Common use of Payments for Repurchases Clause in Contracts

Payments for Repurchases. or Redemptions and Sales of Interests From such funds as may be available for the purpose but subject to the limitations of the Governing Documents of the Fund and any applicable resolutions of the Board of Managers pursuant thereto, the Custodian shall, upon receipt of instructions from the Fund, make funds available for payment to holders of Interests who have delivered to the Fund a request for repurchase of their Interests. In connection with the repurchase of Interests, the Custodian is authorized upon receipt of instructions from the Fund to wire funds to or through a commercial bank designated by the holder of the Interests being repurchased. The Custodian shall receive from the Fund, and deposit as received into the Fund's account, such payments as are received for Interests issued or sold from time to time. The Custodian will provide timely notification to the Fund of any receipt by it of payments for Interests.