Admission of Members; Closings and Initial Capital Contributions. (a) At any time on or prior to the Final Closing, the Manager may, in its sole discretion, admit one or more Persons to the Fund as Members. A Person shall be admitted to the Fund as a Member (and be shown as such in the books and records of the Company) upon execution and delivery by such Person of this Agreement (or a counterpart hereof) and a Subscription Agreement and the acceptance by the Manager of such subscription in accordance with the terms and conditions of this Agreement.
(b) At any time on or prior to the Final Closing, the Manager, in its sole discretion, schedule one or more closings for sales of Units and cause the Fund to admit Members or permit existing Members to increase their Capital Commitments.
(c) Contemporaneously with being admitted to the Fund or increasing its Capital Commitment, each Member shall make Capital Contributions to the Fund in the amount of such Member’s Capital Commitment as set forth on such Member’s accepted Subscription Agreement.
