES CASES A.R. DeMarco Enters., Inc. v. Ocean Spray Cranberries, Inc., Page(s) 2002 WL 31820970 (Del. Ch. Nov. 26, 2002) 29 Anglo Amen Sec. Fund, L.P. v. S.R. Global Int'! Fund, L.P., 2006 WL 1494360 (Del. Ch. May 24, 2006) 20 BAE Sys. N. Am. Inc. v

k, to flush out the whole truth with the tools of adversary examination."). n21 See In re Caremark Intl Inc. Derivative Ling.. 698 A.2d 959. 967493 (Del. Ch. 1996) (quoted in In re Cifigroup Inc. Shareholder Derivative Litigation. 964 A2d. 106,122 (Del. Ch 2009)). The court states. For internal use only

k, to flush out the whole truth with the tools of adversary examination."). n21 See In re Caremark Intl Inc. Derivative Ling.. 698 A.2d 959. 967493 (Del. Ch. 1996) (quoted in In re Cifigroup Inc. Shareholder Derivative Litigation. 964 A2d. 106,122 (Del. Ch 2009)). The court states. For internal use only