Common use of Conversion of Units Clause in Contracts

Conversion of Units. A Unitholder may convert some or all of its Units in one Class (the "Original Class") to Units in another Class (the "New Class"), provided such a Unitholder qualifies for investment in the New Class, by requesting a redemption of their Units in the Original Class and a simultaneous application the redemption proceeds in paying up for the subscription of the Units of the New Class. Units may be converted on a Conversion Day. Requests for conversion must be received by the Depositary before the Conversion Deadline. The Conversion Day and the Conversion Deadline are set out in Annex A for each Sub-Fund. Requests received after the Conversion Deadline will be recorded for conversion on the next following Valuation Day. The UCITS Management Company, acting in the best interest of the Unitholders, may at any time reject conversion applications or temporarily limit or suspend such conversion. The number of Units of the New Class to be issued is calculated in accordance with the following formula: NNS = (NOS * POS * EXR ) , PNS where is the number of Units of the New Class; is the number of Units of the Original Class; is the Redemption Price per Unit in the Original Class as of the relevant Valuation Day; is the exchange rate used for currency conversions (if any) as determined by the Administrator; and is the Subscription Price per Unit in the New Class as of that same Valuation Day. The Management Company may effect a compulsory conversion of Units (i) if a Unitholder ceases to fulfil or has never met the requirements of the Class he or she is invested in; or (ii) to give effect to any conversion, transfer, restructuring, split, merger, termination or roll-up policy.

Conversion of Units. A Unitholder may convert some or all of its Units in one Class (the "Original Class") to Units in another Class (the "New Class"), provided such a Unitholder qualifies for investment in the New Class, by requesting a redemption of their Units in the Original Class and a simultaneous application the redemption proceeds in paying up for the subscription of the Units of the New Class. Units may be converted on a Conversion Day. Requests for conversion must be received by the Depositary before the Conversion Deadline. The Conversion Day and the Conversion Deadline are set out in Annex A for each Sub-Fund. Requests received after the Conversion Deadline will be recorded for conversion on the next following Valuation Day. The UCITS Management Company, acting in the best interest of the Unitholders, may at any time reject conversion applications or temporarily limit or suspend such conversion. The number of Units of the New Class to be issued is calculated in accordance with the following formula: NNS =  (NOS * POS * EXR EXR) , PNS where is the number of Units of the New Class; is the number of Units of the Original Class; is the Redemption Price per Unit in the Original Class as of the relevant Valuation Day; is the exchange rate used for currency conversions (if any) as determined by the Administrator; and is the Subscription Price per Unit in the New Class as of that same Valuation Day. The Management Company may effect a compulsory conversion of Units (i) if a Unitholder ceases to fulfil or has never met the requirements of the Class he or she is invested in; or (ii) to give effect to any conversion, transfer, restructuring, split, merger, termination or roll-up policy.

Conversion of Units. A Unitholder may convert some or all of its Units in one Class (the "Original Class") to Units in another Class (the "New Class"), provided such a Unitholder qualifies for investment in the New Class, by requesting a redemption of their Units in the Original Class and a simultaneous application the redemption proceeds in paying up for the subscription of the Units of the New Class. Units may be converted on a Conversion Day. Requests for conversion must be received by the Depositary before the Conversion Deadline. The Conversion Day and the Conversion Deadline are set out in Annex A for each Sub-Fund. Requests received after the Conversion Deadline will be recorded for conversion on the next following Valuation Day. The UCITS Management Company, acting in the best interest of the Unitholders, may at any time reject conversion applications or temporarily limit or suspend such conversion. The number of Units of the New Class to be issued is calculated in accordance with the following formula: NNS = (NOS * POS * EXR EXR) , PNS where is the number of Units of the New Class; is the number of Units of the Original Class; is the Redemption Price per Unit in the Original Class as of the relevant Valuation Day; is the exchange rate used for currency conversions (if any) as determined by the Administrator; and is the Subscription Price per Unit in the New Class as of that same Valuation Day. The Management Company may effect a compulsory conversion of Units (i) if a Unitholder ceases to fulfil or has never met the requirements of the Class he or she is invested in; or (ii) to give effect to any conversion, transfer, restructuring, split, merger, termination or roll-up policy.

Conversion of Units. A Unitholder may convert some or all of its Units in one Class (the "Original Class") to Units in another Class (the "New Class"), provided such a Unitholder qualifies for investment in the New Class, by requesting a redemption of their Units in the Original Class and a simultaneous application the redemption proceeds in paying up for the subscription of the Units of the New Class. Units may be converted on a Conversion Day. Requests for conversion must be received by the Depositary before the Conversion Deadline. The Conversion Day and the Conversion Deadline are set out in Annex A for each Sub-Fund. Requests received after the Conversion Deadline will be recorded for conversion on the next following Valuation Day. The UCITS Management Company, acting in the best interest of the Unitholders, may at any time reject conversion applications or temporarily limit or suspend such conversion. The number of Units of the New Class to be issued is calculated in accordance with the following formula: NNS = (NOS * POS * EXR EXR) , PNS where NNS is the number of Units of the New Class; NOS is the number of Units of the Original Class; POS is the Redemption Price per Unit in the Original Class as of the relevant Valuation Day; EXR is the exchange rate used for currency conversions (if any) as determined by the Administrator; and PNS is the Subscription Price per Unit in the New Class as of that same Valuation Day. The Management Company may effect a compulsory conversion of Units (i) if a Unitholder ceases to fulfil or has never met the requirements of the Class he or she is invested in; or (ii) to give effect to any conversion, transfer, restructuring, split, merger, termination or roll-up policy.

Conversion of Units. A Unitholder may convert some or all of its Units in one Class (the "Original Class") to Units in another Class (the "New Class"), provided such a Unitholder qualifies for investment in the New Class, by requesting a redemption of their Units in the Original Class and a simultaneous application the redemption proceeds in paying up for the subscription of the Units of the New Class. Units may be converted on a Conversion Day. Requests for conversion must be received by the Depositary before the Conversion Deadline. The Conversion Day and the Conversion Deadline are set out in Annex A for each Sub-Fund. Requests received after the Conversion Deadline will be recorded for conversion on the next following Valuation Day. The UCITS Management Company, acting in the best interest of the Unitholders, may at any time reject conversion applications or temporarily limit or suspend such conversion. The number of Units of the New Class to be issued is calculated in accordance with the following formula: NNS =  (NOS * POS * EXR ) , PNS where is the number of Units of the New Class; is the number of Units of the Original Class; is the Redemption Price per Unit in the Original Class as of the relevant Valuation Day; is the exchange rate used for currency conversions (if any) as determined by the Administrator; and is the Subscription Price per Unit in the New Class as of that same Valuation Day. The Management Company may effect a compulsory conversion of Units (i) if a Unitholder ceases to fulfil or has never met the requirements of the Class he or she is invested in; or (ii) to give effect to any conversion, transfer, restructuring, split, merger, termination or roll-up policy.