Incentive Allocation. (a) So long as the Adviser serves as the Special Advisory Member of the Fund, the Incentive Allocation shall be debited against the Capital Account of each Member (other than the Adviser) as of the last day of each Allocation Period with respect to such Member and the amount so debited shall be credited to the Special Advisory Account, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of such Members as have been designated in any written notice delivered by the Adviser to the Fund within 90 days after the close of such Allocation Period.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Curan Fund LLC), Curan Fund LLC, Beaumont Fund LLC
Incentive Allocation. (a) So long as the Adviser (or an affiliated company that it has designated to be the Special Advisory Member) serves as the Special Advisory Member of the Fund, the Incentive Allocation shall be debited against the Capital Account of each Member (other than the Adviser) as of the last day of each Allocation Period with respect to such Member and the amount so debited shall simultaneously be credited to the Special Advisory Account, or, subject to compliance with the 1940 Act and the Advisers Act, to the Capital Accounts of such Members as have been designated in any written notice delivered by the Adviser to the Fund within 90 days after the close of such Allocation Period.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Oppenheimer Tremont Opportunity Fund LLC), Limited Liability Company Agreement (Oppenheimer Tremont Market Neutral Fund LLC)
