Interest and Contribution
Availability of Interest
Interest in the Program may be purchased at any time, subject to the discretion of the Manager, until the Program determines not to offer any additional Interests or is no longer accepting additional investments. The Manager may, in its discretion, elect to temporarily or permanently suspend the offering of additional Interests.
There may be a delay in the investment of proceeds due to limitations imposed by the Program or other timing concerns. During such periods, the Program may refuse to accept the investment, or may deposit the amount of any investment in bank or other interest-bearing accounts or invest in money market funds, other short-term liquid investment vehicles or instruments and/or U.S. Treasury bills. The Program will invest such assets at the next date available for such investment. Interest earned on the proceeds during the interim period will be paid to the Program.
Capital Contribution
Each Member admitted into the Program is required to pay its initial capital contribution in full at the time of its admission. Thereafter, Members may be permitted to make capital contributions at any time provided that the Program is continuing to accept additional investments, and is at the discretion of the Manager. Current Members of the Program are not obligated to make additional capital contributions to the Company.
For additional provision regarding Capital Contribution, such as participation in Net Assets (Capital Account) or Membership Interest, see Article II) of the Operating Agreement.