Common use of Request for Withdrawal Clause in Contracts

Request for Withdrawal. Members may submit a written request for withdrawal as a Member of the Company and may receive a 75% 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 six (15) 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”). Members may submit a request for withdrawal as a Member of the Company and may receive a 90% 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 (18) months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Members may submit a 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 twenty-four (24) months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Paradyme Equities, LLC 28 Company Agreement The Company will not establish a reserve 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 herein); (ii) adequate reserves have been established for anticipated Company operating costs and other expenses and advances to protect and preserve the Company’s 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 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 withdrawn as set forth in the Withdrawal Request.

Appears in 3 contracts

Samples: Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC)

AutoNDA by SimpleDocs

Request for Withdrawal. Members may submit a written request for withdrawal as a Member of the Company and may receive a 75% 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 six (15) 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”). Paradyme Equities, LLC 28 Company Agreement Members may submit a request for withdrawal as a Member of the Company and may receive a 90% 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 (18) months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Members may submit a 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 twenty-four (24) months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Paradyme Equities, LLC 28 Company Agreement The Company will not establish a reserve 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 ManagerGeneral Partner, Manager and its affiliates as described hereinin 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’s 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 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 withdrawn as set forth in the Withdrawal Request.

Appears in 2 contracts

Samples: Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC)

Request for Withdrawal. Members may submit a written request for withdrawal as a Member of the Company and may receive a 75% 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 six fifteen (15) months; 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”). Members may submit a request for withdrawal as a Member of the Company and may receive a 90% 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 thirty-six (1836) months; months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Members may submit a 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 twentyfourty-four eight (2448) months; months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Paradyme Equities, LLC 28 Company Agreement The Company will not establish a reserve 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 herein); (ii) adequate reserves have been established for anticipated Company operating costs and other expenses and advances to protect and preserve the Company’s 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 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 withdrawn as set forth in the Withdrawal Request.

Appears in 1 contract

Samples: Company Agreement (Paradyme Equities, LLC)

AutoNDA by SimpleDocs

Request for Withdrawal. Members may submit a written request for withdrawal as a Member of the Company and may receive a 75% 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 six (15) 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”). Members may submit a request for withdrawal as a Member of the Company and may receive a 90% 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 (18) months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Members may submit a 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 twenty-four (24) months; and (b) the Member provides the Company with a Withdrawal Request at least ninety (90) days prior to such requested withdrawal. Paradyme Equities, LLC 28 Company Agreement The Company will not establish a reserve 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 herein); (ii) adequate reserves have been established for anticipated Company operating costs and other expenses and advances to protect and preserve the Company’s 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 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 withdrawn as set forth in the Withdrawal Request.

Appears in 1 contract

Samples: Company Agreement (Paradyme Equities, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.