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It includes an amended and restated Delaware limited partnership agreement framework, incorporating legal restrictions on limited partnership interests, transfer limitations, and investor eligibility rules. The document outlines definitions and interpretation, general provisions, governance and management roles, investment and commitment mechanics, capital contributions, closings, distributions and allocations, reporting and records, indemnification, amendments, and governing law with dispute resolution.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/ilpa-model-limited-partnership-agreement-whole-of-fund-waterfall-july-2020/282531/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/ilpa-model-limited-partnership-agreement-whole-of-fund-waterfall-july-2020/282531.png","ImageObject",442,249,{"name":88,"@type":89},"Connor ","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-28","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":8},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What is the purpose of the ILPA Model Limited Partnership Agreement (Whole-of-Fund Waterfall)?","Question",{"text":108,"@type":109},"It serves as a starting point for forming a private equity buyout fund. The template is intended to be tailored to specific deal requirements.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How does the agreement restrict transfers and acquisition of limited partnership interests?",{"text":113,"@type":109},"Interests are acquired for investment only, and transfer is restricted unless done in compliance with applicable U.S. and non-U.S. securities laws and the agreement’s terms. 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This document is intended to serve as a starting point for forming a private equity buyout fund and should be tailored to meet your specific requirements. This document should not be construed as legal advice for any particular facts or circumstances.  \nAMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF  \n(a Delaware limited partnership)  \nDATED [  ], 20[  ]  \nTHE LIMITED PARTNERSHIP INTERESTS (“INTERESTS”) OF [] HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE OR ANY OTHER APPLICABLE U.S. OR NON-U.S. SECURITIES LAWS, IN EACH CASE IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT AND SUCH LAWS. THE INTERESTS MAY BE ACQUIRED FOR INVESTMENT ONLY, AND NEITHER THE INTERESTS NOR ANY PART THEREOF MAY BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH: (I) THE U.S. SECURITIES ACT, ANY APPLICABLE STATE SECURITIES LAWS AND ANY OTHER APPLICABLE SECURITIES LAWS AND (II) THE TERMS AND CONDITIONS OF THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP. THE INTERESTS WILL NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS AND THIS AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP. THEREFORE, PURCHASERS OF THE INTERESTS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.  \nTO NON-U.S. INVESTORS: IN ADDITION TO THE FOREGOING, BE ADVISED THAT THE INTERESTS HAVE NOT BEEN REGISTERED UNDER THE U. S. SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (OTHER THAN DISTRIBUTORS) UNLESS THE INTERESTS ARE REGISTERED UNDER THE U.S. SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT IS AVAILABLE. HEDGING TRANSACTIONS (WITHIN THE MEANING OF REGULATION S UNDER THE U.S. SECURITIES ACT) INVOLVING THE INTERESTS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE U. S. SECURITIES ACT.  \n1. DEFINITIONS AND INTERPRETATION ............................................................................. 1  \n2. GENERAL PROVISIONS ................................................................................................... 15  \n3. MANAGEMENT; LIMITED PARTNERS ...........................................................................21  \n4. COMMITMENTS ...............................................................................................................21  \n5. CLOSINGS.........................................................................................................................22  \n6. CAPITAL CONTRIBUTIONS .............................................................................................23  \n7. INVESTMENTS .................................................................................................................29  \n8. MANAGEMENT ................................................................................................................ 32  \n9. EXCLUSIVITY AND POTENTIAL CONFLICTS OF INTERESTS ......................................37  \n10. REMOVAL OF THE GENERAL PARTNER; TERMINATION OF THE FUND ...................39  \n11. KEY PERSON EVENT; SUSPENSION ...............................................................................42  \n12. GENERAL MEETING OF PARTNERS ...............................................................................43  \n13. ADVISORY COMMITTEE .................................................................................................43  \n14. DISTRIBUTIONS; ALLOCATIONS ...................................................................................46  \n15. BOOKS AND RECORDS; REPORTS TO LIMITED PARTNE","cbCaimGvQpWhhA4F","https://ap.wps.com/l/cbCaimGvQpWhhA4F","pdf",689229,75,"English","# 1. Definitions and Interpretation\n# 2. General Provisions\n# 3. Management; Limited Partners\n# 4. Commitments\n# 5. Closings\n# 6. Capital Contributions\n# 7. Investments\n# 8. Management\n# 9. Exclusivity and Potential Conflicts of Interests\n# 10. Removal of the General Partner; Termination of the Fund\n# 11. Key Person Event; Suspension\n# 12. General Meeting of Partners\n# 13. Advisory Committee\n# 14. Distributions; Allocations\n# 15. Books and Records; Reports to Limited Partners\n# 16. Exculpation and Indemnification\n# 17. Transfers; Substitute Partners\n# 18. Term, Dissolution and Winding Up of the Fund\n# 19. Amendments; Power of Attorney\n# 20. Miscellaneous\n# 21. Governing Law and Dispute Settlement\n# Schedule 1: Partner Commitments\n# Schedule 2: Investment Policy","[{\"question\":\"What is the purpose of the ILPA Model Limited Partnership Agreement (Whole-of-Fund Waterfall)?\",\"answer\":\"It serves as a starting point for forming a private equity buyout fund. The template is intended to be tailored to specific deal requirements.\"},{\"question\":\"How does the agreement restrict transfers and acquisition of limited partnership interests?\",\"answer\":\"Interests are acquired for investment only, and transfer is restricted unless done in compliance with applicable U.S. and non-U.S. securities laws and the agreement’s terms. Purchasers must bear investment risk for an indefinite period.\"},{\"question\":\"What topics are covered by the agreement’s main sections and schedules?\",\"answer\":\"It covers definitions and interpretation, provisions and governance, commitments, management and investments, capital contributions, closings, distributions and allocations, reporting, indemnification, transfers, fund term and wind-down, amendments, governing law, and includes schedules for partner commitments and investment policy.\"}]","ILPA Model Limited Partnership Agreement - Whole-of-Fund Waterfall - July 2020 | PDF",1789576801,26]