Cornerstone LPA questions
After reading through the cornerstone LPA I am still a little confused on a couple things that I feel like this community can help clarify for me:
- How does the LPA hold the GP to stick to the fund's thesis and not deviate from it? Is that possible or should the GP have some flexibility?
- What should be left out of an LPA or is inappropriate to include in an LPA?
- How do taxes work in a GP fund? Like what taxes are paid on interest earned by the General Partner before being distributed out to the LPs?