Successor Funds. None of the Adviser or any Affiliates of the Adviser may commence the operation of a Successor Fund until the earlier of (1) the end of the Investment Period or (2) the time that at least 75% of the Common Unitholders’ aggregate Capital Commitments have been called pursuant to Section 5.3.
Appears in 11 contracts
Samples: Limited Liability Company Agreement (New Mountain Guardian III BDC, L.L.C.), Merger Agreement (New Mountain Guardian III BDC, L.L.C.), Limited Liability Company Agreement (New Mountain Guardian IV BDC, L.L.C.)
Successor Funds. None of the Adviser or any Affiliates of the Adviser may commence the operation of a Successor Fund until the earlier of (1) the end of the Investment Period or (2) the time that 24 at least 75% of the Common Unitholders’ aggregate Capital Commitments have been called pursuant to Section 5.3.. ARTICLE VI UNITS; DISTRIBUTIONS 6.1
Appears in 1 contract
Samples: Limited Liability Company Agreement (New Mountain Guardian IV Income Fund, L.L.C.)
