Redemptions and Withdrawals Sample Clauses
The 'Redemptions and Withdrawals' clause defines the terms under which investors can redeem or withdraw their funds from an investment vehicle, such as a fund or account. Typically, this clause outlines the notice period required, any applicable fees or penalties, and the timing or frequency with which withdrawals are permitted. Its core practical function is to set clear expectations for both the investor and the fund manager, balancing investor liquidity needs with the operational stability of the investment vehicle.
POPULAR SAMPLE Copied 1 times
Redemptions and Withdrawals. Except as expressly provided in Article III, no Limited Partner shall have the right to redeem its interest in the Partnership, in whole or in part, or to withdraw from the Partnership, except upon receipt of a Majority Vote and with the 33 37 consent of the General Partner. Upon the redemption or withdrawal, in whole or in part, by a Limited Partner, the General Partner shall make the appropriate revisions to Exhibit A hereto.
Redemptions and Withdrawals. Limited Partners will be required to hold their Limited Partnership Interests for a minimum of Twenty-Four (24) months before they may request to withdraw from the Fund and have their Limited Partnership Interests redeemed. Thereafter, a Limited Partner may request withdrawal from the Fund and give at least Ninety (90) days’ prior written notice prior to the General Partner. The Fund will use its best efforts to return capital subject to, among other things, the Fund’s then cash flow, financial condition, and prospective investments in assets. Furthermore, any Limited Partner requesting redemption will be responsible for any third-party costs incurred in effecting such redemption, including but not limited to, bank transaction charges, custody fees, and/or Transfer Agent charges (as applicable). A Limited Partner’s redemption amount shall be based on the capital account balance with the Fund. In requesting for redemption, the Limited Partner shall specify the amount the Limited Partner requests to withdraw and shall be subject to the General Partner’s approval. While the Fund intends to allow Limited Partners to request redemptions on an ongoing basis, the Fund has imposed limitations on the amount of individual redemption requests in order to maintain liquidity to satisfy redemption requests without impacting the Fund’s ability to invest in Loans and properties. Accordingly, each request for withdrawal or redemption shall be limited to per Limited Partner to withdraw the requested amount; provided, however, that the maximum aggregate amount of capital that the Fund will return to the Limited Partners each fiscal year is limited to Ten Percent (10%) of the total outstanding capital of the Fund. Withdrawal requests will be processed by the Fund on a first-come, first-served basis. Limited Partners who wish to withdraw before they have been Limited Partner for Twenty-Four (24) months (“Early Withdrawal”) can only withdraw if the Limited Partner produces evidence of undue hardship, and the General Partner permits Early Withdrawal, in its sole and absolute discretion. Acceptability of a Limited Partner’s hardship will be determined by the General Partner, in its sole and absolute discretion. Limited Partners who request Early Withdrawal will be subject to a penalty of Twenty Percent (20%) of the Limited Partner’s withdrawal proceeds. The General Partner may, at its sole discretion, waive an Early Withdrawal penalty. LIMITED PARTNERSHIP AGREEMENT VELOCE CAP FUN...
Redemptions and Withdrawals. Members will be required to hold their Membership Interests for a minimum of Twelve (12) months before they may request to withdraw from the Company and have their Membership Interests redeemed. Thereafter, a Member may request withdrawal from the Company and give at least Ninety (90) days’ prior written notice prior to the Manager. The Company will use its best efforts to return capital subject to, among other things, the Company’s then cash flow, financial condition, and prospective investments in assets. Furthermore, any Member requesting redemption will be responsible for any third-party costs incurred in effecting such redemption, including but not limited to, bank transaction charges, custody fees, and/or Transfer Agent charges (as applicable). A Member's redemption amount shall be based on the capital account balance with the Company. In requesting for redemption, the Member shall specify the amount the Member requests to withdraw and shall be subject to the Manager's approval. While the Company intends to allow Members to request redemptions on an ongoing basis, the Company has imposed limitations on the amount of individual redemption requests in order to maintain liquidity to satisfy redemption requests without impacting the Company’s ability to invest in Loans and properties. Accordingly, each request for withdrawal or redemption shall be limited to per Member to withdraw the requested amount; provided, however, that the maximum aggregate amount of capital that the Company will return to the Members each fiscal year is limited to Ten Percent (10%) of the total outstanding capital of the Company. Withdrawal requests will be processed by the Company on a first-come, first-served basis. The above requirements regarding the withdrawal amount and the timing of any specific withdrawal may be modified by the Manager, in its sole and absolute discretion, based on, amongst other things, the Company's current cash flow, the amount of the Company's reserves, and the Company's then- current financial condition. However, in the event that the Company amends, suspends or terminates withdrawals, the Company will file an offering circular supplement and/or Form 1-U, as necessary, and inform Members of such amendment. The Manager may at any time suspend the withdrawal of funds from the Company, upon the occurrence of any of the following circumstances: (i) whenever, as a result of events, conditions or circumstances beyond the control or responsibility of the Ma...