Annual Distributions. The Fund shall distribute all of its net investment income to Members for each calendar year (an “Annual Distribution”). The Annual Distributions shall be made to each Member pro rata based on the number of Units held by such Member and will be net of Fund expenses. Units are issued and outstanding from the initial date on which Units are sold (or other date on which Units are issued by the Fund) to the date on which such Units are repurchased by the Fund.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Ironwood Multi-Strategy Fund LLC), Limited Liability Company Agreement (Ironwood Institutional Multi-Strategy Fund LLC), Limited Liability Company Agreement (Ironwood Multi-Strategy Fund LLC)
Annual Distributions. The Fund shall distribute all of its net investment income to Members for as of the last calendar day of each calendar year (an “Annual Distribution”). The Annual Distributions shall be made to each Member pro rata based on the number of Units held by such Member and will be net of Fund expenses. Units are issued and outstanding from the initial date on which Units are sold (or other date on which Units are issued by the Fund) to the date on which such Units are repurchased by the Fund.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Ironwood Institutional Multi-Strategy Fund LLC), Limited Liability Company Agreement (Ironwood Multi-Strategy Fund LLC)
