Agreement of Limited Partnership有限合伙章程

-30-AgreementofLimitedPartnership有限合伙章程核心提示：AGREEMENTOFLIMITEDPARTNERSHIPOFAAA,L.P._________,_________,_________(M/D/Y)TABLEOFCONTENTSI.DEFINITIONSII.FORMATIONSection2.1PurposeSection2.2NameSection2.3PrincipalPlaceofBusinessSection2.4RegisteredAgentSection2.5TAGREEMENTOFLIMITEDPARTNERSHIPOFAAA,L.P._________,_________,_________(M/D/Y)TABLEOFCONTENTSI.DEFINITIONSII.FORMATIONSection2.1PurposeSection2.2NameSection2.3PrincipalPlaceofBusinessSection2.4RegisteredAgentSection2.5TermIII.CAPITALCONTRIBUTIONS;PARTNERS’ACCOUNTSSection3.1CapitalCommitmentsandContributionsSection3.2CapitalAccountsSection3.3RevieworModificationofCapitalCommitmentsSection3.4DefaultinCapitalCommitmentIV.BRIDGEFINANCINGSection4.1ExtensionofBridgeFinancingSection4.2FundingofBridgeFinancingSection4.3PermanentBridgeFinancingV.DISTRIBUTIONS;WITHHOLDING;VALUATION;ALLOCATIONSSection5.1WithdrawalofCapitalSection5.2DistributionsPriortoLiquidationSection5.3DistributionsUponLiquidationSection5.4DistributionsofSecuritiesinKindSection5.5WithholdingSection5.6ValuationSection5.7AllocationsofOperatingIncomeandLossandInvestmentGainandLossSection5.8SpecialProvisionsSection5.9SpecialProvisionsintheEventofBorrowingsoraSection754ElectionVI.MANAGEMENT;PAYMENTOFEXPENSESSection6.1DescriptionofGeneralPartnerSection6.2ManagementbytheGeneralPartnerSection6.3PowersofLimitedPartnersSection6.4ContinuityModeSection6.5PaymentofFeesandExpensesVII.OTHERACTIVITIESOFPARTNERS;COINVESTMENTOBLIGATIONSection7.1CommitmentofGeneralPartnerSection7.2OpportunitytoParticipateinFutureInvestmentVehiclesSection7.3DealingswithLimitedPartnersSection7.4CoInvestmentObligationSection7.5OtherCoInvestmentRightsSection7.6ForeignFundCoInvestmentSection7.7CoinvestmentsbytheOtherParticipatingFundsVIII.ADMISSIONS;ASSIGNMENTS;REMOVALANDWITHDRAWALSSection8.1AdmissionofAdditionalGeneralPartnerSection8.2AdmissionofAdditionalLimitedPartnersSection8.3AssignmentofPartnershipInterestSection8.4RestrictionsonTransferSection8.5RemovalofGeneralPartnerSection8.6WithdrawalsSection8.7ERISAMattersIX.LIABILITYOFPARTNERS;INDEMNIFICATIONSection9.1LiabilityofGeneralPartnerSection9.2LiabilityofLimitedPartnersSection9.3IndemnificationoftheGeneralPartnerandLimitedPartnersSection9.4PaymentofExpensesX.ACCOUNTINGFORTHEPARTNERSHIP;REPORTSSection10.1AccountingforthePartnershipSection10.2BooksandRecordsSection10.3ReportstoPartnersSection10.4AnnualMeetingXI.DISSOLUTIONANDWINDINGUPSection11.1TerminationSection11.2WindingUpSection11.3LiquidatingTrustXII.MISCELLANEOUSSection12.1RegistrationofSecuritiesSection12.2EntireAgreementSection12.3Voting;AmendmentsSection12.4SeverabilitySection12.5NoticesSection12.6HeirsandAssigns;ExecutionSection12.7WaiverofPartitionSection12.8PowerofAttorneySection12.9HeadingsSection12.10FurtherActionsSection12.11Gender,EtcSection12.12TaxMattersPartnerSection12.13ApplicableLawSchedule1AGREEMENTOFLIMITEDPARTNERSHIPOFAAA,L.P.AGREEMENTOFLIMITEDPARTNERSHIPdatedasof_________,_________,_________(M/D/Y)(theAgreement),byandamongAAA,LLC(referredtoastheGeneralPartner)andtheundersignedlimitedpartners(togetherwithanyotherlimitedpartnerwhichmayhereafterbeadmittedreferredtoastheLimitedPartners).TheGeneralPartnerandtheLimitedPartnersaresometimescollectivelyreferredtohereinasthePartnersandindividuallyasaPartner.DefinitionsofcertaintermsusedinthisAgreementarecontainedinArticleI.AGREEMENTInconsiderationofthepremisesandforothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,thepartiesheretoagreeasfollows:I.DEFINITIONSAsusedherein,thefollowingtermshavethefollowingmeanings:AAA:AAA,LLC,a_________(state)limitedliabilitycompany,oranysuccessorgeneralpartnerofthePartnership.AccreditedInvestor:AninvestorwhichqualifiesasanaccreditedinvestorasdefinedinRegulationSection230.501ofRegulationDpromulgatedundertheSecuritiesAct.Act:The_________(state)RevisedUniformLimitedPartnershipAct,asamendedfromtimetotime.AdjustedCapitalAccountDeficit:WithrespecttoanyPartner,thedeficitbalance,ifany,insuchPartner’sCapitalAccountasoftheendoftherelevantfiscalyearorotheraccountingperioddeterminedafter(i)creditingtosuchCapitalAccountanyamountswhichsuchPartnerisobligatedtorestoretheretohereunderorisdeemedtobeobligatedtorestoretheretopursuanttothepenultimatesentencesofSections1.7042(g)(1)and1.7042(i)(5)oftheTreasuryRegulationsand(ii)debitingtosuchCapitalAccounttheitemsdescribedinSections1.7041(b)(2)(ii)(d)(4),(5)and(6)oftheTreasuryRegulations.TheforegoingdefinitionofAdjustedCapitalAccountDeficitisintendedtocomplywiththeprovisionsofSection1.7041(b)(2)(ii)(d)oftheTreasuryRegulationsandshallbeinterpretedconsistentlytherewith.Affiliates:Withrespecttoanyperson,anyofficer,director,employeeorgeneralpartnerof,oranypersonthatdirectlyorindirectlythroughoneormoreintermediariescontrols,iscontrolledbyorisundercommoncontrolwith,suchperson.TheGeneralPartneranditsindividualmembersshallallbedeemedAffiliatesofoneanother.Assignee:AsdefinedinSection8.3.BreakupFee:Anyfee,reimbursementorotherformofcompensationpayablebyathirdpartyasaresultofthefailuretoconsummateaninvestment.BridgeFinancing:AsdefinedinSection4.1.BusinessDay:Anyday,excludingSaturday,SundayandanyotherdayonwhichcommercialbanksinBoston,Massachusettsareauthorizedorrequiredbylawnottobeopenforbusiness.BBB:BBB,Inc.,a_________(state)corporation.BBBFunds:ThePriorFundsandanyothercorporation,partnershiporlimitedliabilitycompanyorganizedbyBBBinordertofacilitateitscoinvestmentobligationunderSection7.4hereof.CapitalAccount:AsdefinedinSection3.2.CapitalCommitment:AsdefinedinSection3.1.CapitalContribution:AsdefinedinSection3.1.CapitalContributionAllocabletoLiquidatedPortfolioSecurities:WithrespecttoanyPartnerorclassofPartnersasofanytimeofdetermination,thatportionoftheCapitalContributionsofsuchPartnerorPartnersequaltothecostbasisofPortfolioSecuritiesthathavebeenliquidatedorotherwisedisposedof.CapitalContributionsAllocabletoLiquidatedPortfolioSecuritiesshallinclude(i)theunreimbursedcosttothePartnershipofacquiring,holdingandsellingPortfolioSecurities,(ii)anyDeemedPortfolioLossand(iii)thatportionoftheexpensesofthePartnershipdescribedinSection6.5.A(1)thatisequaltotheratioofthecostbasisofsuchliquidatedPortfolioSecuritytothetotalCapitalCommitmentsofthePartnership(provided,however,thatinthecaseofthelastinvestmentbythePartnershipinaPortfolioSecurity,anysuchexpensesthathavenotpreviouslybeenallocatedshallbeallocatedintheirentiretytosuchlastinvestmentforpurposesofdeterminingtheCapitalContributionofthePartnersallocabletosuchPortfolioSecurity).ForthepurposesofSection5.2B(1)CapitalContributionsAllocabletoLiquidatedPortfolioSecuritiesshallbereducedbyanyDeemedPortfolioLosspreviouslydistributedwithrespecttothatsecuritypursuanttoSection5.2B(1).CapitalContributionAllocabletoPortfolioSecurities:WithrespecttoanyPartnerorclassofPartnersasofanytimeofdetermination,(i)thatportionoftheCapitalContributionsofsuchPartnerorPartnersthathavebeeninvestedinPortfolioSecurities,includingtheunreimbursedcosttothePartnershipofacquiring,holdingandsellingPortfolioSecurities(totheextentnotpaidbybreakupandotherfeesasprovidedinSections6.5.Eand6.5.F),and(ii)thatportionoftheexpensesofthePartnershipdescribedinSection6.5.A(1)thatisequaltotheratioofthecostbasisofPortfolioSecuritiestothetotalCapitalCommitmentsofthePartnership(provided,however,thatinthecaseofthelastinvestmentbythePartnershipinaPortfolioSecurity,anysuchexpensesthathavenotpreviouslybeenallocatedshallbeallocatedintheirentiretytosuchlastinvestmentforpurposesofdeterminingtheCapitalContributionofthePartnersallocabletosuchPortfolioSecurity).Code:TheInternalRevenueCodeof1986,asamended.CoinvestmentObligation:AsdefinedinSection7.4.CommittedInvestment:AninvestmentinPortfolioSecuritiesinwhichthePartnershiphadanobligationtoinvestasofthelastdayoftheCommitmentPeriodpursuanttoeither(i)acommitmenttomakeaninitialinvestmentinaPortfolioCompanyor(ii)acommitmentmadeatthetimeoftheinitialinvestmentinaPortfolioCompany.CommitmentPeriod:TheperiodfromtheInitialClosingDatetofouryearsfromsuchdate.ContinuityMode:StatuswhichtheLimitedPartnerscanimposeuponthePartnershipintheeventofaTriggeringEventasdescribedinSection6.4.DeemedPortfolioLoss:AsdefinedinSection5.2.D.DefaultingPartner:AsdefinedinSection3.4.DissolutionSale:SalesandliquidationsbyoronbehalfofthePartnershipofallorsubstantiallyallofitsassetsinconnectionwithorincontemplationofthewindingupofthePartnership.DOLRegulations:TheUnitedStatesDepartmentofLaborRegulationsasineffectfromtimetotime.EightyPercent(80%)inInterestoftheLimitedPartners:Atanytime,thoseLimitedPartnerswhoseaggregatePercentageofContributedCapitalequalsorexceedseightypercent(80%).ERISA:TheEmployeeRetirementIncomeSecurityActof1974asamended.ERISAAffiliate:Anyplansponsor(withinthemeaningofSection3(16)(B)ofERISA)withrespecttoanERISAPartner,andanyotherpersonsthatwouldbeaggregatedwithanyplansponsorandtreatedasasingleemployerforpurposesofSection414oftheCodeorTitleIofERISA.ERISAPartner:ALimitedPartnerthatiseither(a)anemployeebenefitplanasdefinedinSection3(3)ofERISAwhichissubjecttoTitleIofERISA(aftertakingintoaccountSection4ofERISA),or(b)aplandescribedinSection4975(e)(1)oftheCode(aftertakingintoaccountSection4975(g)oftheCode).EscrowAccount:AsdefinedinSection5.2.F.FinancialInstitution:Abank,savingsinstitution,trustcompany,insurancecompany,pensionorprofitsharingtrust,orsimilarentitywhichisamemberofanygroupofsuchpersonshavingassetsofatleast$_________,orotherentity(otherthananindividual)asubstantialpartofwhosebusinessconsistsofinvestingin,purchasingorsellingthesecuritiesofothers.FollowonInvestment:Aninvestment,otherthanaCommittedInvestment,inPortfolioSecuritiesofaPortfolioCompanyinwhichthePartnershipholds,immediatelypriorthereto,PortfolioSecurities.ForeignFund:AnylimitedpartnershiporotherinvestmentvehicleformedororganizedbytheGeneralPartneroranAffiliateoftheGeneralPartneranddesignedforinvestorsformedororganizedinajurisdictionotherthantheUnitedStatesoranystate,districtorterritorythereof,whichwillcoinvestwiththePartnershipintheacquisitionofPortfolioSecurities.GeneralPartner:AAA,LLCoranysuccessorgeneralpartnerofthePartnership.IncentiveDistributions:AsdefinedinthelastparagraphofSection5.2.B.Indemnitees:AsdefinedinSection9.3.InitialClosingDate:ThefirstdateonwhichanyLimitedPartner,otherthantheInitialLimitedPartner,isadmittedtothePartnership.InvestmentCompanyAct:TheInvestmentCompanyActof1940,asamended.InvestmentGain:ForanyfiscalyearorotheraccountingperiodofthePartnership,theamount,ifany,bywhichthePartnership’sgrosstaxableincomeandgainswithrespecttointerestsinPortfolioCompaniesexceedthePartnership’sgrosstaxabledeductionsandlosseswithrespecttosuchinterestsinPortfolioCompanies.ThefollowingamountsshallbeincludedindeterminingInvestmentGain:(i)anyinterest,dividendorsimilardistributionwithrespecttoPortfolioSecurities,and(ii)anyandallpaymentsarisingoutofthedispositionofPortfolioSecurities,includingwithoutlimitationanyoptionpayment,lumpsumpayment,principalorinterestpaidorimputedunderanypromissorynote,andanypaymentmadepursuanttoaroyaltyorearnoutarrangementorsimilarformofcontingentpayment.CalculationsofInvestmentGainshallbeconsistentwithcalculationsmadeforfederalincometaxpurposes,exceptthatInvestmentGainshallbedetermined(w)bytakingintoaccountunrealizedgainsandlosseswithrespecttoPortfolioSecuritiesthatarerevaluedpursuanttothepenultimatesentenceofSection3.2ordistributedinkindhereunder,(x)withreferencetothebookvalueratherthantheadjustedtaxbasisofanyPortfolioSecuritythathasbeenrevaluedpursuanttothepenultimatesentenceofSection3.2,(y)withoutregardtoanyamountsthatarespeciallyallocatedpursuanttoSections5.8.and5.9,and(z)withoutgivingeffecttoanyadjustmentsmadepursuanttoSections743or734oftheCode.Notwithstandingtheforegoing,InvestmentGainshallnotinclude(i)interestordividendsreceivedfrom,orgainreceiveduponthedispositionof,TemporaryBridgeFinancingorPermanentBridgeFinancing,(ii)theamountofanyfeespaidtothePartnershippursuanttoSection6.5.E,and(iii)theamountofanyfeespaidtothePartnershippursuanttoSection6.5.F.InvestmentLoss:ForanyfiscalyearorotheraccountingperiodofthePartnership,theamount,ifany,bywhichthePartnership’sgrosstaxabledeductionsandlosseswithrespecttointerestsinPortfolioCompaniesexceedthePartnership’sgrosstaxableincomeandgainswithrespecttointerestsinPortfolioCompanies.CalculationsofInvestmentLossshallbeconsistentwithcalculationsmadeforfederalincometaxpurposesandwiththecalculationofInvestmentGain.InvestmentReceipts:AmountsreceivedbythePartnershipwithrespectto(includingpaymentsanddistributionsonandproceedsofdispositionsof)interestsinandassetsofPortfolioCompanies,netofamountsnecessarytopayallexpenses,debtsandobligationsofthePartnershiportoestablishreservestherefor.InvestmentReceiptsshallexclude(i)interestordividendsreceivedfrom,orgainreceiveduponthedispositionof,TemporaryorPermanentBridgeFinancing,(ii)theamountofanyfeespaidtothePartnershippursuanttoSection6.5.E,and(iii)theamountofanyfeespaidtothePartnershippursuanttoSection6.5.F.Liabilities:AsdefinedinSection9.3.LiquidatedPortfolioSecurities:PortfolioSecuritiesthathavebeenliquidatedorotherwisedisposedof.LimitedPartners:Asdefinedintherecitals.MajorityinInterestofLimitedPartners:Atanytime,thoseLimitedPartnerswhoseaggregatePercentageofContributedCapitalexceedsfiftypercent(50%).ManagementCompany:CCC,LLC,a_________(state)limitedliabilitycompany.ManagementContract:ThemanagementcontractwiththeManagementCompanyintheformattachedheretoasExhibitA.ManagementFee:ThemanagementfeepayablebythePartnershiptotheManagementCompanypursuanttotheManagementContract.MarketableSecurities:Securities(i)thatarefreelytradeablepursuanttoaregistrationundertheSecuritiesActof1933,asamended,oranexemptiontherefrom,(ii)thatimmediatelyaftergivingeffecttotheirdistributionwillnotbesubjecttoanycontractualrestrictionontransfer,(iii)thatwillbetradedonanationalsecuritiesexchangeorreportedthroughtheNationalAssociationofSecuritiesDealersAutomatedQuotationSystem,and(iv)thatmaybesoldwithoutregardtovolumelimitations.NetInvestmentGain:Asofanytimeofdetermination,theamount,ifany,bywhichthesumoftheInvestmentGainsforallfiscalyearsandotheraccountingperiodsofthePartnershipexceedsthesumoftheInvestmentLossesforallfiscalyearsandotheraccountingperiodsofthePartnership.NetOperatingIncome:Asofanytimeofdetermination,theamount,ifany,bywhichthesumoftheOperatingIncomeforallfiscalyearsandotheraccountingperiodsofthePartnershipexceedsthesumoftheOperatingLossesforallfiscalyearsandotheraccountingperiodsofthePartnership.OperatingIncome(Loss):ForanyfiscalyearorotheraccountingperiodofthePartnershiptheexcess(deficiency)ofallincomeandgainsofthePartnership,fromwhateversourcederived,overthelossesandexpensesbornebythePartnership(includingtheManagementFee),includinganyincome,gain,lossesorexpensesrelatingtoTemporaryBridgeFinancingorPermanentBridgeFinancingbutexcludingInvestmentGain(Loss)allascalculatedforfederalincometaxpurposes,exceptthatOperatingIncome(Loss)shallbecomputedwiththefollowingadjustments:(i)incomeofthePartnershipthatisexemptfromfederalincometaxandthatisnototherwisetakenintoaccountincomputingincomeorlossshallbeaddedtoOperatingIncome(Loss);(ii)expendituresofthePartnershipthatareneitherdeductibleforFederalincometaxpurposesnorallowableasadditionstothebasisofPartnershipproperty(orthataresotreatedpursuanttoSection1.704(b)(2)(iv)(i)oftheTreasuryRegulations)shallbesubtractedfromsuchtaxableincomeorloss;and(iii)thereshallnotbetakenintoaccountanyitemsthatarespeciallyallocatedpursuanttoSections5.8.A,5.8.C,5.8.Dand5.9.OperatingReceipts:AllamountsreceivedbythePartnershipotherthanInvestmentReceipts,netofamountsnecessarytopayallexpenses,debtsandobligationsofthePartnershiportoestablishreservestherefor.Partners:Asdefinedintherecitalshereof.Partnership:AAA,L.P.,a_________(state)limitedpartnership.PercentageofContributedCapital:InthecaseofeachPartner,exceptasprovidedinSections3.3and3.4,theCapitalContributionsofsuchPartnerdividedbythesumoftheCapitalContributionsofallPartners.PermanentBridgeFinancing:AsdefinedinSection4.3.PortfolioCompanies:CompaniesinwhichthePartnershipmakesinvestmentsinaccordancewiththeprovisionsofthisAgreement.PortfolioSecurities:EquityandequityrelatedsecuritiesofPortfolioCompaniesinwhichthePartnershipinvestsinaccordancewiththeprovisionsofthisAgreement.TemporaryBridgeFinancingandPermanentBridgeFinancingshallnotbeconsideredtobePortfolioSecuritiesexceptforthepurposeofcalculatingtheamountofInvestmentReceiptstobedistributedandallocatedpursuanttoSections5.2.B(2)and5.7.B(4).PriorFunds:DDDI,LLCandDDDII,LLC.ProhibitedTransaction:Anonexemptprohibitedtransaction(withinthemeaningofSection406ofERISAorSection4975oftheCode).RemovalDateSecurities:AsdefinedinSection8.5.SecuritiesAct:TheSecuritiesActof1933,asamended.SpecialLimitedPartner:AsdefinedinSection8.5.SubstituteLimitedPartner:AsdefinedinSection8.3.SubscriptionAgreement:EachoftheseveralSubscriptionAgreementsbetweenthePartnershipandtheLimitedPartners.TargetAllocation:WithrespecttoanyPartnerasofthecloseofanyfiscalyearorotheraccountingperiodofthePartnershipforwhichanallocationofInvestmentLossistobemadepursuanttoSection5.7.C(1),theamountofNetInvestmentGainthatwouldthenbeallocatedtosuchPartnerif(i)theNetInvestmentGainforallperiodsthroughthecloseofsuchfiscalyearorotherperiodwereequaltotheNetInvestmentGainasofthecloseoftheimmediatelyprecedingfiscalyearorotheraccountingperiodofthePartnershiplesstheamountofInvestmentLosstobethenallocatedpursuanttoSection5.7.C(1)and(ii)theNetInvestmentGainasthencalculatedpursuanttoclause(i)werethenallocatedtothePartnerspursuanttoSections5.7.B(3),5.7.B(4)and5.7.B(5)asiftherehadbeennopriorallocationsofInvestmentGainorInvestmentLoss.TaxExemptPartner:AnyindividualretirementaccountortrustformedaspartofaKeoghorcorporatepensionorprofitsharingplanqualifiedunderSection401(a)oftheCode,anyorganizationdescribedinSection501(c)oftheCodeandanygovernmentalentitytaxexemptunderSection115oftheCode,oranyentitywhichhasninetypercent(90%)ormoreofitsequityinterestsownedbyoneormoreentitiesofthetypereferredtoabove.TemporaryBridgeFinancing:BridgeFinancingthathasnotbeenconvertedintoPermanentBridgeFinancingpursuanttoSection4.3.TemporaryInvestments:(i)InvestmentsindirectobligationsoftheUnitedStatesofAmerica,orobligationsofanyinstrumentalityoragencythereofpaymentofprincipalandinterestofwhichisunconditionallyguaranteedbytheUnitedStatesofAmerica,allofsuchobligationshavingafinalmaturitynotmorethanoneyearfromthedateofissuethereof;(ii)InvestmentsincertificatesofdepositorrepurchaseagreementshavingafinalmaturitynotmorethanoneyearfromthedateofacquisitionthereofissuedbyanybankortrustcompanyorganizedunderthelawsoftheUnitedStatesofAmericaoranystatethereofhavingcapitalandsurplusofatleast$100million;(iii)Investmentsinmoneymarketfunds,providedthatsuchfundsinvestprimarilyingovernmentsecuritiesdescribedinsubparagraph(i)orinmunicipalobligationsthatreceivearatingofAAAorAA,orAaaorAafromanationallyrecognizedfinancialratingservicesuchasStandardPoor’sCorporationorMoody’sInvestorsService,Inc.,respecti