8 Legal Documents The ILPA Institute Level II Module 1 program is an interactive course that incorporates lecture, modeling and negotiation exercises to enhance participants’ understanding of the limited partnership agreement and other material agreements. The balanced lecture format incorporates current, relevant, and practical information with usable tools and takeaways. The complexity behind standard terms will be examined and discussed, highlighting how the terms are interrelated and how ‘reasonableness checks’ can be performed. COURSE OVERVIEW Participants will gain a deeper understanding of limited partnership agreements and other documents that govern and/or affect private equity limited partnerships and the interconnected nature of these documents. Furthermore, participants will be able to identify the more salient terms of these documents and use lessons and exercises to negotiate terms that are practical, inclusive of best practices and comprehensive in nature. LEVEL II LEVEL II - MODULE 1 ALL LEVEL II COURSE PREREQUISITES Three or more years of experience directly managing and monitoring a private equity program.Applicants with less than three years of experience are required to have completed the ILPA Institute Level I program and submit a letter of endorsement on company letterhead (sample letter available at ilpa.org).The letter of endorsement will establish that the applicant exhibits managerial and leadership potential.They must also demonstrate a level of professional poise and financial acumen necessary to contribute to a senior learning environment. Candidates will be accepted based on availability and subject to ILPA review. For the Model 1 program, the role of legal counsel does not traditionally include directly managing and monitoring a private equity program, and an exception will be made for internal legal counsel registrants based on having an acceptable amount of experience in the private equity industry. PRE-READING Reading materials will be sent to participants prior to the start of the session. These will include 2-3 hours of course preparation and required reading as well as suggested readings. DELIVERY METHOD Group-Live EDUCATIONAL CREDITS Earn 8-16 CPE Credits (CPE credits are granted based on a 50-minute hour)