Payment of Redemptions. The Sponsor shall cause this FuturesAccess Fund to distribute to redeeming Investors the estimated Net Asset Value of the Units redeemed by them, generally approximately 10 business days after the effective date of redemption, although there can be no assurance of the timing of such payment. Units which have been redeemed, but the proceeds of which have not yet been paid, shall nevertheless be deemed to have ceased to be outstanding from the effective date of redemption for all other purposes hereunder. No interest shall be paid to Investors on redemption proceeds held pending distribution. This FuturesAccess Fund shall retain any such interest.
Appears in 18 contracts
Samples: Limited Liability Company Operating Agreement (Aspect FuturesAccess LLC), Limited Liability Company Operating Agreement (ML Aspect FuturesAccess LLC), Limited Liability Company Operating Agreement (ML BlueTrend FuturesAccess LLC)
Payment of Redemptions. The Sponsor shall cause this Systematic Momentum FuturesAccess Fund to distribute to redeeming Investors the estimated Net Asset Value of the Units redeemed by them, generally approximately 10 business days after the effective date of redemption, although there can be no assurance of the timing of such payment. Units which have been redeemed, but the proceeds of which have not yet been paid, shall nevertheless be deemed to have ceased to be outstanding from the effective date of redemption for all other purposes hereunder. No interest shall be paid to Investors on redemption proceeds held pending distribution. This Systematic Momentum FuturesAccess Fund shall retain any such interest.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (ML Systematic Momentum FuturesAccess LLC), Limited Liability Company Operating Agreement (Systematic Momentum FuturesAccess LLC), Limited Liability Company Operating Agreement (Systematic Momentum FuturesAccess LLC)
Payment of Redemptions. The Sponsor shall cause this FuturesAccess Fund to distribute to redeeming Investors the estimated Net Asset Value of the Units redeemed by them, generally approximately 10 business days after the effective date of redemption, although there can be no assurance of the timing of such payment. Units which have been redeemed, but the proceeds of which have not yet been paid, shall nevertheless be deemed to have ceased to be outstanding from the effective date of redemption for all other purposes hereunder. No interest shall be paid to Investors on redemption proceeds held pending distribution. This FuturesAccess Fund shall retain any such interest.. The Mxxxxxx Lxxxx FuturesAccessSM Funds General Form of Operating Agreement Dated as of April 1, 2007
Appears in 2 contracts
Samples: Operating Agreement (ML Chesapeake FuturesAccess LLC), Operating Agreement (ML Transtrend DTP Enhanced FuturesAccess LLC)
Payment of Redemptions. The Sponsor shall cause this FuturesAccess Fund to distribute to redeeming Investors the estimated Net Asset Value of the Units redeemed by them, generally approximately 10 business days after the effective date of redemption, although there can be no assurance of the timing of such payment. Units which have been redeemed, but the proceeds of which have not yet been paid, shall nevertheless be deemed to have ceased to be outstanding from the effective date of redemption for all other purposes hereunder. No interest shall be paid to Investors on redemption proceeds held pending distribution. This FuturesAccess Fund shall retain any such interest.. The Xxxxxxx Xxxxx FuturesAccessSM Funds General Form of Operating Agreement Dated as of Xxxxx 0, 0000
Appears in 1 contract
Samples: Operating Agreement (ML Man Bayswater FuturesAccess LLC)
