Common use of General Partner May Waive or Reduce Performance Allocation Clause in Contracts

General Partner May Waive or Reduce Performance Allocation. The General Partner, in its sole discretion, may waive or reduce the Performance Allocation with respect to Limited Partners that are affiliated with the General Partner and others, including Special Limited Partners. In the event the General Partner agrees to reduce the Performance Allocation rate in respect of any Limited Partner for any Performance Period, the General Partner shall offer the other Limited Partners, other than a Special Limited Partner, an equivalent reduction of the rate of the Performance Allocation for such Performance Period.