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Venture Legal

What is the best term to include in an LPA on the subject of succession of GP's in a 2-person GP fund?

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Jun 22, 2023
What should the succession term in the LPA read, be stated?

General partner succession
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Mike Suprovici
Accepted Answer
Jun 22, 2023
It's not necessary to have one. This is typically handled at the ManCo level, not the fund. Also, see the Limited Operations Mode in the cornerstone LPA. 
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