Lake Whillans will observe the confidentiality of all information and documentation provided to the extent that the law permits, and subject to the terms of any applicable court order or Confidentiality or Non-Disclosure Agreement to which we are a party.
II. ATTORNEY INDEPENDENCE
Lake Whillans will not take any steps to interfere with the independent professional judgment and the duty of undivided loyalty of the attorney(s) representing our investment counterparty.
III. SETTLEMENT AUTHORITY
Where our investment agreement provides that the counterparty retains settlement control (which is customary in our investments), there will be no terms that limit or inhibit the counterparty’s exercise of that control right for its own economic advantage.
IV. DILIGENCE PROCESS
Lake Whillans recognizes that securing the capital necessary to sustain a business or litigation is often a time sensitive endeavor; we commit to expeditiously conduct our diligence and to inform a potential counterparty of a funding decision as soon as practicable. We also recognize the need to preserve privileges and conduct our diligence accordingly and in consultation with the attorney(s) representing our investment counterparty.
V. COMMITMENT TO FUND
Lake Whillans will not require in its investment agreements a unilateral right to prematurely exit an investment based on any reevaluation of the merits of a claim.
VI. RESERVE CAPITALIZATION
For each investment, Lake Whillans will hold in reserve 100% of the capital committed under the terms of the investment agreement.