Repurchase of Interests. (a) Except as otherwise provided in this Agreement, no member or other person holding an Interest or portion thereof shall have the right to withdraw or tender to the Fund for repurchase that Interest or portion thereof. The Board of Managers from time to time, in its sole discretion and on such terms and conditions as it may determine, may cause the Fund to repurchase Interests or portions thereof pursuant to written tenders. However, the Fund shall not offer to repurchase Interests on more than two occasions during any one Fiscal Year unless it has received an opinion of Fund legal counsel to the effect that such more frequent offers would not cause any adverse tax consequences to the Fund or the Members. In determining whether to cause the Fund to repurchase Interests or portions thereof pursuant to written tenders, the Board of Managers shall consider the recommendation of the Adviser, and shall also consider the following factors, among others:
Appears in 4 contracts
Samples: Bacap Alternative Mult Strategy Fund LLC, Bacap Alternative Mult Strategy Fund LLC, Bacap Alternative Mult Strategy Fund LLC
Repurchase of Interests. (a) Except as otherwise provided in this Agreement, no member Member or other person holding an Interest or portion thereof shall have the right to withdraw or tender to the Fund for repurchase that such Interest or portion thereof. The Board of Managers from time to time, in its sole discretion and on such terms and conditions as it may determine, may cause the Fund to repurchase Interests or portions thereof pursuant to written tenders. However, the Fund shall not offer to repurchase Interests on more than two [two] occasions during any one Fiscal Year [unless it has received an opinion of Fund legal counsel to the effect that such more frequent offers would not cause any adverse tax consequences to the Fund or the Members]. In determining whether to cause the Fund to repurchase Interests or portions thereof pursuant to written tenders, the Board of Managers shall consider the recommendation of the AdviserAdvisor, and shall also consider the following factors, among others:
Appears in 3 contracts
Samples: Liability Company Agreement (Torrey International Strategy Partners LLC), Torrey Multi Strategy Partners LLC, Torrey Us Strategy Partners LLC
Repurchase of Interests. (a) Except as otherwise provided in this Agreement, no member Member or other person holding an Interest or portion thereof shall have the right to withdraw or tender to the Master Fund for repurchase that Interest or portion thereof. The Board of Managers from time to time, in its sole discretion and on such terms and conditions as it may determine, may cause the Master Fund to repurchase Interests or portions thereof pursuant to written tenders. However, the Master Fund shall not offer to repurchase Interests on more than two four occasions during any one Fiscal Taxable Year unless it has received an opinion of Fund legal counsel to the effect that such more frequent offers would not cause any adverse tax consequences to the Master Fund or the Members. In determining whether to cause the Master Fund to repurchase Interests or portions thereof pursuant to written tenders, the Board of Managers shall consider the recommendation of the AdviserManager, and shall also consider the following factors, among others:
Appears in 3 contracts
Samples: Limited Liability Company Agreement (PNC Long-Short Master Fund LLC), Limited Liability Company Agreement (PNC Alternative Strategies Master Fund LLC), Mercantile Alternative Strategies Master Fund LLC
Repurchase of Interests. (a) Except as otherwise provided in this Agreement, no member Member or other person holding an Interest or portion thereof shall have the right to withdraw or tender to the Fund for repurchase that Interest or portion thereof. The Board of Managers from time to time, in its sole discretion and on such terms and conditions as it may determine, may cause the Fund to repurchase Interests or portions thereof pursuant to written tenders. However, the Fund shall not offer to repurchase Interests on more than two occasions during any one Fiscal Year unless it has received an opinion of Fund legal counsel to the effect that such more frequent offers would not cause any adverse tax consequences to the Fund or the Members. In determining whether to cause the Fund to repurchase Interests or portions thereof pursuant to written tenders, the Board of Managers shall consider the recommendation of the Adviser, and shall also consider the following factors, among others:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Oppenheimer Tremont Market Neutral Fund LLC), Limited Liability Company Agreement (Oppenheimer Tremont Opportunity Fund LLC)
Repurchase of Interests. (a) Except as otherwise provided in this Agreement, no member Member or other person holding an Interest or portion thereof shall have the right to withdraw or tender to the Fund for repurchase that Interest or any portion thereof. The Board of Managers may from time to time, in its sole complete and exclusive discretion and on such terms and conditions as it may determine, may cause the Fund to repurchase Interests or portions thereof pursuant to written tenders. However, the Fund shall not offer to repurchase Interests on more than two occasions during any one Fiscal Year unless it has received an opinion of been advised by counsel to the Fund legal counsel to the effect that such more frequent offers would not cause any adverse tax consequences to the Fund or the Members. In determining whether to cause the Fund to repurchase Interests or portions thereof pursuant to written tenders, the Board of Managers shall consider the recommendation of the Adviser, and shall also consider the following factors, among others, in making its determination:
Appears in 1 contract
Samples: Limited Liability Company Agreement (Global Chartist Fund, LLC)
Repurchase of Interests. (a) Except as otherwise provided in this Agreement, no member or other person holding an Interest or portion thereof shall have the right to withdraw or tender to the Fund for repurchase that Interest or portion thereof. The Board of Managers from time to time, in its sole discretion and on such terms and conditions as it may determine, may cause the Fund to repurchase Interests or portions thereof pursuant to written tenders. However, the Fund shall not offer to repurchase Interests on more than two occasions during any one Fiscal Year unless it has received an opinion of Fund legal counsel to the effect that such more frequent offers would not cause any adverse tax consequences to the Fund or the MembersInvestors. In determining whether to cause the Fund to repurchase Interests or portions thereof pursuant to written tenders, the Board of Managers shall consider the recommendation of the Adviser, and shall also consider the following factors, among others:
Appears in 1 contract
