Roll-Up Series, Series Roll-up Period

Non-PRO English to French Law/Patents Finance (general) Partnership Agreement

As of the end of each period (each a Series Roll-Up Period) ending on the last day of each calendar year and commencing on the first day of the next calendar year, save for purposes of the first calendar year, for which purposes the period will commence on the initial subscription date, the issued and outstanding Units of each Series of Units (other than the lead Series of each Class of Units) shall, with effect from the first Business Day following the end of the Series Roll-up Period, be redeemed by the Partnership and the redemption proceeds shall be applied by the Partnership towards the issue of initial Series of Units of the same Class (each a Roll-Up Series) at the NAV per Unit of the lead Series of the relevant Class.