Redemptions of Units. (a) Members may not require the Company to redeem Units prior to the dissolution of the Company, except as provided in this Section 5.4.
Redemptions of Units. The Partnership shall follow the Redemption Plan set by the REIT Board in accordance with the Fund REIT Agreement. The Fund REIT shall be deemed to have delivered a redemption notice to the General Partner as of the date on which the Fund REIT receives a redemption notice from a member of the Company for a number and class of Units corresponding to the number and class of units of the Company set forth in such redemption notice.
Redemptions of Units. Converted to Shares of the FUND A Unit Holder has the unlimited right to convert its entire Unit holdings or a part of its Unit holdings into Shares at any time and for any reason the Unit Holder so determines. Each Unit for which it is requested to be converted into Shares shall convert into Shares at a 1:1 conversion ratio. The Managing member has full discretion as to the timing of the redemption of Units for Shares, although such redemption shall not be unreasonably delayed. Once Units are converted to Shares, the Unit Holder converting such Units into Shares is subject to the Redemption Plan of the Fund on an equal basis as to and with any Shareholders of the Fund. LIMITED LIABILITY COMPANY OPERATING AGREEMENT PHAT HOLDING LLC a Delaware Limited Liability Company SECTION 10 - DUTIES; LIABILITY; INDEMNIFICATION
Redemptions of Units. Outstanding Units of the Joint Account may be redeemed at the option of the Participants that are the holders thereof, on any Business Day by giving notice to the Investment Administrator in the manner described in the Program’s then current Information Statement. The Investment Administrator shall cause the Program to redeem or repurchase from such Participant outstanding Units for an amount per Unit at the then net asset value as determined pursuant to Article VII hereof, and in accordance with the current Information Statement. The procedures for effecting redemption shall be as set forth in the current Information Statement.
Redemptions of Units. (a) Each Limited Partner may, by notice to the Fund, at any time on or before either June 15 or December 15 during any Fund Year, tender all or any portion of such Limited Partner’s Units for redemption, provided that in the event of a partial redemption, the Limited Partner must maintain a Capital Account, after giving effect to the withdrawal, of at least One Hundred Thousand Dollars ($100,000). The General Partner in its discretion may waive the notice period and minimum investment restrictions. The General Partner may, by notice to the Fund on or before either June 30 or December 31 of any Fund Year, tender any portion of its Units for redemption, subject to the limitations set forth in Section 3.2(a) hereof. Any such notice shall specify the number of Units, or the percentage of such Partner’s Units, tendered for redemption. The Fund shall, subject to the limitations of Section 6.2(b) hereof and other limitations set forth in this Agreement, redeem all Units tendered for redemption at a price of $25,000 per Unit. Any redemption of Units pursuant to this Section 6.2(a) shall be effective upon the close of business on June 30, with respect to any Units tendered for redemption on or before June 15 (or, in the case of the General Partner, June 30) in any Fund Year, or December 31, with respect to any Units tendered for redemption after June 15 but on or before December 15 (or, in the case of the General Partner, after June 30 but on or before December 31) in any Fund Year, immediately after the redetermination of Units pursuant to Section 6.1 hereof on such date. The Fund shall issue payment, in cash, of the redemption price within 7 days after the close of the fiscal period. Notwithstanding the foregoing, the General Partner may delay the payment of the redemption price to the extent necessary, in the opinion of the General Partner, in order to effect orderly liquidations of Portfolio Investments in a manner that is not detrimental to the Fund or the Fund’s remaining Partners, in which event any such delayed payment shall be made as soon thereafter as is practicable.
Redemptions of Units
