Common use of The Series Clause in Contracts

The Series. A Person shall be deemed admitted as a Series Member at the time the Person (A) executes a subscription agreement evidencing the purchase of Series Shares and such Person’s agreement to be bound by the terms of this Agreement, (B) pays the full purchase price for the Series Shares such Person is acquiring, and (C) is listed as a Series Member in the records of the Company. The Manager may, but need not be, a Series Member. The Manager shall have the right to accept or reject the admission of any Person as a Series Member, acting in its sole discretion. Since the offering of Series Shares may remain open until the Issuance Limit of such Series Shares are sold, and there may be multiple closings as set forth in Section 3.1(c)(ii), additional Series Members may be added from time to time, including Series Members that purchase Series Shares in a secondary trading market operated by a registered broker-dealer engaged by the Manager. The Manager must consent to the addition of new Series Members and such Series Members may only be admitted in accordance with this Section 4.1(a)(ii). The name and address of each Series Member admitted to a Series shall be set forth in the records of the Company.

The Series. A Person shall be deemed admitted as a Series Member at the time the Person (A) executes a subscription agreement evidencing the purchase of Series Shares and such Person’s agreement to be bound by the terms of this Agreement, (B) pays the full purchase price for the Series Shares such Person is acquiring, and (C) is listed as a Series Member in the records of the Company. The Manager may, but need not be, a Series Member. The Manager shall have the right to accept or reject the admission of any Person as a Series Member, acting in its sole discretion. Since the offering of Series Shares may remain open until the Issuance Limit of such Series Shares are sold, and there may be multiple closings as set forth in Section 3.1(c)(ii), additional Series Members may be added from time to time, including Series Members that purchase Series Shares in a secondary trading market operated by a registered broker-broker- dealer engaged by the Manager. The Manager must consent to the addition of new Series Members and such Series Members may only be admitted in accordance with this Section 4.1(a)(ii). The name and address of each Series Member admitted to a Series shall be set forth in the records of the Company.