Client Transactions Sample Clauses
The 'Client Transactions' clause defines the rules and procedures governing transactions conducted on behalf of or with the client. It typically outlines the types of transactions covered, the responsibilities of each party during the transaction process, and any necessary approvals or documentation required. For example, it may specify how orders are placed, how funds are handled, or how transaction records are maintained. The core function of this clause is to ensure transparency and accountability in client dealings, reducing the risk of misunderstandings or disputes related to transactional activities.
Client Transactions. (a) Orders for the purchase of Fund Shares shall be executed at the then current public offering price per share (i.e., the net asset value per share plus the applicable sales charge, if any) and all orders for the redemption of any Fund Shares shall be executed at the net asset value per share less the applicable deferred sales charge, redemption fee or similar charge or fee, if any. Specifically, orders to purchase and redeem shares of the Fund received by UBS-FS from clients prior to 4:00 p.m. Eastern Time on any day that the Fund is open for business (“Day 1”) will be transmitted to the Fund or the transfer agent for the Fund (the “TA”) no later than 9:00 a.m. Eastern Time on the next day that the Fund is open for business (“Day 2”) (such purchases and redemptions are referred to as “Day 1 Trades”). Orders to purchase and redeem shares of the Fund received by UBS-FS from clients after 4:00 p.m. Eastern Time on Day 1, but prior to 4:00 p.m. Eastern Time on Day 2, will be transmitted to the Fund or the TA no later than 9:00 a.m. Eastern Time on the second day that the Fund is open for business following Day 1 (such purchases and redemptions are referred to as “Day 2 Trades”). Day 1 Trades will be effected at the net asset value of the Fund’s Shares calculated as of the close of business on Day 1, and Day 2 Trades will be effected as of the close of business on Day 2. UBSTCPR agrees that, consistent with the foregoing, Day 1 Trades will have been received by the Fund or the TA prior to the close of business on Day 1 for all purposes, including without limitation, effecting distributions.
(b) UBSTCPR understands that UBS-FS has in place a sales policy with respect to Class B and Class C shares of all funds it offers for sale that, among other things: (i) prohibits soliciting or recommending Class B share purchases in the amount of $50,000 to $249,999; (ii) requires that any unsolicited Class B share purchases in the amount of $50,000 to $249,999 be accompanied by an executed client disclosure letter; and (iii) prohibits single Class B share purchases in the amount of $250,000 or more, whether solicited or unsolicited; (iii) prohibits selling or recommending Class C share purchases in the amount of $1,000,000 or at such breakpoint where Class A shares are offered at NAV or in circumstances where another share class is more suitable based on the client’s anticipated holding period. UBSTCPR understands and agrees that UBS-FS may, from time to time, implement ...
Client Transactions. The following words are added as a second sentence after the words "being Cleared through an Agreed CCP Service." in Section 3(a) of this Addendum: "The parties acknowledge and agree that each Client Transaction qualifies as a "financial contract" within the meaning of Article L.211-1 III of the French Monetary and Financial Code and a transaction on financial instruments within the meaning of Article L.211-36 II of the French Monetary and Financial Code.".