← Glossary
Substitute Partner
The buyer of an existing limited partnership interest once the fund admits it as a partner in the seller's place, succeeding to that interest's rights and obligations; in ILPA's model agreement admission follows the general partner's acceptance of the buyer's subscription agreement, and the buyer is then listed in the register.
Orivade keeps this on the investor's record — linked to the email or document it came from, so the current status is one search away the moment an LP asks.
See also
- Subscription AgreementThe contract an investor signs to commit capital to a fund, stating the commitment amount and eligibility representations.
- Limited Partnership Agreement (LPA)The governing contract between a fund's general partner and its limited partners, setting economics, terms, and governance.
- Side LetterAn agreement that modifies a fund's standard terms for a specific investor, often an anchor or institutional LP.
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