Common use of Expenses Payable by the Managing Member Clause in Contracts

Expenses Payable by the Managing Member. In consideration for the issuance of the Class B Shares upon the formation of each Series, the Managing Member shall fund without reimbursement (a) all Abort Costs associated with an Offering of the Series that fails to be completed, and (b) the Brokerage Fee payable to the Broker upon a successful Closing of an Offering by the Series.