Allocation of Certain Expenditures. Except as otherwise provided for in this Agreement and unless prohibited by the Investment Company Act, any expenditures payable by the Company, to the extent determined by the Board of Directors to have been paid or withheld on behalf of, or by reason of particular circumstances applicable to, one or more but fewer than all of the Members, shall be charged to only those Members on whose behalf such payments are made or whose particular circumstances gave rise to such payments. Such charges shall be debited from the Capital Accounts of such Members as of the close of the Allocation Period during which any such items were paid or accrued by the Company.
Appears in 3 contracts
Samples: Operating Agreement (PARADIGM Multi Strategy Fund, LLC), Operating Agreement (Acp Strategic Opportunities Fund Ii LLC), Operating Agreement (Acp Continuum Return Fund Ii LLC)
Allocation of Certain Expenditures. Except as otherwise provided for in this Agreement and unless prohibited by the Investment Company 1940 Act, any expenditures payable by the Company, to the extent determined by the Board of Directors to have been paid or withheld on behalf of, or by reason of particular circumstances applicable to, one or more but fewer than all of the Members, shall be charged to only those Members on whose behalf such payments are made or whose particular circumstances gave rise to such payments. Such charges shall be debited from the Capital Accounts of such Members as of the close of the Allocation Fiscal Period during which any such items were paid or accrued by the Company.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Grosvenor Registered Multi-Strategy Fund (Te), LLC), Limited Liability Company Agreement (Grosvenor Registered Multi-Strategy Fund (Ti 2), LLC), Limited Liability Company Agreement (Phoenix LJH Advisors Fund LLC)
Allocation of Certain Expenditures. Except as otherwise provided for in this Agreement and unless prohibited by the Investment Company Act, any expenditures payable by the CompanyFund, to the extent determined by the Board of Directors to have been paid or withheld on behalf of, or by reason of particular circumstances applicable to, one or more but fewer than all of the MembersPartners, shall be charged to only those Members Partners on whose behalf such payments are made or whose particular circumstances gave rise to such payments. Such charges shall be debited from the Capital Accounts of such Members Partners as of the close of the Allocation Period during which any such items were paid or accrued by the CompanyFund.
Appears in 1 contract
Samples: Limited Partnership Agreement (Persimmon Growth Partners Fund Lp)
