Common use of Suspension Events Clause in Contracts

Suspension Events. (a) The Company may suspend the determination of its Net Asset Value, the acceptance of Capital Contributions and the processing of requests for withdrawals (each, a “Suspension Event”): (i) during any period in which any market on which a material part of the Investments of the Company are quoted is closed or has materially limited or suspended dealings; (ii) during the existence of any state of affairs (including the restriction of trading in one or more markets) which, in the opinion of the Managing Member, makes the determination of the price or value, or the disposition of the Company’s Investments, impractical or prejudicial to the Non-Managing Members; (iii) during any breakdown in any of the means normally employed by the Company in ascertaining the value of its Investments and other assets or for any other reason the Managing Member is of the opinion that it cannot reasonably ascertain the value of the Company’s Investments and other assets on the Valuation Date concerned; (iv) during any period where the conversion and remittance of funds which would or might be involved in the realization or acquisition of Investments (whether actual or hypothetical for valuation purposes) could not in the opinion of the Managing Member be carried out at normal rates of exchange and without undue delay; (v) during any period in which distributions or withdrawals would, in the opinion of the Managing Member, result in a violation of applicable law; or (vi) in the event of the dissolution and wind-up of the Company. (b) Any such Suspension Event shall take effect at such time as the Managing Member shall declare but not later than the close of business on the business day next following the declaration, and thereafter there shall be no determination of the Net Asset Value of the Company until the Managing Member shall declare the Suspension Event at an end; provided that such Suspension Event shall terminate in any event on the first business day on which (i) the condition giving rise to the Suspension Event shall have ceased to exist and (ii) no other condition under which the declaration of a Suspension Event is authorized under this Agreement shall then exist. The determination of the Managing Member shall be final and conclusive. (c) All Non-Managing Members shall be notified of any Suspension Event, and the termination of any Suspension Event, by means of a promptly delivered written notice. If monthly withdrawals are suspended as a result of a Suspension Event, withdrawal requests shall be honored as of the last business day of the calendar month next following the termination of such Suspension Event.