Open-Ended

Open-Ended. Means, with respect to any partnership, limited liability company or other entity or investment vehicle, that such entity or investment vehicle (a) is engaged, or intends to engage, in a continuous offering of its shares or other equity interests on a periodic basis for at least the initial five (5) years of its existence and (b) permits holders of its shares or other equity interests to redeem such shares or interests or otherwise obtain liquidity with respect to such shares or interests on a... periodic or scheduled basis. View More