Automatic Redemptions Sample Clauses
The Automatic Redemptions clause establishes a process by which certain securities or interests are redeemed by the issuer without requiring action from the holder. Typically, this clause outlines specific conditions or events—such as reaching a maturity date, triggering a financial threshold, or regulatory requirements—that automatically initiate the redemption process. Its core practical function is to provide predictability and efficiency in managing outstanding securities, ensuring that redemptions occur smoothly and in accordance with predefined terms, thereby reducing administrative burdens and potential disputes.
Automatic Redemptions. If the Fund reports net inflows in its Order Flow Report and ReFlow holds Shares of the Fund, ReFlow shall automatically redeem an amount of Shares equal to the lesser of (a) the net number of Shares sold as reported in the Order Flow Report; or (b) the number of Shares owned by ReFlow. ReFlow may, in its sole discretion, adopt additional automatic redemption policies, pursuant to which ReFlow shall redeem Shares, regardless of whether a Participating Fund remains in a state of net redemptions. Any such policy shall be disclosed on ReFlow’s website. Any policy shall apply uniformly to all Participating Funds, and any change to a policy shall apply only in respect of Shares of the Fund purchased after such policy is disclosed. The Fund shall effect all automatic redemption orders at the NAV of the Fund calculated at Market Close that day. ReFlow reserves the right to cancel automatic redemptions at any time prior to Market Close on any Business Day, provided that it provides notice of the cancellation on its website or through alternative means specified by ReFlow.