Fund’s Sole Discretion to Accept Subscription. You understand and agree that the Fund reserves the right, in its absolute discretion, to reject this subscription in whole or in part, in any order (relative to other subscribers), at any time prior to the Admission Date (as defined below) notwithstanding prior receipt by you of notice of acceptance of your subscription. This subscription is subject to allotment before or after acceptance. The “Admission Date” is the date the Fund accepts your subscription for Interests.
Fund’s Sole Discretion to Accept Subscription. You understand and agree that the Fund reserves the right, in its absolute discretion, to reject this subscription in whole or in part, including any or all tranches of funding, in any order (relative to other subscribers), at any time prior to the Admission Date (as defined below) notwithstanding prior receipt by you of notice of acceptance of your subscription. This subscription is subject to allotment before or after acceptance. You agree that the Fund Interest you have subscribed for herein will not be deemed to be issued to, or owned by, you until your “Admission Date,” which is the date (a) the Fund has accepted your subscription for a Fund Interest, (b) if you have elected to fund your Total Subscription using multiple tranches, the Fund has first accepted a tranche of funding, (c) if applicable based on the Fund to which you have subscribed, the Fund Agreement has been executed and delivered by the Manager and/or an entry has been made in the register of Members, and (d) you have paid for your Fund Interest (as applicable based on whether the Fund requires full or partial payment of the Total Subscription amount on or after the Admission Date). If you are subscribing to any Fund that does not require capital calls (unless otherwise set forth in the Memorandum), you also acknowledge and understand that upon submission by you of this completed Subscription Agreement to such Fund or its placement agent and following the date of acceptance of your subscription for a Fund Interest, the Fund has the right, but is not obligated to, trade on the basis of this subscription for Fund Interests notwithstanding that the monies in respect of this subscription have not been received by such Fund.
