Redemption of Membership Interests. All Membership Interests of the Company shall be redeemable as directed by the Member in accordance with this Agreement, at the redemption price determined in the manner set out in this Agreement. The Company shall redeem the Membership Interests of the Company or any series or class thereof at the price determined as hereinafter set forth, upon the appropriately verified application of the Member (or upon such other form of request as the Board of Trustees may determine) at such office or agency as may be designated from time to time for that purpose by the Board of Trustees. The Board of Trustees may from time to time specify additional conditions, not inconsistent with the 1940 Act, regarding the redemption of Membership Interests in the Company's then effective prospectus under the Securities Act of 1933.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (First Defined Portfolio Management Fund LLC), Limited Liability Company Agreement (Ft Defined Portfolio LLC)