Common use of Redemption and Payment Dates Clause in Contracts

Redemption and Payment Dates. Notwithstanding any provision herein to the contrary, and subject to applicable Law, the Board may (i) suspend the right of redemption or (ii) postpone the payment of redemption proceeds for up to seven days if the Board determines that: (A) making such payment would result in an Impermissible Event, or (B) liquidating investment assets in order to make such payment would adversely affect the continuing Members. The Board shall have no liability for suspending the right of redemption or postponing any redemption payment, provided that the Board did not act in bad faith in doing so. The Board may further suspend the right of redemption or postpone the payment of redemption proceeds as otherwise permissible under the Investment Company Act.