Processing Redemptions Clause Samples
The "Processing Redemptions" clause outlines the procedures and requirements for investors or participants to redeem their interests or shares in a fund or investment vehicle. It typically specifies the notice period, documentation, and timing required for a redemption request to be processed, and may detail any applicable fees or restrictions, such as minimum redemption amounts or blackout periods. This clause ensures a clear and orderly process for withdrawing funds, protecting both the interests of the investor and the operational stability of the fund.
Processing Redemptions. Upon receipt of all necessary information and documentation relating to a redemption, the Transfer Agent will issue to the Custodian an advice setting forth the number of Shares of the Fund received by the Transfer Agent for redemption and that such shares are valid and in good standing for redemption. The Transfer Agent shall, upon receipt of the moneys paid to it by the Custodian for the redemption of such Shares, pay such moneys to the Shareholder, his authorized agent or legal representative.
Processing Redemptions. Upon receipt of Proper Instructions indicating that a proper withdrawal request had been received, verify that there are sufficient amounts in the account to cover the withdrawal and that payment for the Unit interest being redeemed has been collected, and process the withdrawal at the appropriate net asset value as instructed by the Manager, with payment to be made in accordance with the instructions of the Holder as provided to the Agent by an Authorized Person.
Processing Redemptions. In the event that an investor elects a complete withdrawal of its interest in the Trust (a "Redemption"), the Bank shall process such Redemption in accordance with Proper Instructions, which may include, if so determined by the Board and included in Proper Instructions, charging fees for effecting such Redemption, and shall reduce the Book Capital Account of such investor to zero.
Processing Redemptions. Upon receipt of Proper Instructions received within prescribed deadlines, indicating that a proper withdrawal request had been received, verify with the Custodian that there are sufficient amounts in the account to cover the withdrawal at the appropriate net asset value as instructed by the Manager, with payment to be made in accordance with the instructions of the Holder as provided to the Bank by an Authorized Person, upon instruction from Plan Sponsor representing the Share interest redeemed.