Payment for Net Redemptions Sample Clauses
The "Payment for Net Redemptions" clause defines the process and obligations for settling payments when securities or shares are redeemed, accounting for the net amount after any applicable deductions. Typically, this clause outlines how and when the payment to investors will be made following a redemption request, specifying that only the net proceeds—after fees, taxes, or other charges—will be paid out. Its core function is to ensure clarity and fairness in the redemption process by detailing how net amounts are calculated and distributed, thereby preventing disputes over payment amounts and timing.
Payment for Net Redemptions. Payment for net redemptions of shares in the Fund will be wired from the Fund's custodial account to the custodian or trustee for the Plan, in accordance with the Procedures described in Exhibit B.
Payment for Net Redemptions. Payment for net redemptions of shares in the Funds will be wired by the Transfer Agent to an account designated by the Trust Entity, in accordance with the Procedures described in Exhibit B.
Payment for Net Redemptions. Payment for net redemptions of shares in the Funds will be wired by the Fund Company to an account designated by the Recordkeeper, in accordance with the Procedures described in Exhibit B.