PAYMENTS OF PROCEEDS. Owner proceeds will be delivered to Owner on closing date. Owner hereby irrevocably assigns to Broker the commissions and/or compensations as set forth herein from Owner’s proceeds in escrow or Xxxxxx’s trust account. If escrow or trust account are not used during the transaction, Owner agrees to pay Xxxxxx’s commission within two business days of the sale with cash or cashier’s check only.
PAYMENTS OF PROCEEDS. (a) All distributions to a Member by reason of partial or complete withdrawal from a Series (including, for the avoidance of doubt, by reason of mandatory withdrawal) shall be:
(i) made at a Withdrawal Price determined in accordance with the valuation principles set forth above in Section 4.02; and
(ii) paid, in the sole discretion of the Managing Member, in cash, in Investments or other Assets selected by the Managing Member, or in some combination of cash and Assets as determined by the Managing Member. Any extraordinary costs arising out of the liquidation of Assets necessary to effect such partial or complete withdrawal shall be specifically allocated to the withdrawing Member. If all or any portion of any payment is made in Investments or other Assets, such Investments or other Assets shall be valued at their fair value on the date of such Member’s withdrawal determined in accordance with the standards set out in Section 4.02.
(b) The Managing Member shall give at least 15 days’ prior written notice to each BHCA Member of any proposal to distribute Assets to such BHCA Member and the proposed date of any such distribution, and shall not make any such distribution of Assets to the extent that such BHCA Member advises the Managing Member at least five days prior to the date set forth in such notice for such distribution that such distribution of Assets could reasonably be expected to cause such BHCA Member to violate the BHCA.
(c) Payments for partial withdrawals of less than 90% of the value of a Member’s Capital Account (excluding the value of Assets held in Special Investment Accounts) as of any Withdrawal Date shall be made for the full amount of the withdrawal proceeds, net of any items specified in Section 6.06(d), within seven calendar days after the Withdrawal Date. With respect to payments for withdrawals of 90% or greater of the value of a Member’s Capital Account (excluding the value of Assets held in Special Investment Accounts) as of any Withdrawal Date, the Managing Member may cause the relevant Series to retain up to 10% of the amount that would otherwise be distributed to such Member as a holdback (“Holdback”); provided that any Holdback amount shall not participate in the profits and losses of the relevant Series. Any such Holdback retained when the Gate is triggered shall be in an amount based on 5% of the aggregate balance(s) of a Member’s Capital Account(s) as of the initial Withdrawal Date, as raised or lowered by subsequent profit o...
PAYMENTS OF PROCEEDS. Owner(s) proceeds delivered to Owner(s) at Close of Escrow. Delivery can be inWpWerson, by electronic transfer or by mail.
