Common use of Encashment Clause in Contracts

Encashment. You may terminate and encash the Plan and obtain the Encashment Value at any time subject to the following provisions: (a) Any Exit Charge due and any outstanding Plan charges (as imposed by Clause 6), will be deducted from the Plan Value, if Plan is encashed before the Plan Maturity Date. (b) If the Plan is encashed within 60 months from the commencement date of such Regular Contribution and Additional Regular Contributions (as the case may be), Metis reserves the right to cancel or deduct any Extra Allocation paid previously in respect such Regular Contribution and Additional Regular Contributions (as the case may be) from the relevant Initial Account for nil consideration. (c) All Account Units will be encashed using the Bid Price for the corresponding Underlying Assets, after receipt by us of the proper written instructions and proof that you are the person legally entitled to the amounts payable under the Plan. (d) Once the Encashment Value has been paid, we will not accept any further Contributions nor will we pay any further benefits and the Plan will terminate automatically. You will have no further rights to benefits or options under the Plan. (e) We will pay out the Encashment Value or Withdrawal sum in USD or upon requested Currency (subject to our absolute discretion) by electronic transfer, within 60 calendar days after the Valuation Day provided we have received the settlement proceeds from the Manager, Issuer or Dealer of the relevant Underlying Asset. (f) In exceptional circumstances, such as extreme stock market closure or to protect the interests of other Plan Owners, payments from a Plan may be delayed by Metis. In the event that this happens, we will do our best to minimize the delay and keep you informed of the likely length of delay. (g) As the Plan Owner, you must meet the cost of payment. No interest is payable in respect of Encashment Value whatsoever.

Encashment. You may terminate and encash the Plan and obtain the Encashment Value at any time subject to the following provisions: (a) Any If Option A of asset selection has been selected, any Exit Charge due and any outstanding Plan charges (as imposed by Clause 65), will be deducted from the Plan Value, if Plan is encashed before the within 120 months of Plan Maturity DateCommencement Date or Subsequent Commencement Date for Additional Contributions. (b) If the Plan is encashed within 60 months from the commencement date of such Regular Contribution and Additional Regular Contributions (as the case may be), Metis reserves the right to cancel or deduct any Extra Allocation paid previously in respect such Regular Contribution and Additional Regular Contributions (as the case may be) from the relevant Initial Account for nil consideration. (c) All Account Units will be encashed using the Bid Price for the corresponding Underlying Assets, after receipt by us of the proper written instructions and proof that you are the person legally entitled to the amounts payable under the Plan. (dc) Once the Encashment Value has been paid, we will not accept any further Contributions nor will we pay any further benefits and the Plan will terminate automatically. You will have no further rights to benefits or options under the Plan. (ed) We will pay out the Encashment Value or Withdrawal sum in USD or upon requested Currency (subject to our absolute discretion) by electronic transfer, within 60 calendar days after the Valuation Day provided provided, we have received the settlement proceeds from the Manager, Issuer or Dealer of the relevant Underlying AssetAssets. (fe) In exceptional circumstances, such as extreme stock market closure or to protect the interests of other Plan Owners, payments from a Plan may be delayed by Metis. In the event that this happens, we will do our best to minimize the delay and keep you informed of the likely length of delay. (gf) As the Plan Owner, you must meet the cost of payment. No interest is payable in respect of Encashment Value whatsoever.

Encashment. You may terminate and encash the Plan and obtain the Encashment Value at any time subject to the following provisions: (a) Any Exit Charge due and any outstanding Plan charges (as imposed by Clause 6), will be deducted from the Plan Value, if Plan is encashed before the within 60 months of Plan Maturity DateCommencement Date or Subsequent Commencement Date for Additional Contributions. (b) If the Plan is encashed within 60 months from the commencement date of such Regular Contribution and Additional Regular Contributions (as the case may be), Metis reserves the right to cancel or deduct any Extra Allocation paid previously in respect such Regular Contribution and Additional Regular Contributions (as the case may be) from the relevant Initial Account for nil consideration. (c) All Account Units will be encashed using the Bid Price for the corresponding Underlying Assets, after receipt by us of the proper written instructions and proof that you are the person legally entitled to the amounts payable under the Plan. (dc) Once the Encashment Value has been paid, we will not accept any further Contributions nor will we pay any further benefits and the Plan will terminate automatically. You will have no further rights to benefits or options under the Plan. (ed) We will pay out the Encashment Value or Withdrawal sum in USD or upon requested Currency (subject to our absolute discretion) by electronic transfer, within 60 calendar days after the Valuation Day provided we have received the settlement proceeds from the Manager, Issuer or Dealer of the relevant Underlying AssetAssets. (fe) In exceptional circumstances, such as extreme stock market closure or to protect the interests of other Plan Owners, payments from a Plan may be delayed by Metis. In the event that this happens, we will do our best to minimize the delay and keep you informed of the likely length of delay. (gf) As the Plan Owner, you must meet the cost of payment. No interest is payable in respect of Encashment Value whatsoever.