HATTERAS MULTI-STRATEGY TEI INSTITUTIONAL FUND, L.P.
EXHIBIT C
LETTER OF TRANSMITTAL
Regarding Units in
HATTERAS MULTI-STRATEGY TEI INSTITUTIONAL FUND, L.P.
Tendered Pursuant to the Offer to Purchase
Dated March 30, 2009
THIS LETTER OF TRANSMITTAL MUST BE
RECEIVED BY UMB FUND SERVICES, INC.
BY APRIL 24, 2009.
THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE
AT 12:00 MIDNIGHT, EASTERN STANDARD TIME, ON APRIL 24, 2009,
UNLESS THE OFFER IS EXTENDED.
Complete This Letter Of Transmittal And Return To:
Hatteras Multi-Strategy TEI Institutional Fund, L.P.
c/o UMB Fund Services, Inc.
P.O. Box 1623
Milwaukee, WI 53201-1623
Attention: Tender Offer Administrator
Phone: (800) 504-9070
Fax: (816) 860-3138
Letter of Transmittal Page 1 of 4
HATTERAS MULTI-STRATEGY TEI INSTITUTIONAL FUND, L.P.
Ladies and Gentlemen:
The undersigned hereby tenders to Hatteras Multi-Strategy TEI Institutional
Fund, L.P., a closed-end, non-diversified, management investment company
organized as a limited partnership under the laws of the State of Delaware (the
"Fund"), some or all of the limited partnership units in the Fund (the "Units")
held by the undersigned, described and specified below, on the terms and
conditions set out in the Offer to Purchase, dated March 30, 2009 (the "Offer"),
receipt of which is hereby acknowledged, and in this Letter of Transmittal. THE
OFFER AND THIS LETTER OF TRANSMITTAL ARE SUBJECT TO ALL THE TERMS AND CONDITIONS
SET OUT IN THE OFFER, INCLUDING, BUT NOT LIMITED TO, THE ABSOLUTE RIGHT OF THE
FUND TO REJECT ANY AND ALL TENDERS DETERMINED BY IT, IN ITS SOLE DISCRETION, NOT
TO BE IN THE APPROPRIATE FORM.
The undersigned hereby sells to the Fund the Units tendered pursuant to
this Letter of Transmittal. The undersigned warrants that it has full authority
to sell the Units tendered hereby and that the Fund will acquire good title to
the Units, free and clear of all liens, charges, encumbrances, conditional sales
agreements or other obligations relating to this sale, and not subject to any
adverse claim, when and to the extent the Units are purchased by the Fund. Upon
request, the undersigned will execute and deliver any additional documents
necessary to complete the sale in accordance with the terms of the Offer.
The undersigned recognizes that under certain circumstances set out in the
Offer, the Fund may not be required to purchase the Units tendered hereby.
A promissory note (the "Note") for the value of the purchased Units will be
held by UMB Fund Services, Inc. ("UMBFS") on behalf of the undersigned. Upon
written request by the undersigned to UMBFS, UMBFS will mail the Note to the
undersigned at the address of the undersigned as maintained in the books and
records of the Fund. The initial payment of the purchase amount for the Units
tendered by the undersigned will be made by wire transfer of the funds to an
account designated by the undersigned in this Letter of Transmittal.
The Note will also reflect the "Post-Audit Payment" portion of the purchase
amount, if any, as described in Section 7 of the Offer. Any Post-Audit Payment
of cash due pursuant to the Note will also be made by wire transfer of the funds
to the undersigned's account as provided herein. The undersigned recognizes that
the amount of the initial payment of the purchase amount for Units will be based
on the unaudited net asset value of the Fund as of June 30, 2009, subject to an
extension of the Offer as described in Section 8 of the Offer. The Post-Audit
Payment will be payable promptly after the completion of the Fund's next annual
audit. It is anticipated that the annual audit of the Fund's financial
statements will be completed no later than 60 days after the fiscal year-end of
the Fund.
All authority conferred or agreed to be conferred in this Letter of
Transmittal will survive the death or incapacity of the undersigned and the
obligation of the undersigned hereunder will be binding on the heirs, personal
representatives, successors and assigns of the undersigned. Except as stated in
Section 6 of the Offer, this tender is irrevocable.
PLEASE FAX OR MAIL (VIA CERTIFIED MAIL, RETURN RECEIPT REQUESTED) TO:
HATTERAS MULTI-STRATEGY TEI INSTITUTIONAL FUND, L.P., C/O UMB FUND SERVICES,
INC. at P.O. BOX 1623, MILWAUKEE, WISCONSIN 53201-1623, ATTENTION: TENDER OFFER
ADMINISTRATOR (if by fax, please deliver an original, executed copy promptly
thereafter). FOR ADDITIONAL INFORMATION: PHONE: (800) 504-9070 OR FAX: (816)
860-3138.
Letter of Transmittal Page 2 of 4
HATTERAS MULTI-STRATEGY TEI INSTITUTIONAL FUND, L.P.
PART 1. NAME:
Name of Partner: ______________________________________________
Account Number: _______________________________________________
Telephone Number: _____________________________________________
PART 2. AMOUNT OF LIMITED PARTNERSHIP UNITS BEING TENDERED:
[ ] A portion of the undersigned's limited partnership units
expressed as a specific dollar value.
$___________________
[ ] The undersigned's entire limited partnership account.
The undersigned understands and agrees that if the undersigned tenders
an amount that would cause the undersigned's remaining Units to have a
net asset value of less than $100,000, the General Partner of the Fund
may reduce the amount to be repurchased from the undersigned so that the
required minimum account balance is maintained or repurchase the
remainder of the undersigned's Units in the Fund.
PART 3. PAYMENT:
CASH PAYMENT
Cash payments will be wire transferred to the account you specify below:
_________________________________
Name of Bank
_________________________________
Address of Bank
_________________________________
ABA Number
_________________________________
Account Number
_________________________________
Name Under Which Account Is Held
Letter of Transmittal Page 3 of 4
HATTERAS MULTI-STRATEGY TEI INSTITUTIONAL FUND, L.P.
PROMISSORY NOTE
The Note reflecting both the initial payment and the Post-Audit Payment portion
of the purchase amount, as applicable, will be held by UMB Fund Services, Inc.
on the undersigned's behalf. Upon a written request by the undersigned to UMBFS,
UMBFS will mail the Note to the undersigned at the address of the undersigned as
maintained in the books and records of the Fund.
PART 4. SIGNATURE(S):
FOR INDIVIDUAL INVESTORS FOR OTHER INVESTORS:
AND JOINT TENANTS:
- ------------------------------------- ----------------------------------------
Signature Print Name of Investor
(SIGNATURE OF OWNER(S) EXACTLY AS
APPEARED ON SUBSCRIPTION AGREEMENT)
- ------------------------------------- ----------------------------------------
Print Name of Investor Signature
(SIGNATURE OF OWNER(S) EXACTLY AS
APPEARED ON SUBSCRIPTION AGREEMENT)
- ------------------------------------- ----------------------------------------
Joint Tenant Signature if necessary Print Name of Signatory and Title
(SIGNATURE OF OWNER(S) EXACTLY AS
APPEARED ON SUBSCRIPTION AGREEMENT)
- ------------------------------------- ----------------------------------------
Print Name of Joint Tenant Co-signatory if necessary (SIGNATURE OF
OWNER(S) EXACTLY AS APPEARED ON
SUBSCRIPTION AGREEMENT)
----------------------------------------
Print Name and Title of Co-signatory
Date:
--------------
Letter of Transmittal Page 4 of 4
TO CANCEL TENDER PREVIOUSLY SUBMITTED
ONLY COMPLETE THIS FORM IF YOU WISH TO CANCEL THE INSTRUCTIONS
YOU SUBMITTED ON YOUR LETTER OF TRANSMITTAL.