Common use of Redemption in Cash or Securities Clause in Contracts

Redemption in Cash or Securities. All distributions by reason of withdrawals from the Company shall be made in cash, except to the extent that the Board determines that particular withdrawals are to be made in-kind (in whole or in part), in which case the Board shall obtain the consent of the relevant Member for such in-kind withdrawal (except for distributions made pursuant to Section 20.2, in which case such consent is not required). The cash to be paid or Securities to be transferred to a Member with respect to a withdrawal shall have an aggregate net asset value determined for the Member's Redeemed Units. Securities distributed by the Company in-kind will be selected in light of the Company's objectives and will not generally represent a pro rata distribution of each Security held in the Company's portfolio. No interest shall be paid to a Redeeming Member nor shall any other adjustment be made on account of the delay in the transfer of such cash and Securities.

Redemption in Cash or Securities. All distributions by reason of withdrawals from the Company shall be made in cash, except to the extent that the Board determines that particular withdrawals are to be made in-kind (in whole or in part), in which case the Board shall obtain the consent of the relevant Member for such in-kind withdrawal (except for distributions made pursuant to Section 20.2, in which case such consent is not required). The cash to be paid or Securities to be transferred to a Member with respect to a withdrawal shall have an aggregate net asset value determined for the Member's ’s Redeemed Units. Securities distributed by the Company in-kind will be selected in light of the Company's objectives and will not generally represent a pro rata distribution of each Security held in the Company's portfolio. No interest shall be paid to a Redeeming Member nor shall any other adjustment be made on account of the delay in the transfer of such cash and Securities.