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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01384661: Holder (DS10)

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This document contains legal analysis regarding the rights of a holder of a participation interest in an underlying fund, specifically addressing the holder's lack of direct rights to exercise lender rights under a credit agreement. The excerpt appears to be from a legal memorandum or fund documentation.

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As a **holder** of a participation interest, an Underlying Fund generally will have no right to exercise the rights of the lender under the credit agreement

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