Partnership/Company Expenses — LPA/LLC

Description

This smart field captures provisions relating to a limited partnership or limited liability company’s obligation to pay its ongoing business or operating expenses, including the obligation to reimburse the general partner or manager (or a director, committee member, etc. where applicable) for any such expenses incurred on its behalf. It does not capture management fees paid to the general partner or manager, non-reimbursable expenses of the partners/members, capital contributions to fund expenses, or expense-related defined terms. This smart field was trained on limited partnership agreements and LLC operating agreements.