SCP Private Equity Partners II, L.P. - Limited Partnership Agreement

Sep 16, 2026

Limited Partnership Agreement for SCP Private Equity Partners II, L.P. (a Delaware limited partnership) defining partnership structure, governing roles, and decision-making mechanisms. The agreement sets out general partner authority and duties, limited partner rights and liability limits, investment committee and advisory committee functions, expense and management fee provisions, capital contribution obligations, accounts and allocation of profits and losses, and detailed distribution and tax-related distribution rules. It also addresses conflicts of interest, ERISA matters, partner changes, and various limitations affecting investment participation.

LanguageEnglish

CategoryGeneral

FormatPDF

Pages62

Reading Time22 min

AccessFree to download

ARTICLE I. DEFINITIONS

ARTICLE II. ORGANIZATION

SECTION 2.1 Formation of Limited Partnership

SECTION 2.2 Firm Name; Registered and Principal Office

SECTION 2.3 Purpose

SECTION 2.4 Powers

ARTICLE II. GENERAL PARTNER

SECTION 3.1 Name, Address and Subscription

SECTION 3.2 Management and Control of the Partnership

ARTICLE IV. LIMITED PARTNERS

SECTION 4.1 Names, Addresses and Subscriptions

SECTION 4.2 Liability

SECTION 4.3 No Control of Partnership; Other Limitations

ARTICLE V. EXPENSES; MANAGEMENT FEE

SECTION 5.1 Payment of Costs and Expenses

SECTION 5.2 Management Fee

ARTICLE VI. INVESTMENT COMMITTEE AND LIMITED PARTNERS ADVISORY COMMITTEE

SECTION 6.1 Appointment and Vacancies

SECTION 6.3 Duties

SECTION 6.4 Voting; Rules and Procedures

ARTICLE VII. ADDITIONAL LIMITED PARTNERS

SECTION 7.1 Additional Subscriptions After Initial Closing

SECTION 7.2 Accession to Agreement

ARTICLE VIII. CAPITAL OF THE PARTNERSHIP

SECTION 8.1 Capital Contributions

SECTION 8.5 Key-Man Triggering Event

ARTICLE IX. ACCOUNTS

SECTION 9.1 Contributions Accounts

SECTION 9.4 Compliance With Treasury Regulations

ARTICLE X. ALLOCATIONS

SECTION 10.1 Allocation of Profits

SECTION 10.7 Tax Allocations

ARTICLE XI. DISTRIBUTIONS

SECTION 11.1 Tax Distributions

SECTION 11.3 Priority of Distributions

# LIMITED PARTNERSHIP AGREEMENT OF SCP PRIVATE EQUITY PARTNERS II,L.P. (A Delaware Limited Partnership) # TABLE OF CONTENTS Page ARTICLEI. DEFINITIONS …………………………………………………………………………………………………………………………1 ARTICLEII. ORGANIZATION…………………………………………………………………………………………………………………9 SECTION 2.1 Formation of Limited Partnership……………………………………………………………………………………9 SECTION 2.2 Firm Name; Registered and Principal Office………………………………………………………10 SECTION 2.3 Purpose …………………………………………………………………………………………………………………………………10 SECTION 2.4 Powers……………………………………………………………………………………………………………………………………10 ARTICLE II. GENERAL PARTNER ……………………………………………………………………………………………………11 SECTION 3.1 Name, Address and Subscription …………………………………………………………………………………11 SECTION 3.2 Management and Control of the Partnership…………………………………………………………11 SECTION 3.3 Powers…………………………………………………………………………………………………………………………11 SECTION 3.4 Certificate of Limited Partnership…………………………………………………………………………………12 SECTION 3.5 Authority and Duty ……………………………………………………………………………………………………………12 SECTION 3.6 Salaries;Special Income …………………………………………………………………………………………………12 SECTION 3.7 Co-Investment with Parallel Funds or Limited Partners……………………………………13 SECTION 3.8 Other Activities……………………………………………………………………………………………………………………14 SECTION 3.9 Avoidance of Conflicts of Interest………………………………………………………………………………14 SECTION 3.10 Duty of Care ………………………………………………………………………………………………………………………16 SECTION 3.11 Investment Limitations …………………………………………………………………………………………………17 SECTION 3.12 Unrelated Business Taxable Income…………………………………………………………………………18 SECTION 3.13 ERISA Matters…………………………………………………………………………………………………………………18 SECTION 3.14 Removal and Replacement of General Partner……………………………………………………19 SECTION 3.15 Exclusion from Investments ………………………………………………………………………………………20 SECTION 3.16 Divestment from Investments……………………………………………………………………………………21 SECTION 3.17 Media and Common Carrier Companies …………………………………………………………………21 ARTICLEIV. LIMITED PARTNERS………………………………………………………………………………………………………22 SECTION 4.1 Names, Addresses and Subscriptions …………………………………………………………………………22 SECTION 4.2 Liability…………………………………………………………………………………………………………………………………22 SECTION 4.3 No Control of Partnership;Other Limitations ………………………………………………………23 SECTION 4.4 Death,Dissolution or Bankruptcy…………………………………………………………………………………23 ARTICLEV. EXPENSES;MANAGEMENT FEE………………………………………………………………………23 SECTION 5.1 Payment of Costs and Expenses …………………………………………………………………………………23 SECTION 5.2 Management Fee…………………………………………………………………………………………………………………24 ARTICLE VI. INVESTMENT COMMITTEE AND LIMITED PARTNERS ADVISORY COMMITTEE…………………………………………………………………………………………………………………25 SECTION 6.1 Appointment and Vacancies ……………………………………………………………………………………………25 SECTION 6.2 Meetings of the Investment Committee and Limited Partners Advisory Committee…………………………………………………………………………………………………………………………………………………26 SECTION 6.3 Duties ……………………………………………………………………………………………………………………………………26 SECTION 6.4 Voting;Rules and Procedures…………………………………………………………………………………………26 SECTION 6.5 Duty of Care …………………………………………………………………………………………………………………………26 ARTICLE VII. ADDITIONAL LIMITED PARTNERS ……………………………………………………………………27 SECTION 7.1 Additional Subscriptions After Initial Closing ……………………………………………………27 SECTION 7.2 Accession to Agreement …………………………………………………………………………………………………27 ARTICLE VIII. CAPITALOF THE PARTNERSHIP…………………………………………………………………………28 SECTION 8.1 Capital Contributions ………………………………………………………………………………………………………28 SECTION 8.2 Failure to Make Additional Capital Contributions ………………………………………………29 SECTION 8.3 Excused Partner……………………………………………………………………………………………………………………30 SECTION 8.4 No Interest or Withdrawals……………………………………………………………………………………………30 SECTION 8.5 Key-Man Triggering Event ……………………………………………………………………………………………30 ARTICLE IX. ACCOUNTS……………………………………………………………………………………………………………………31 SECTION 9.1 Contributions Accounts…………………………………………………………………………………

FAQs

What is the purpose of SCP Private Equity Partners II, L.P. under this agreement?

The agreement states the partnership’s purpose in Article II, including how the firm is organized and empowered to operate toward that purpose. It also defines the partnership’s powers to carry out its investment activities.

What authority and duties does the general partner have?

The general partner’s name, address, subscription, and management/control responsibilities are defined in the general partner sections. The agreement also outlines the general partner’s powers, duty of care, and conflict-of-interest avoidance provisions.

How are profits, losses, and distributions handled for limited partners?

The agreement provides allocation rules for profits and losses, including tax allocations and timing. It also specifies tax distributions, distribution timing and priority, withholding, and restrictions on certain distributions.

Sep 16, 2026

Upload by Taylor Morgan