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EFTA01384645
be established that have different terms (including more favorable terms) than those with respect to the Partnership described herein (including a Levered Feeder Fund (as defined below)). The master-feeder fund structure—in particular the existence of multiple Feeder Funds investing in the same master fund—presen
EFTA01384649
eral Partner may establish one or more other investment vehicles to accommodate legal, regulatory, or other issues of certain investors (including a Levered Feeder Fund) (each, a "Feeder Fund Entity"). Each such Feeder Fund Entity shall acquire an interest in each Underlying Fund, as appropriate. Each Feeder Fund E
EFTA01384675
s for certain Limited Partners or the Management Company may establish additional Feeder Funds that provide for these differing rights (including a Levered Feeder Fund), without providing notice to, or receiving consent from, the Limited Partners. Certain of such waivers, modifications or grants of special or more