Common use of Performance Incentive Clause in Contracts

Performance Incentive. (a) So long as the General Partner continues to serve in that capacity, and for each Limited Partner for which the Partnership Return earned by the Limited Partner for the applicable Incentive Period exceeds the greater of the Hurdle Rate for that Incentive Period or (2) the Loss Carryforward Amount, if any, the Performance Incentive will be debited against the Capital Account of that Limited Partner as of the last day of the Incentive Period, and the amount so debited will be credited simultaneously to the Capital Account of the General Partner, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of the Partners as have been designated in any written notice delivered by the General Partner to the Partnership within 90 days after the close of the Incentive Period. (b) Within 30 days after the close of each Incentive Period with respect to each Limited Partner, the General Partner may withdraw up to 100% of the Performance Incentive (computed on the basis of unaudited data) that was credited to the Capital Account of the General Partner, and debited from the Limited Partner's Capital Account with respect to the Incentive Period. The Partnership may pay the General Partner the undrawn balance, if any, of the Performance Incentive (subject to audit adjustments) within 30 days after the completion of the audit of the Partnership's accounts pursuant to Section 7.1 of this Agreement.

Performance Incentive. (a) So long as the General Partner continues to serve in that capacity, and for each Limited Partner for which the Partnership Return earned by the Limited Partner for the applicable Incentive Period exceeds the greater of (1) the Hurdle Rate for that Incentive Period or (2) the Loss Carryforward Amount, if any, the Performance Incentive will be debited against the Capital Account of that Limited Partner as of the last day of the that Incentive Period, and the amount so debited will be credited simultaneously to the Capital Account of the General Partner, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of the Partners as have been designated in any written notice delivered by the General Partner to the Partnership within 90 days after the close of the Incentive Period. (b) Within 30 days after the close of each Incentive Period with respect to each Limited Partner, the General Partner may withdraw up to 100% of the Performance Incentive (computed on the basis of unaudited data) that was credited to the Capital Account of the General Partner, and debited from the Limited Partner's ’s Capital Account with respect to the Incentive Period. The Partnership may will pay the General Partner the undrawn balance, if any, of the Performance Incentive (subject to audit adjustments) within 30 days after the completion of the audit of the Partnership's ’s accounts pursuant to Section 7.1 of this Agreement.

Performance Incentive. (a) So long as the General Partner continues to serve in that capacity, and for each Limited Partner for which the Partnership Return earned by the Limited Partner for the applicable Incentive Period exceeds the greater of the Hurdle Rate for that Incentive Period or (2) the Loss Carryforward Amount, if any, the Performance Incentive will be debited against the Capital Account of that Limited Partner as of the last day of the Incentive Period, and the amount so debited will be credited simultaneously to the Capital Account of the General Partner, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of the Partners as have been designated in any written notice delivered by the General Partner to the Partnership within 90 days after the close of the Incentive Period. (b) Within 30 days after the close of each Incentive Period with respect to each Limited Partner, the General Partner may withdraw up to 100% of the Performance Incentive (computed on the basis of unaudited data) that was credited to the Capital Account of the General Partner, and debited from the Limited Partner's Capital Account with respect to the Incentive Period. The Partnership may pay the General Partner the undrawn balance, if any, of the Performance Incentive (subject to audit adjustments) within 30 days after the completion of the audit of the Partnership's accounts pursuant to Section 7.1 of this Agreement. (c) The General Partner may rebate all or a portion of the Performance Incentive to certain employees of Hatteras Investment Partners, LLC that qualify as "knowledgeable employees" under Rule 3c-5 under the 1940 Act.

Performance Incentive. (a) So long as the General Partner continues to serve in that capacity, and for each Limited Partner for which the Partnership Return earned by the Limited Partner for the applicable Incentive Period exceeds the greater of the Hurdle Rate for that Incentive Period or (2) the Loss Carryforward Amount, if any, the Performance Incentive will be debited against the Capital Account of that Limited Partner as of the last day of the Incentive Period, and the amount so debited will be credited simultaneously to the Capital Account of the General Partner, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of the Partners as have been designated in any written notice delivered by the General Partner to the Partnership within 90 days after the close of the Incentive Period. (b) Within 30 days after the close of each Incentive Period with respect to each Limited Partner, the General Partner may withdraw up to 100% of the Performance Incentive (computed on the basis of unaudited data) that was credited to the Capital Account of the General Partner, and debited from the Limited Partner's Capital Account with respect to the Incentive Period. The Partnership may pay the General Partner the undrawn balance, if any, of the Performance Incentive (subject to audit adjustments) within 30 days after the completion of the audit of the Partnership's accounts pursuant to Section 7.1 of this Agreement. (c) The General Partner may rebate all or a portion of the Performance Incentive to certain employees of the Adviser that qualify as "knowledgeable employees" under Rule 3c-5 under the 1940 Act.

Performance Incentive. (a) So long as the General Partner continues to serve in that capacity, and for each Limited Partner for which the Partnership Return earned by the Limited Partner for the applicable Incentive Period exceeds the greater of the Hurdle Rate for that Incentive Period or (2) the Loss Carryforward Amount, if any, the Performance Incentive will be debited against the Capital Account of that Limited Partner as of the last day of the Incentive Period, and the amount so debited will be credited simultaneously to the Capital Account of the General Partner, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of the Partners as have been designated in any written notice delivered by the General Partner to the Partnership within 90 days after the close of the Incentive Period. (b) Within 30 days after the close of each Incentive Period with respect to each Limited Partner, the General Partner may withdraw up to 100% of the Performance Incentive (computed on the basis of unaudited data) that was credited to the Capital Account of the General Partner, and debited from the Limited Partner's ’s Capital Account with respect to the Incentive Period. The Partnership may pay the General Partner the undrawn balance, if any, of the Performance Incentive (subject to audit adjustments) within 30 days after the completion of the audit of the Partnership's ’s accounts pursuant to Section 7.1 of this Agreement.