Affiliates definition

We have the following definition:

Affiliates means any:

(ii) fund or limited partnership that is managed or advised, or whose general partner or manager is managed or advised, by the Receiver or its Affiliate or which the Receiver or its Affiliate controls.

From the explanation on the project's website, it appears that the definition of has been expanded to include funds and "limited partnerships" in response to requests received from law firms, funds and professional services firms that could not use the previous version because it did not sufficiently cover their types of organisations.

From my perspective the activities of funds and "limited partnerships", which are managed by the parties to the oneNDA, are so specific that even if such an extension of the definition of "affiliates" may sometimes be necessary, these will be rather occasional situations that could be described by the parties under the special (variable) provisions. In its current form, this provision is overly complicated and requires careful analysis.