Common use of Time Devoted to Partnership Business Clause in Contracts

Time Devoted to Partnership Business. During the period commencing as of the date hereof and ending on the first to occur of (a) the end of the Commitment Period and (b) the point in time at which a Subsequent Fund organized in accordance with the terms hereof makes its first investment, the Manager and the Designated Principals (while active as employees of the Manager), on a collective basis, shall devote a substantial majority of their business time to the business and operations of the Partnership, ECIC and the Parallel Investment Entities; provided, however, that it is specifically understood and agreed that neither the Manager nor the Designated Principals, either individually or on a collective basis, shall be required to devote full time to Partnership business. After such period, the Manager and the Designated Principals (while active as employees of the Manager) shall devote such amount of their business time as is reasonably necessary to manage properly the affairs and activities of the Partnership.