Common use of Purpose of Company Clause in Contracts

Purpose of Company. The Fund is authorized and empowered to elect to operate and to operate, as a business development company under Section 55, et. al. of the Investment Company Act of 1940, as amended. The Fund's principal investment objective is to seek long term capital appreciation by investing primarily in equity securities of private U.S. companies seeking capital for start-up operations, business expansion, product development and/or strategic acquisition opportunities. The Fund may invest in companies of any size, but generally expects to invest in small to medium-sized companies with annual revenues or projected annual revenues in the $2 million to $100 million range. In addition, the Fund may acquire the assets of companies, invest in commercial real estate and invest in the equity, debt or assets of companies of any size which are facing financial difficulties, reorganizing or seeking capital for debt or equity restructuring. Generating current income for distribution to Members will not be a factor in the selection of investments by the Fund.

Purpose of Company. The Fund is authorized and empowered to elect to operate and to operate, as a business development company under Section 55, et. al. of the Investment Company Act of 1940, as amended. The Fund's principal investment objective is to seek long term capital appreciation by investing primarily in equity securities of private U.S. companies seeking capital for start-up operations, business expansion, product development and/or strategic strategy acquisition opportunities. The Fund may invest in companies of any size, but generally expects to invest in small to medium-sized companies with annual revenues or projected annual revenues in the $2 million to $100 million range. In addition, the Fund may acquire the assets of companies, invest in commercial real estate and invest in the equity, debt or assets of companies of any size which are facing financial difficulties, reorganizing in reorganization or seeking capital for debt or equity restructuring. Generating current income for distribution to Members will not be a factor in the selection of investments by the Fund.