Manner of Payment. Payment of Shares redeemed or repurchased may at the option of the Trustees or such officer or officers as they may duly authorize for the purpose, in their complete discretion, be made in cash, or in kind, or partially in cash and partially in kind. In case of payment in kind the Trustees, or their delegate, shall have absolute discretion as to what security or securities shall be distributed in kind and the amount of the same, and the securities shall be valued for purposes of distribution at the figure at which they were appraised in computing the net asset value of the Shares, provided that any Shareholder who cannot legally acquire securities so distributed in kind by reason of the prohibitions of the 1940 Act shall receive cash.
Appears in 82 contracts
Samples: Agreement and Declaration of Trust (John Hancock Tax-Advantaged Global Shareholder Yield Fund), Agreement and Declaration (Eaton Vance Floating-Rate 2022 Target Term Trust), Agreement and Declaration of Trust (Eaton Vance Floating-Rate 2024 Target Term Trust)
Manner of Payment. Payment of Shares redeemed or repurchased may at the option of the Trustees or such officer or officers as they may duly authorize for the purpose, in their complete discretion, be made in cash, or in kind, or partially in cash and partially in kind. In case of payment in kind the Trustees, or their delegate, shall have absolute discretion as to what security or securities shall be distributed in kind and the amount of the same, and the securities shall be valued for purposes of distribution at the figure at which they were appraised in computing the net asset value of the Shares, provided that any Shareholder who cannot legally acquire securities so distributed in kind by reason of the prohibitions of the 1940 Act shall receive cash.
Appears in 11 contracts
Samples: Healthcare Fund Agreement (Highland Premium Long/Short Healthcare Fund), Fund Agreement (Highland Premium Dividend Fund), Agreement and Declaration of Trust (Rochdale International Trade Fixed Income Fund)
Manner of Payment. Payment of Shares redeemed or repurchased may at the option of the Trustees or such officer or officers as they may duly authorize for the purpose, in their complete discretion, be made in cash, or in kind, or partially in cash and partially in kind. In case of payment in kind the Trustees, or their delegate, shall have absolute discretion as to what security or securities shall be distributed in kind and the amount of the same, and the securities shall be valued for purposes of distribution at the figure at which they were appraised in computing the net asset value of the Common Shares, provided that any Shareholder who cannot legally acquire securities so distributed in kind by reason of the prohibitions of the 1940 Act shall receive cash.
Appears in 4 contracts
Samples: Amended and Restated Agreement (Ev Classic Senior Floating Rate Fund /Ma/), Eaton Vance (Eaton Vance Advisers Senior Floating Rate Fund), Eaton Vance Prime Rate Reserves (Eaton Vance Prime Rate Reserves)
Manner of Payment. Payment of Shares redeemed or repurchased may repurchased, at the option of the Trustees or such officer or officers as they may duly authorize for the purpose, in their complete discretion, may be made in cash, or in kind, or partially in cash and partially in kind. In case of If payment is made in kind kind, the Trustees, or their delegate, shall have absolute discretion as to what security or securities shall be distributed in kind and the amount of the same, and the securities shall be valued for purposes of distribution at the figure at which they were appraised in computing the net asset value of the Shares, provided that any Shareholder who cannot legally acquire securities so distributed in kind by reason of the prohibitions of the 1940 Act shall receive cash.
Appears in 1 contract
Samples: Highland Capital Fixed Income Fund
