Common use of Key Person Event Clause in Contracts

Key Person Event. (a) The General Partner shall deliver a written notice to all Limited Partners within ten (10) Business Days after a Key Person Event. (b) If a Key Person Event occurs during the Draw Period, each Limited Partner shall have the right, exercisable by written notice to the Fund received no later than ten (10) Business Days after the General Partner’s delivery of such Key Person Event notice, to discontinue making any additional Capital Contributions effective immediately (a “Capital Termination”). (c) No Capital Calls may be made during the twenty (20) Business Day period following a Key Person Event.