Withdrawal and Redemption Clause Samples
The 'Withdrawal and Redemption' clause defines the terms under which an investor or participant can remove their funds or interests from an investment vehicle, such as a fund or partnership. Typically, this clause outlines the notice period required, any applicable fees or penalties, and the process for requesting and receiving the withdrawn or redeemed amount. Its core function is to provide a clear and predictable mechanism for exiting the investment, thereby managing liquidity and protecting both the investor's and the entity's interests.
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Withdrawal and Redemption. No Member may withdraw within the first 12 months of a Members admission to the Company. Thereafter, the Company will use its best efforts to honor requests for a return of capital subject to, among other things, the Company then available cash flow, ▇▇▇▇▇▇▇ Homes ▇▇▇▇▇▇▇ Loans | 16 Company Operating Agreement financial condition, and approval by the Manager. The maximum aggregate amount of capital that the Company will return to the Members each calendar year is limited to 10.0% of the value of the assets of the Company as of December 31 of the prior year. Notwithstanding the foregoing, the Manager may, in its sole discretion, waive such withdrawal requirements if a Member is experiencing undue hardship. Members may submit a written request for withdrawal as a Member of the Company and may receive a 100% return of capital provided that the following conditions have been met: (a) the Member has been a Member of the Company for a period of at least twelve (12) months; and (b) the Member provides the Company with a written request for a return of capital at least ninety (90) days prior to such withdrawal (Withdrawal Request.). The Company will not establish a reserve bank from which to fund withdrawals of Members capital accounts and such withdrawals are subject to the availability of cash in any calendar quarter to make withdrawal distributions (Cash Available for Withdrawals) only after: (i) all current Company expenses have been paid (including compensation to the Manager, Manager and its affiliates as described in this Offering Circular); (ii) adequate reserves have been established for anticipated Company operating costs and other expenses and advances to protect and preserve the Company investments in Properties; and (iii) adequate provision has been made for the payment of all monthly cash distributions owing to Members. If at any time the Company does not have sufficient Cash Available for Withdrawals to distribute the quarterly amounts due to all Members that have outstanding withdrawal requests, the Company is not required to liquidate any of our development Properties for the purpose of liquidating the capital account of withdrawing Members. In such circumstances, the Company is merely required to distribute that portion of the Cash Available for Withdrawals remaining in such quarter to all withdrawing Members pro rata based upon the relative amounts being withdrawal as set forth in the Withdrawal Request. Notwithstanding the foregoing, the Manage...
Withdrawal and Redemption. Holders of Preferred Units may withdraw as a member of the Series and may redeem their Preferred Units provided the following conditions have been met: (a) the Preferred Unit holder has owned the units for a period of at least six (6) months (calculated from the date that the Subscription for the Preferred Units was accepted and the investor’s assets were transferred to the Fund custodian); and (b) the Preferred Unit Holder provides the Series with a written request to redeem their Preferred Units at least ninety (90) days prior to such withdrawal. The Series Manager and Fund Administrator(s) will use their best efforts (subject to the Series Manager’s sole discretion as discussed herein) to honor redemption requests subject to, among other things, the Series’ and Fund’s existing cash flow, financial condition, securities portfolio and prospective liabilities. Each request for a return of capital (redemption) should be limited to twenty five percent (25%) of such Preferred Unit Holder’s capital account balance such that it will take at least four (4)
Withdrawal and Redemption. (a) LED Effects and LED Holdings hereby agrees that as of the Effective Date and concurrently with the transfer of the Redeemed Interest, LED Effects shall and hereby does withdraw as a member of LED Holdings.
(b) LED Holdings hereby transfers, grants and conveys to LED Effects the LSG Common Stock and LED Effects hereby receives, assumes and accepts the LSG Common Stock from LED Holdings in full and complete liquidation of LED Effects’ Membership Interest in LED Holdings.
(c) LED Effects hereby transfers, grants and conveys to LED Holdings the Redeemed Interest and LED Holdings hereby receives, assumes and accepts the Redeemed Interest from LED Effects. LED Effects and LED Holdings agree that this Redeemed Interest includes all rights, interests, and obligations, whether known or unknown, contingent or otherwise, that may be allocable to the Redeemed Interest, including, without limitation, all of LED Effects’ proportionate right, title, and interest in and to the business, properties, and assets of LED Holdings allocable or attributable to the Redeemed Interest, and to the capital, distributions, profits, and losses of LED Holdings or its successors allocable or attributable to the Redeemed Interest.
Withdrawal and Redemption