Redemption Program. The Company has established a Redemption Program whereby any Class A or Class A-1 Member having owned its Class A or Class A-1 Membership Interests for at least one year may submit a request to the Company to redeem all or a portion of its Membership Interests. Any request for redemption of Membership Interests must be received by the Company no later than March 1st of the year in which redemption is sought. If the Company accepts such request, it will then have until September 1st of that year to redeem the Membership Interests at a redemption price not less than the proportionate share of 90% of the annual valuation of the Company based on a Member's Adjusted Capital Contribution. The Company will not redeem more than 3% of the Company's total Membership Interests under this program during any given year and has the right to limit any single Member to redemption equaling 1% of the Membership Interests in any one year. If requests for more than 3% are received in a given year, the Board will determine the order of any acceptance of requests. Furthermore, the Board shall be entitled to reject any one or more redemption requests received in order to comply with securities regulations and tax laws, retain the Company's taxable status as a partnership, and for any other reason in the discretion of the Board. The Redemption Program may be amended or suspended at any time by the Board.
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Redemption Program. The Company has established a Redemption Program whereby any Class A or Class A-1 Member having owned its Class A or Class A-1 Membership Interests for at least one year may submit a request to the Company to redeem all or a portion of its Membership Interests. Any request for redemption of Membership Interests must be received by the Company no later than March 1st of the year in which redemption is sought. If the Company accepts such request, it will then have until September 1st of that year to redeem the Membership Interests at a redemption price not less than the proportionate share of 90% of the annual valuation of the Company based on a Member's ’s Adjusted Capital Contribution. The Company will not redeem more than 3% of the Company's ’s total Membership Interests under this program during any given year and has the right to limit any single Member to redemption equaling 1% of the Membership Interests in any one year. If requests for more than 3% are received in a given year, the Board will determine the order of any acceptance of requests. Furthermore, the Board shall be entitled to reject any one or more redemption requests received in order to comply with securities regulations and tax laws, retain the Company's ’s taxable status as a partnership, and for any other reason in the discretion of the Board. The Redemption Program may be amended or suspended at any time by the Board.
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