# AI Toolkit Feedback

15:06

Community Member

September 01 at 03:06 pm

1. How much flexibility does a GP typically have to make investments outside the fund's stated investment strategy under the LPA?

2. How are management fees typically calculated during the investment period versus after the investment period?

3. What happens under an LPA if an LP fails to meet a capital call?

4. How do recycling provisions work, and when can a GP reinvest proceeds from an exit instead of distributing them to LPs?

0 replies

15:05

Community Member

September 01 at 03:05 pm

How much flexibility does a GP typically have to make investments outside the fund's stated investment strategy under the LPA?

0 replies

Today

14:22

Community Member

August 31 at 02:22 pm

And finally,
3. If the GP wants to make an investment or take an action that could create a conflict of interest with an LP or another portfolio company, how does the LPA typically govern that situation, and what approvals or disclosures may be required?

0 replies

14:21

Community Member

August 31 at 02:21 pm

Also,
2. Which LPA provisions are most important for a first-time or emerging GP to understand before accepting LP commitments, particularly around capital calls, fees and expenses, conflicts of interest, indemnification and removal/key-person provisions?

0 replies

14:19

Community Member

August 31 at 02:19 pm

Hi,
How does the LPA balance the GP's discretion to make investment and portfolio-management decisions with the LPs' rights to oversight, reporting and approval? What are the most important situations where the GP's discretion is limited?

0 replies

14:18

Community Member

August 31 at 02:18 pm

- What are the main reasons for unhappy LP/GP relationship?
- How can an unhappy LP trigger and prevent the fundraising for round 2?
- What is the best place in the world to create a fund, outside of Delaware?
- how are the prohibited sectors decided for "no investment" policy?

0 replies

13:52

Community Member

August 31 at 01:52 pm

What's the practical difference between a Deal-by-Deal and Whole-of-Fund waterfall for an LP, and which one do institutional LPs actually prefer? Deal-by-Deal pays the GP carry investment by investment as soon as each one returns capital, which is friendlier to the GP and common among emerging managers. Whole-of-Fund holds all carry back until LPs have their entire capital back across the whole fund, which protects LPs from overpaying carry on an early winner before later losers show up, and most institutional LPs actually prefer it for exactly that reason even though Cornerstone's target audience skews toward Deal-by-Deal.
Why does the LPA let the GP set "Fair Value" unilaterally and call it final and binding when there's a separate Valuation Policy that seems to want a more structured process? The Valuation Policy isn't a legal override of the LPA, it's the internal procedure the GP adopts to make good on the fiduciary duty the LPA already imposes. The LPA gives the GP final say so investors aren't stuck in constant valuation disputes, and the Valuation Policy is how a responsible GP self-polices that discretion with a consistent, GAAP based methodology instead of picking whatever number it wants.
What actually triggers Limited Operations Mode versus outright GP removal, and which happens more often? Limited Operations Mode is the lower bar, triggered by two thirds of LPs believing a Material Breach occurred, and it just freezes new investments and fees for a 90 day negotiation window. Actual removal needs that same Material Breach to also be adjudicated by a court, a meaningfully higher bar, so Limited Operations Mode is the far more common real world outcome

0 replies

04:28

Community Member

August 31 at 04:28 am

On Cornerstone LPA Section 4.3.3 routes conflict of interest approvals to a Majority in Interest of Limited Partners rather than the Advisory Committee. If a GP incubates companies inside the fund, does every incubated investment constitute a conflict requiring that vote, or only those where the GP holds founding equity outside the fund?

0 replies

03:26

Community Member

August 31 at 03:26 am

On LPA - where's the line between "ministerial clarification" and "material change" for a thesis that's still actively being refined?

1 reply

Yesterday

22:20

Community Member

August 28 at 10:20 pm

Questions and Answers Regarding the Cornerstone LPA

1. What specific documents are included in the Cornerstone download bundle?
Answer: The bundle includes the Cornerstone LPA (v3.0), the Subscription Agreement (investor signature package), the LP Consent Letter, and supporting fund formation documents to provide a complete starting package for counsel.

2. How does Cornerstone reduce fund formation costs and launch timelines?
Answer: By offering a standardized framework developed with fund attorneys, it prevents counsel from drafting an LPA from scratch, lowering legal bills from high five or six figure quotes and shortening LP legal review from weeks to days.

3. Which terms are intended to be customized by the General Partner?
Answer: The GP only edits the fund specific economic variables: fund name, target size, management fee percentage, carried interest, hurdle rate, fund term, and GP commitment. Standard governance mechanics are left unchanged.

4. What distribution waterfalls does Cornerstone v3.0 support?
Answer: Cornerstone v3.0 supports both American (deal by deal) and European (whole of fund) distribution waterfalls, incorporating recent SEC regulatory updates.

5. How should GPs accommodate anchor LPs requesting custom terms without altering the base LPA?
Answer: Anchor LPs negotiate custom arrangements through a separate side letter framework, preserving the core LPA as an unredlined, standardized document that smaller LPs can sign as is.

4 replies

Friday, August 28

01:31

Community Member

August 27 at 01:31 am

What can I change without calling an LP vote? Section 8.9 lets me amend non-material, ministerial matters on my own, while any significant change or version upgrade needs a Majority in Interest to approve.

0 replies

01:30

Community Member

August 27 at 01:30 am

Who signs off on a conflict of interest? Section 4.3.3 moved conflict approval from the Advisory Committee to a Majority in Interest of the LPs, and conflicted LPs are excluded from that count.

0 replies

Thursday, August 27

17:37

Community Member

August 25 at 05:37 pm

There was an error generating the PACT document for . This error is unexepected, please contact support for help. You can find support at Decile Base, or on Slack.

1 reply

Tuesday, August 25

18:32

Community Member

July 14 at 06:32 pm

Visited files in this data room, but didn't get assigned via the automation to pipeline and stage? https://teamignite.decilehub.com/data_room/folders?filtered_folder_id=0ndwgjxN

0 replies

Tuesday, July 14

17:39

Community Member

July 13 at 05:39 pm

Missing Feature: Ability to Prevent AI Automation from Editing Custom Data Points

Toolkit: Decile Hub

Category: Missing Feature

Summary: Need ability to prevent AI automation from editing custom data points

Details: User requests the ability to prevent the AI automation assistant from editing or overwriting custom data points in organizations. Currently there is no setting or configuration option to disable AI automation from modifying specific custom fields. This would be valuable for protecting manually-entered or curated data from being altered by automated processes.

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