Common use of Redemption at the Option of the Manager Clause in Contracts

Redemption at the Option of the Manager. The Manager may require a Member’s immediate withdrawal as a Member and the redemption of that Member’s Units if a majority of the Manager’s Investment Committee (as defined in the Investment Information Memorandum) determines in its discretion that the Member is not a Qualified Entity. In addition, the Manager shall have the right in its discretion to require a Member’s withdrawal and the redemption of that Member’s Units on such notice as the Manager may in its discretion determine if a majority of the Manager’s Investment Committee determines that such withdrawal and redemption is advisable in view of a Member’s noncompliance with this Agreement or the Member’s terms of subscription for Units or any other conduct by a Member that is deemed detrimental to the Fund.