Law360, New York ( March 2, 2015, 2:01 PM EST) -- Side letters in favor of investors in private investment funds have become customary. This article focuses on the operation of a side letter's most-favored-nation provision (MFN) on the substantive provisions of another investor's side letter. It is believed that significant uncertainty pervades that interaction, as a function of differing perspectives on the scope of benefits arising in those substantive provisions....
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