Compulsory Redemptions. (a) The Company may also compulsorily redeem all or part of a Class A Member’s Interests at any time and for any reason in the sole discretion of the Managing Member upon thirty (30) days written notice to the Class A Member at a price equal to the Class A Member’s capital contribution plus any accrued but unpaid Preferred Return and other income which is owed to the Class A Member on the date of redemption. In addition, the Managing Member may immediately expel a Class A Member for cause if (i) the Class A Member has materially breached or is unable to perform the Class A Member’s material obligations under this Agreement, (ii) a proceeding is commenced or threated against the Company arising out of a Class A Member’s investment in the Company, or (iii) such ownership has resulted in an adverse effect. A Class A Member’s expulsion from the Company will be effective upon the Class A Member’s receipt of written notice of the expulsion by the Company.
Compulsory Redemptions. (a) The Company may, in the sole discretion of the Managing Member, compulsorily redeem up to ten percent (10%) of the outstanding Class A Units during any calendar year for the purpose of stabilizing NAV. In addition, the Managing Member may elect to redeem all or part of a Member's Interests at any time and for any reason in the sole discretion of the Managing Member upon thirty (30) days written notice to the Member at a price equal to the Member's capital contribution plus any accrued but unpaid Preferred Return and other income which is owed to the Member on the date of redemption. In addition, the Managing Member may also, by notice to a member, force the sale of all or a portion of such member's interest on such terms as the Managing Member determines to be fair and reasonable, or take such other action as it determines to be fair and reasonable in the event that the Managing Member determines or has reason to believe that: (i) such member has attempted to effect a transfer of, or a transfer has occurred with respect to, any portion of such member's interest in violation of the Operating Agreement (ii) continued ownership of such Class A Units by such Member is reasonably likely to cause the Company to be in violation of securities laws of the United States or any other relevant jurisdiction or the rules of any self-regulatory organization applicable to the Managing Member or its Affiliates (iii) continued ownership of such interest by such member may be harmful or injurious to the business or reputation of the Company or the Managing Member, or may subject the Company or any members to a risk of adverse tax or other fiscal consequence, including without limitation, adverse consequence under ERISA (iv) any of the representations or warranties made by such member in connection with the acquisition of such Member's interest was not true when made or has ceased to be true or (v) such member's interest has vested in any other person by reason of the bankruptcy, dissolution, incompetency or death of such member.
Compulsory Redemptions. The Directors may, in their sole discretion, cause the Fund to redeem some or all of a Shareholder’s Shares at any time upon at least 48 hours’ prior written notice. In the event of a compulsory redemption, the Redemption Price will be determined as of the close of business on the compulsory Redemption Date (which may be any Valuation Date in addition to a Redemption Date) specified by the Directors in its notice to the Shareholder. A Shareholder whose Shares are compulsorily redeemed will have no Shareholder rights after the close of business on the date on which the notice of compulsory redemption was issued.
Compulsory Redemptions. The Subscriber understands that the Shares may be subject to compulsory redemption in certain circumstances as set out in the Memorandum.
