Contractual Statute of Limitations. Any claim brought against any Director, the Adviser or any Sub-Adviser, the Fund or any related party that arises out of or is connected with or related to the Fund or such party's involvement with the Fund or its business affairs in any way, including any claim resulting from or relating to the offer or sale of the Interests shall, unless otherwise previously barred by any provision of law, be barred unless such claim is initiated within one year of the discovery of the event which is the subject of such claim or within one year of the date that such event reasonably should have been discovered (whichever is sooner).
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Asa Debt Arbitrage Fund LLC), Limited Liability Company Operating Agreement (Asa Market Neutral Equity Fund LLC), Limited Liability Company Operating Agreement (Asa Managed Futures Fund LLC)
