CAPITAL CONTRIBUTIONS BY INITIAL SHAREHOLDERS. At the Initial Closing, the initial Shareholders shall purchase full and fractional Undivided Shares (rounded to the nearest 1/1000) at a purchase price of $100 per Share, and shall contribute to the capital of the Fund their Capital Contributions in the form of Acceptable Securities. The Capital Contributions of each initial Shareholder will be net of the selling commissions paid by the Fund on behalf of such Shareholder, if any. The Initial Closing of the sale of Shares will be consummated in the manner described in the Memorandum.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Belport Capital Fund LLC), Limited Liability Company Agreement (Belmar Capital Fund LLC), Belrose Capital Fund LLC
CAPITAL CONTRIBUTIONS BY INITIAL SHAREHOLDERS. At the Initial Closing, the initial Shareholders shall purchase full and fractional Undivided Shares (rounded to the nearest 1/1000) at a purchase price of $100 per Share, and shall contribute to the capital of the Fund their Capital Contributions in the form of Acceptable Securities. The Capital Contributions of each initial Shareholder will be net of the selling commissions paid by the Fund on behalf of such Shareholder, if any. The On the Effective Date, the Initial Closing of the sale of Shares will be consummated in the manner described in the Memorandum.
Appears in 2 contracts
Samples: Operating Agreement (Belcrest Capital Fund LLC), Operating Agreement (Belair Capital Fund LLC)
