Redeemed Unit definition
Examples of Redeemed Unit in a sentence
Subject to Section 13.6 herein, as set forth in the Registration Statement, there shall be distributed to the Redeeming Member, in full payment and satisfaction of its Redeemed Unit, an amount equal to the next determined net asset value of the number of Units which it has requested the Company to redeem.
The Board may, in its sole discretion, require and cause the withdrawal of all or any number of a Member's Units (the "Redeemed Unit") at any time.
Any Mandatory Redemption shall be subject to the same terms, conditions and procedures of a Redemption pursuant to the terms hereof; provided, that in no event shall a Redeemed Member be entitled to deliver a Retraction Notice in respect of a Mandatory Redemption; and provided, further, that the minimum Redeemed Unit threshold set forth in the first sentence of Section 11.01(a) shall not apply with respect to any Redeemed Member.
If any Redeeming Member acquired their Redeemed Unit Equivalents after the Closing Date and prior to the completion of the Redemption, this Section 5.5(b) shall apply with respect to the transferor of such Redeemed Unit Equivalents rather than with respect to such Redeeming Member.