Share Redemption Program definition
Examples of Share Redemption Program in a sentence
A Series Board (to the extent the applicable transaction involves the applicable Series) may, from time to time, and in its complete and exclusive discretion and on such terms as it may determine, cause the applicable Series to offer to redeem Shares from Series Members of the applicable Series pursuant to the Share Redemption Program.
Notwithstanding anything in this Agreement but subject to the Act and any applicable limitations set forth in the Share Redemption Program, each Series is hereby authorized to redeem all or any portion of the I Squared Shares upon such terms and conditions as the applicable Series and the applicable I Squared Member may agree from time to time without the consent of any other Person.
If any Series requires the mandatory redemption of any Shares of any Member, such redemption will not be subject to the redemption limits under the Share Redemption Program, including any redemption limitations set forth therein, unless otherwise determined by the Series Board, in its sole discretion; provided that, for the avoidance of doubt, such Member or its assignee whose Shares are being mandatorily redeemed may be subject to the Early Redemption Fees in accordance with the Share Redemption Program.
Any modifications deemed material by the applicable Series to the Share Redemption Program require the approval of the applicable Series Board.
Other than as provided in Section 10.8 with respect to I Squared Members, a Member may resign from its Series only by having all of such Member’s Shares redeemed pursuant to Section 10.8, Section 10.9 or pursuant to the Share Redemption Program, or by assigning all of such Member’s Shares in accordance with this Article X.
Capitalized terms not defined herein shall have the meaning ascribed to them in the Share Redemption Program.