Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company’s assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company’s assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, including systematic transactions, (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”), (iii) as allowed under the Contracts, e.g., for fees, payment of claims or annuitization, or (iv) as permitted by the SEC pursuant to an Order under Section 26(c) of the 1940 Act. Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be a licensed attorney in good standing with his or her state bar) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company's assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, (ii) as allowed under the terms of the prospectus for the Contract; (iii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a "Legally Required Redemption"). Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company’s assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon reasonable request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company's assets held in the Separate Accounts) except (i) as necessary to implement Contractholder-initiated transactions (including any transaction executed pursuant to the terms of the Contract, such as payment of a death benefit or deduction of charges or fees), or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a "Legally Required Redemption"). Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. MassMutual shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to MassMutual’s assets held in the Account) except (i) as necessary to implement Contract owner-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon request, MassMutual will promptly furnish to the Series and AFD an opinion of counsel for MassMutual (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption. [page break]
Limitations on Redemptions. The Managing Member may, in its sole discretion, suspend redemptions, at any time prior to the effective date of the redemption, and notwithstanding the fact that a timely redemption request has previously been made, for the whole, or any part, of any of the following periods: (i) during the closure of the principal stock exchanges or other markets on which any substantial portion of the Company's direct or indirect investments, in the opinion of the Managing Member, is quoted or dealt in other than for ordinary holidays, or the restriction of suspension of dealings therein; (ii) during the existence of any state of affairs which, in the opinion of the Managing Member, constitutes an emergency as a result of which the determination of the price, value or disposition of the Company's direct or indirect investments would be impractical or prejudicial to Members; (iii) during which redemptions would, in the opinion of the Managing Member, result in a violation of applicable law; (iv) during any breakdown in the means of communication or computation normally employed in determining the price or value of any of the investments of the Company or the current price or values on any stock exchange in respect of assets of the Company; (v) during the occurrence of any period when the Company is unable to withdraw sufficient funds from investment funds or Portfolio Companies or otherwise to meet redemption requests or in circumstances when the disposal of part or all of the Company's assets to meet such redemption requests would be prejudicial to Members; (vi) during which any transfer of funds involved in the realization or acquisition of investments or payments due on redemption of Units cannot, in the opinion of the Managing Member, be effected at advantageous rates of exchange; and (vii) during any period in which any investment fund or Portfolio Company in which the Company has invested has suspended redemptions or the calculation of its net asset value. Postponed redemptions shall be effected on the first day of the month immediately following the termination of the suspension. Any part of a redemption request that is postponed shall take precedence over later-received redemption requests until the postponed request or requests have been satisfied in full. Non-Managing Members shall be given notice in writing of the suspension of redemptions and the termination of any such suspension. Units shall be held by the Non-Managing Member during the suspension period as...
Limitations on Redemptions. Subject to Section 2(h) and the last sentence of Section 2(i), as of September 30, 2010 and as of any last Business Day of each calendar quarter-end following September 30, 2010 (each such date, a “Redemption Date”), a redemption of shares in the Fund may be made, no such redemption in the aggregate to PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. exceed the greater of (i) $60 million and (ii) an amount such that, following any such redemption, the Net Asset Value of the Fund upon the effective Redemption Date shall equal the Minimum Investment Amount less the product of (x) $60 million and (y) the number of completed calendar quarters commencing with the calendar quarter ending on September 30, 2010 and ending on, and including, such Redemption Date.
Limitations on Redemptions. C.M. Life shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to C.M. Life’s assets held in the Account) except (i) as necessary to implement Contract owner-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon request, C.M. Life will promptly furnish to the Series and AFD an opinion of counsel for C.M. Life (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Investment Advisor may deny any redemption request if the Investment Advisor determines in its reasonable discretion that making a redemption pursuant thereto may (i) adversely affect the ability of any U.S. Entity (including the Redemption Vehicle that would be formed in connection with such redemption) to qualify as a "Venture Capital Operating Company" within the meaning of ERISA; or (ii) have material adverse tax or regulatory consequences for Investors.
