Common use of Reinvestment of Distributions Clause in Contracts

Reinvestment of Distributions. Upon authorization of the Manager, each Member shall be permitted to reinvest Distributions for the purchase of additional Units, subject to the determination by the Manager that, in the case of each such reinvestment, the Member has provided advance written notice to the Manager of its election to reinvest Distributions on such form and within such times as established by the Manager. Pursuant to a valid election, a Member may elect to receive a portion of Distributions from the LLC in cash and the remainder reinvested. If no election is made, then the Distribution will be a cash distribution. In the event a Member is permitted to reinvest Distributions, such reinvestment shall be at the purchase price of $1.00 per Unit, unless changed by the Manager in good faith and with prior notice to the Members. No transaction fees shall be charged to a Member who elects to reinvest and the election to reinvest shall apply both to Units held at the time of the election and Units subsequently acquired pursuant to reinvestment. To terminate an election to reinvest, a Member must notify the Manager in writing of its termination on such form as established by the Manager and such revocation will be effective for distributions related to the first month following the month in which the revocation notice is received, which are paid, if at all, in the second month following the month in which the revocation notice is received. The Manager, in its sole and absolute discretion, may terminate reinvestment of Distributions. If, in the opinion of the Manager, the reinvestment of distributions by an ERISA Member equal or exceed or would, after giving effect to the admission of any ERISA Member(s), equal or exceed twenty-five percent (25%) of the aggregate Capital Contributions of (or the value of any other interests of or the Units held by), as applicable, of all Members, then the Manager shall not permit such Member to reinvest distributions.

Reinvestment of Distributions. Upon authorization of the Manager, each Member shall be permitted to reinvest Distributions for the purchase of additional UnitsUnits of the same class associated with such Distributions, subject to the determination by the Manager that, in the case of each such reinvestment, the Member has provided advance written notice to the Manager of its election to reinvest Distributions on such form and within such times as established by the Manager. Pursuant to a valid election, a Member may elect to receive a portion of Distributions from the LLC Company in cash and the remainder reinvested. If no election is made, then the Distribution will be a cash distribution. In the event a Member is permitted to reinvest Distributions, such reinvestment shall be at the purchase price of $1.00 per Unit, unless changed by the Manager in good faith and with prior notice to the Members. No transaction fees shall be charged to a Member who elects to reinvest and the election to reinvest shall apply both to Units held at the time of the election and Units subsequently acquired pursuant to reinvestment. To terminate an election to reinvest, a Member must notify the Manager in writing of its termination on such form as established by the Manager and such revocation will be effective for distributions related to the first month following the month in which the revocation notice is received, which are paid, if at all, in the second month following the month in which the revocation notice is received. The Manager, in its sole and absolute discretion, may terminate reinvestment of Distributions. If, in the opinion of the Manager, the reinvestment of distributions by an ERISA Member equal or exceed or would, after giving effect to the admission of any ERISA Member(s), equal or exceed twenty-five percent (25%) of the aggregate Capital Contributions of (or the value of any other interests of or the Units held by), as applicable, of all Members, then the Manager shall not permit such Member to reinvest distributions.