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GLDUS139 Third Lake Capital
Section 9: Cede." Legal. ERISA and Tax Considerations
Glendower Capital Secondary Opportunities Fund IV. LP
Partner
(c)
The current risk profile of the Fund and the
risk management systems employed by the
Manager to manage those risks.
(d)
My changes to the maximum level of
leverage which the Manager may employ
on behalf of the Fund as well as any right of
the reuse of collateral or any guarantee
granted under the leveraging arrangement.
In each annual report
Without undue delay in a disclosure notice
delivered to each Limited Partner.
(e)
The total amount of leverage employed by
In each annual report
the Fund.
Net Asset Value and Historical Performance of the Fund
No Investors have been admitted to the Fund. Accordingly, (a) there is no net asset value of the Fund. (b) the Fund has
made no investments, so there is no information to disclose about the historical performance of the Fund, and (c) there is
no annual report in respect of the Fund.
Prime Broker
The Fund has not engaged. and the Manager does not anticipate that the Fund will engage. a prime broker.
The Depositary
Aztec Financial Services (UK) Limited (the 'Depositary) has been retained by the Manager to perform the depositary
function pursuant to Article 21 of the AIFMD in respect of the Fund, including monitoring cash flows of the Fund, verifying
the ownership of assets and making custody arrangements for the safekeeping of any custodial assets and overseeing
the operations of the Fund.
The Depositary may, with the prior written consent of the Manager, delegate any part of its duties under the depositary
agreement to third parties. To the fullest extent permitted by law. the Depositary does not owe any duty to any Limited
Partner or the Limited Partners as a group in connection with its retention as the Fund's depositary.
With respect to safekeeping (to the extent it is required), the Depositary may delegate its duties to one or more third party
custodians. It is expected that such third party custodians will be able to provide safekeeping in any relevant jurisdiction
where it is required.
Neither the Depositary, nor any third party custodian to whom safekeeping is delegated, shall have a right of re-use of
any of the Fund's assets.
The Depositary has restricted its liability. In particular, the Depositary will not be liable to the Fund, the Manager. the
Limited Partners or the General Partner under or in connection with the depositary agreement, save to the extent that
such liability arises as a result of the Depositary's gross negligence, wilful default, fraud, a material breach of the
depositary agreement or a material breach of applicable law.
The fees of the Depositary, and any costs associated with the appointment of the Depositary, will constitute expenses of
the Fund.
Confidential Private Placement Memorandum
73
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e)
DB-SDNY-0095935
CONFIDENTIAL
SDNY_GM_00242119
EFTA01391168