<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2007-01-26</periodOfReport>

    <dateOfOriginalSubmission>2007-02-05</dateOfOriginalSubmission>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001377269</issuerCik>
        <issuerName>Tennenbaum Opportunities Fund V, LLC</issuerName>
        <issuerTradingSymbol>N/A</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001194963</rptOwnerCik>
            <rptOwnerName>NOREEN CLIFFORD M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>BABSON CAPITAL MANAGEMENT LLC</rptOwnerStreet1>
            <rptOwnerStreet2>1500 MAIN STREET P O BOX  15189</rptOwnerStreet2>
            <rptOwnerCity>SPRINGFIELD</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01115</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Officer of Investment Co-Mngr</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>This is a re-submission of the Form 3 originally filed on 02/05/07. The original Form 3 was filed in error using an incorrect CIK number. See ascension number 0000275694-07-000022 for reference.</remarks>

    <ownerSignature>
        <signatureName>Clifford Noreen</signatureName>
        <signatureDate>2009-12-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
