GP removal under Cornerstone needs a 66⅔% vote AND a final court adjudication of Material Breach — doesn't the court requirement make removal effectively unavailable, and do LPs negotiate it out?
Reading Sections 4.4 and 5.2 together: LPs holding a Requisite Majority can put the fund into Limited Operations Mode on an alleged Material Breach, which suspends the management fee. But actual removal of the GP requires that the breach be unresolved AND finally adjudicated by a court — or that all Key Individuals are incapacitated. Litigation to final judgment is slow and expensive, and the fund is frozen meanwhile. Is the court requirement intended as a deliberate protection against opportunistic removal, and in practice do sophisticated LPs push to replace it with a for-cause standard determined by the Advisory Committee, or a no-fault removal at a supermajority?