Extract to table

• BFO's election to adopt any additional terms identified in the MFN summary must be made within twenty (20) business days of BFO's receipt of the summary (the "MFN Election Period")

A departure by either key person would fundamentally alter the investment proposition that BFO evaluated, and BFO's protection in that scenario must be commensurate with the significance of the personnel risk

Under a notice right, capital calls continue to accrue and BFO must affirmatively elect within a compressed timeframe or lose the protection entirely

5 billion private equity fund requires BFO to assess the qualifications and track record of the proposed successor, evaluate the impact of the departure on the Fund's existing portfolio and pipeline, consult with BFO's investment committee (which must coordinate the schedules of four members, including Julian R

MFN Summary Delivery Timing BFO's Position: BFO's draft provides that the GP must deliver the redacted MFN summary to BFO within fifteen (15) business days of the applicable closing

NEGOTIATION STRATEGY AND PRIORITIZATION Based on our assessment of the open points, BFO's relative interests, and the likely dynamics of the call, we recommend the following prioritization framework: Priority 1 — Must-Have: The aggregate excuse cap must be set at no less than 20% of BFO's capital commitment