Common use of Redemption Plan Clause in Contracts

Redemption Plan. The MANAGING MEMBER or BOARD OF DIRECTORS may, in his/its sole discretion and to the fullest extent permitted by applicable laws and regulations, cause the COMPANY to establish a redemption plan (a "REDEMPTION PLAN"), pursuant to which a Shareholder may request that the COMPANY redeem all or any portion of their Shares, subject to the terms, conditions and restrictions of the REDEMPTION PLAN. In his/its sole discretion and to the fullest extent permitted by applicable laws and regulations, the MANAGING MEMBER or BOARD OF DIRECTORS may set the terms, conditions and restrictions of any REDEMPTION PLAN and may amend, suspend, or terminate any such REDEMPTION PLAN at any time for any reason. The MANAGING MEMBER or BOARD OF DIRECTORS may also, in his/its sole discretion and to the fullest extent permitted by applicable laws and regulations, decline any particular redemption request made pursuant to a REDEMPTION PLAN if the MANAGING MEMBER or BOARD OF DIRECTORS believes such action is necessary to preserve the COMPANY'S status as a REIT.