Illiquid Securities. Customer understands that there is a restricted market for illiquid securities and that, therefore, it may be difficult to deal in such securities or to obtain reliable information about their value. Customers who choose to trade in illiquid securities assume a larger risk.
Illiquid Securities. Such Lender is aware that no public market exists for the Company’s securities, and despite the fact that the Company is planning to conduct an initial Public Offering, there can be no assurance that such Public Offering will be completed or that a public market will ever be created for any of the Company’s securities. As such, Lender understands that it may be required to hold the Bridge Securities for an indefinite period of time (subject to the maturity provisions of the Secured Promissory Notes).
Illiquid Securities. The Fund has percentage limitations that apply to purchases of illiquid securities, as stated in the Prospectus. As a matter of fundamental policy, the Fund cannot purchase any securities that are subject to restrictions on resale.
Illiquid Securities. Markets in illiquid securities may be underdeveloped compared to other markets and there may be an absence of liquidity. This means that it may be difficult to dispose of the investment and also there may be more volatility in the price of the in- vestment with the consequence that you may suffer greater loss. Such investments carry a significant amount of risk and may therefore be unsuitable for you. The value of income from such investments may fluctuate. You should only consider such an investment if you are knowledgeable about and experienced in the relevant areas so that you are able to assess the risks entailed in making the investment.
Illiquid Securities. If the Lead Investors receive an illiquid security of the Company, any of its Subsidiaries or any third party (an “Illiquid Security”) in connection with a Drag Along Transaction and the Co-Investors receive the same Illiquid Security as a result of the Drag Along Transaction, then the Company will use commercially reasonable efforts to provide the Co-Investors, with respect to such Illiquid Security, with relative rights and obligations in such Illiquid Security on terms and conditions no less favorable in any material respect to their relative rights and obligations under this Agreement.
Illiquid Securities. If any illiquid or unmarketable securities are transferred into an Account of Client and Summit wishes to liquidate such securities but such securities cannot be promptly liquidated, the securities must be transferred out of the Account or disposed of by Client within thirty (30) days after notice is sent to Client.
Illiquid Securities. Seller realizes that the Series C Preferred Shares and Conversion Shares cannot readily be sold as they will be restricted securities and therefore the Series C Preferred Shares and Conversion Shares must not be accepted unless such Seller has liquid assets sufficient to assure that holding such Series C Preferred Shares and Conversion Shares indefinitely will cause no undue financial difficulties and such Seller can provide for current needs and possible personal contingencies.
Illiquid Securities. The LPA will oversee illiquid investment to assure compliance with the following. Rule 22e-4 requires that each Fund limit its investments in LC4 assets to no more than 15% of the Fund's net assets. Rule 22e-4 prohibits a Fund from acquiring any illiquid investment if, immediately after the acquisition, the Fund's investment in illiquid "investments that are assets" is more than 15% of the Fund's net assets. If a Fund exceeds the 15% limit, the LPA is required to notify the Board within one business day with an explanation of the extent and causes of the event, and a plan for how the Fund will be brought back into compliance with the 15% limit within a reasonable period. If the 15% limit remains exceeded for 30 days, the Board, including a majority of its members who are not interested persons, must assess whether the plan presented to it by the LPA continues to be in the best interest of the Fund.
Illiquid Securities. Subject to any more restrictive applicable investment policy, the Portfolio will not maintain more than 15% of its net assets in illiquid securities. Illiquid securities will generally include direct placements or other securities that are subject to legal or contractual restrictions on resale or for which there is no readily available market (e.g., when trading in the security is suspended or, in the case of unlisted securities, when market makers do not exist or will not entertain bids or offers) and repurchase agreements not terminable within seven days. Because of the absence of a trading market for illiquid securities, the Portfolio may not be able to realize their full value upon sale. The Adviser will monitor the illiquidity of such securities with respect to the Portfolio under the supervision of the Directors of the Fund. To the extent permitted by applicable law, securities that may be resold pursuant to Rule 144A under the Securities Act of 1933, as amended ("the "Securities Act") ("Rule 144A securities") will not be treated as "illiquid" for purposes of the foregoing restriction so long as such securities meet liquidity guidelines established by the Fund's Directors. The Portfolio may not be able to readily sell securities for which there is no ready market.
Illiquid Securities. At the time of the Company's dissolution for any reason, the Board of Managers may determine in its sole discretion that it would not be prudent to sell at such time certain of the Company's securities in connection with the dissolution because of a lack of liquidity or otherwise. In such event, any Securities not sold as part of the dissolution shall be assigned to a trustee who shall collect all sums that may become due and payable with respect to such securities and who shall have full power to vote and dispose of such securities in such manner as it deems in its sole good faith business judgment is in the best interest of the Members receiving the proceeds of the dissolution.
