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(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.",{"@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":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/scp-private-equity-partners-ii-lp-limited-partnership-agreement/283123/",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/scp-private-equity-partners-ii-lp-limited-partnership-agreement/283123.png","ImageObject",442,249,{"name":88,"@type":89},"Taylor Morgan","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-23","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":47},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What is the purpose of SCP Private Equity Partners II, L.P. under this agreement?","Question",{"text":108,"@type":109},"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.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What authority and duties does the general partner have?",{"text":113,"@type":109},"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.",{"name":115,"@type":106,"acceptedAnswer":116},"How are profits, losses, and distributions handled for limited partners?",{"text":117,"@type":109},"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.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},283123,1789589546,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":47,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":125,"read_time":140},1099523885336,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","# LIMITED PARTNERSHIP AGREEMENT\n\nOF  \nSCP PRIVATE EQUITY PARTNERS II,L.P.  \n(A Delaware Limited Partnership)  \n# TABLE OF CONTENTS\n\nPage  \nARTICLEI. DEFINITIONS …………………………………………………………………………………………………………………………1  \nARTICLEII. ORGANIZATION…………………………………………………………………………………………………………………9  \nSECTION 2.1 Formation of Limited Partnership……………………………………………………………………………………9  \nSECTION 2.2 Firm Name; Registered and Principal Office………………………………………………………10  \nSECTION 2.3 Purpose …………………………………………………………………………………………………………………………………10  \nSECTION 2.4 Powers……………………………………………………………………………………………………………………………………10  \nARTICLE II. GENERAL PARTNER ……………………………………………………………………………………………………11  \nSECTION 3.1 Name, Address and Subscription …………………………………………………………………………………11  \nSECTION 3.2 Management and Control of the Partnership…………………………………………………………11  \nSECTION 3.3 Powers…………………………………………………………………………………………………………………………11  \nSECTION 3.4 Certificate of Limited Partnership…………………………………………………………………………………12  \nSECTION 3.5 Authority and Duty ……………………………………………………………………………………………………………12  \nSECTION 3.6 Salaries;Special Income …………………………………………………………………………………………………12  \nSECTION 3.7 Co-Investment with Parallel Funds or Limited Partners……………………………………13  \nSECTION 3.8 Other Activities……………………………………………………………………………………………………………………14  \nSECTION 3.9 Avoidance of Conflicts of Interest………………………………………………………………………………14  \nSECTION 3.10 Duty of Care ………………………………………………………………………………………………………………………16  \nSECTION 3.11 Investment Limitations …………………………………………………………………………………………………17  \nSECTION 3.12 Unrelated Business Taxable Income…………………………………………………………………………18  \nSECTION 3.13 ERISA Matters…………………………………………………………………………………………………………………18  \nSECTION 3.14 Removal and Replacement of General Partner……………………………………………………19  \nSECTION 3.15 Exclusion from Investments ………………………………………………………………………………………20  \nSECTION 3.16 Divestment from Investments……………………………………………………………………………………21  \nSECTION 3.17 Media and Common Carrier Companies …………………………………………………………………21  \nARTICLEIV. LIMITED PARTNERS………………………………………………………………………………………………………22  \nSECTION 4.1 Names, Addresses and Subscriptions …………………………………………………………………………22  \nSECTION 4.2 Liability…………………………………………………………………………………………………………………………………22  \nSECTION 4.3 No Control of Partnership;Other Limitations ………………………………………………………23  \nSECTION 4.4 Death,Dissolution or Bankruptcy…………………………………………………………………………………23  \nARTICLEV. EXPENSES;MANAGEMENT FEE………………………………………………………………………23  \nSECTION 5.1 Payment of Costs and Expenses …………………………………………………………………………………23  \nSECTION 5.2 Management Fee…………………………………………………………………………………………………………………24  \nARTICLE VI. INVESTMENT COMMITTEE AND LIMITED PARTNERS ADVISORY  \nCOMMITTEE…………………………………………………………………………………………………………………25  \nSECTION 6.1 Appointment and Vacancies ……………………………………………………………………………………………25  \nSECTION 6.2 Meetings of the Investment Committee and Limited Partners Advisory  \nCommittee…………………………………………………………………………………………………………………………………………………26  \nSECTION 6.3 Duties ……………………………………………………………………………………………………………………………………26  \nSECTION 6.4 Voting;Rules and Procedures…………………………………………………………………………………………26  \nSECTION 6.5 Duty of Care …………………………………………………………………………………………………………………………26  \nARTICLE VII. ADDITIONAL LIMITED PARTNERS ……………………………………………………………………27  \nSECTION 7.1 Additional Subscriptions After Initial Closing ……………………………………………………27  \nSECTION 7.2 Accession to Agreement …………………………………………………………………………………………………27  \nARTICLE VIII. CAPITALOF THE PARTNERSHIP…………………………………………………………………………28  \nSECTION 8.1 Capital Contributions ………………………………………………………………………………………………………28  \nSECTION 8.2 Failure to Make Additional Capital Contributions ………………………………………………29  \nSECTION 8.3 Excused Partner……………………………………………………………………………………………………………………30  \nSECTION 8.4 No Interest or Withdrawals……………………………………………………………………………………………30  \nSECTION 8.5 Key-Man Triggering Event ……………………………………………………………………………………………30  \nARTICLE IX. ACCOUNTS……………………………………………………………………………………………………………………31  \nSECTION 9.1 Contributions Accounts…………………………………………………………………………………","cbCaitvtGWwr2yUs","https://ap.wps.com/l/cbCaitvtGWwr2yUs","pdf",3260195,62,"English","# ARTICLE I. DEFINITIONS\n# ARTICLE II. ORGANIZATION\n## SECTION 2.1 Formation of Limited Partnership\n## SECTION 2.2 Firm Name; Registered and Principal Office\n## SECTION 2.3 Purpose\n## SECTION 2.4 Powers\n# ARTICLE II. GENERAL PARTNER\n## SECTION 3.1 Name, Address and Subscription\n## SECTION 3.2 Management and Control of the Partnership\n# ARTICLE IV. LIMITED PARTNERS\n## SECTION 4.1 Names, Addresses and Subscriptions\n## SECTION 4.2 Liability\n## SECTION 4.3 No Control of Partnership; Other Limitations\n# ARTICLE V. EXPENSES; MANAGEMENT FEE\n## SECTION 5.1 Payment of Costs and Expenses\n## SECTION 5.2 Management Fee\n# ARTICLE VI. INVESTMENT COMMITTEE AND LIMITED PARTNERS ADVISORY COMMITTEE\n## SECTION 6.1 Appointment and Vacancies\n## SECTION 6.3 Duties\n## SECTION 6.4 Voting; Rules and Procedures\n# ARTICLE VII. ADDITIONAL LIMITED PARTNERS\n## SECTION 7.1 Additional Subscriptions After Initial Closing\n## SECTION 7.2 Accession to Agreement\n# ARTICLE VIII. CAPITAL OF THE PARTNERSHIP\n## SECTION 8.1 Capital Contributions\n## SECTION 8.5 Key-Man Triggering Event\n# ARTICLE IX. ACCOUNTS\n## SECTION 9.1 Contributions Accounts\n## SECTION 9.4 Compliance With Treasury Regulations\n# ARTICLE X. ALLOCATIONS\n## SECTION 10.1 Allocation of Profits\n## SECTION 10.7 Tax Allocations\n# ARTICLE XI. DISTRIBUTIONS\n## SECTION 11.1 Tax Distributions\n## SECTION 11.3 Priority of Distributions","[{\"question\":\"What is the purpose of SCP Private Equity Partners II, L.P. under this agreement?\",\"answer\":\"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.\"},{\"question\":\"What authority and duties does the general partner have?\",\"answer\":\"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.\"},{\"question\":\"How are profits, losses, and distributions handled for limited partners?\",\"answer\":\"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.\"}]","SCP Private Equity Partners II, L.P. - Limited Partnership Agreement | PDF",22]