Harvard University’s tax-exempt status has been questioned by the Trump Administration—with Harvard responding that there is no legal basis for a revocation. The Administration’s action...
Many states are implementing energy benchmarking programs to track and identify energy use in buildings. These programs aim to encourage energy efficiency and reduce greenhouse gas emissions. Check out...
When engaging in M&A discussions, parties should prioritize rigorous confidentiality measures to protect sensitive business information. Our new confidentiality agreement playbook offers valuable insights...
This practice note discusses Institutional Review Boards (IRBs) within the United States, including their purpose, history, and regulatory framework. The note is a valuable resource for advising life sciences...
Do you need guidance on tipped employee requirements under the Fair Labor Standards Act (FLSA)? Read our newly published checklist, Tipped Employees Checklist (FLSA) , for helpful information. Read now...
Drafting and negotiating a side letter is one of the most important, and delicate, interactions between fund and investor counsel. Funds in today’s marketplace should assume that most investors will demand side letters, and not just with respect to more favorable economic and/or governing terms, but also to address their specific needs in an increasingly complex investing environment. The provisions being sought in a side letter could be specific to a particular investor (i.e., those addressing an investor’s specific tax, regulatory, or policy issues) or be of the more traditional, “more favorable terms” variety that all investors would desire. If the private equity fund has many investors, particularly institutional investors, fund counsel may draft form side letter provisions that address each issue using the general partner’s preferred language and terms. This helps to standardize the side letter process and ensure that each provision is consistent in the many side letters between the fund and its investors.
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