Common use of Allocation of Organizational Expenses Clause in Contracts

Allocation of Organizational Expenses. (a) Organizational Expenses initially shall be borne by the Advisor or an affiliate, who shall be reimbursed for such expenses by the Company over a period not to exceed 12 months from the Closing Date. Such reimbursements shall be allocated among and debited against the Capital Accounts of the Members during such 12-month period in accordance with the value of their respective Capital Accounts on each applicable Expense Allocation Date. (b) If the Advisor is fully reimbursed before the 12-month anniversary of the Closing Date, as of each Expense Allocation Date during the remainder of such 12-month period, all amounts previously debited against the Capital Account of a Member pursuant to this Section 5.16 on the preceding Expense Allocation Date shall be credited to the Capital Account of such Member, and Organizational Expenses shall then be re-allocated among and debited against the Capital Accounts of all Members in accordance with the balance of their respective Capital Accounts on such Expense Allocation Date.

Allocation of Organizational Expenses. (a) Organizational Expenses initially shall be borne by the Advisor Adviser or an affiliate, who shall be reimbursed for such expenses by the Company over a period not to exceed 12 months from the Closing Date. Such reimbursements shall be allocated among and debited against the Capital Accounts of the Members during such 12-month period in accordance with the value of their respective Capital Accounts on each applicable Expense Allocation Date. (b) If the Advisor Adviser is fully reimbursed before the 12-month anniversary of the Closing Date, as of each Expense Allocation Date during the remainder of such 12-month period, all amounts previously debited against the Capital Account of a Member pursuant to this Section 5.16 5.10 on the preceding Expense Allocation Date shall be credited to the Capital Account of such Member, and Organizational Expenses shall then be re-allocated among and debited against the Capital Accounts of all Members in accordance with the balance of their respective Capital Accounts on such Expense Allocation Date.

Allocation of Organizational Expenses. (a) Organizational Expenses initially shall be borne by the Advisor or an affiliateAdviser, who shall be reimbursed for such expenses by the Company over a period not to exceed 12 months from the Closing Date. Such reimbursements shall be allocated among and debited against the Capital Accounts of the Members during such 12-month period in accordance with the value of their respective Capital Accounts on each applicable Expense Allocation Date. (b) If the Advisor Adviser is fully reimbursed before the 12-month anniversary of the Closing Date, as of each Expense Allocation Date during the remainder of such 12-month period, all amounts previously debited against the Capital Account of a Member pursuant to this Section 5.16 5.10 on the preceding Expense Allocation Date shall be credited to the Capital Account of such Member, and Organizational Expenses shall then be re-allocated among and debited against the Capital Accounts of all Members in accordance with the balance of their respective Capital Accounts on such Expense Allocation Date.