Working Capital and Reserves. Proceeds of the Offering that are not used to acquire the Asset will be held in the Series bank account for use as Working Capital and Reserves during operation of the Series. If only a small amount of capital is raised, then additional Working Capital and Reserves may need to be accumulated from cash flow during operation of the Asset and any Distributions to the Members may be deferred until such time as sufficient Reserves have been accumulated, at the Manager’s sole discretion.
Appears in 14 contracts
Samples: Series Agreement (Mythic Collection, LLC), Series Agreement (Mythic Collection, LLC), Series Agreement (Mythic Collection, LLC)
