Common use of Redemption Procedure Clause in Contracts

Redemption Procedure. Units may be redeemed on a Redemption Day. Requests for redemption must be received by the Depositary on or before the Redemption Deadline. Redemption requests received after the Redemption Deadline will be processed on the next following Redemption Day. Under normal circumstances, payment for redeemed Units will be made within the Redemption Payment Day as set out in Annex A for each Sub-Fund. The Management Company may under particular circumstances, e.g. in connection with a restructuring involving another Sub-Fund of the UCITS or other funds or sub-funds managed by the Management Company or a company part of the same group as the Management Company, shorten Redemption Deadlines in relation to a specific Redemption Day and Sub-Fund, provided always that the interest of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received by the Depositary, unless the Management Company, acting in the best interests of the Unitholders, determines to permit the withdrawal of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorily) on and from the relevant Redemption Day, except the right to receive the redemption proceeds with respect to such Units and any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf of the Sub-Fund. The Management Company shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdiction.

Redemption Procedure. Units may If any Optional Redemption Notice has been given in respect of the Notes in accordance with Section 10.01, the Notes shall become due and payable on the Optional Redemption Date at the place or places stated in the Optional Redemption Notice at the Optional Redemption Amount. On presentation and surrender of the Notes at the place or places stated in the Optional Redemption Notice, the Notes shall be paid and redeemed by the Company at the Optional Redemption Amount. Prior to the open of business on the Optional Redemption Date, the Company shall deposit with the Trustee (or other Paying Agent appointed by the Company) or, if the Company or a subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 5.03(b), an amount of cash (in immediately available funds if deposited on the Optional Redemption Date) sufficient to pay the Optional Redemption Amount of all the Notes to be redeemed on a such Redemption DayDate. Requests for redemption must be received Subject to receipt of funds by the Depositary on or before the Redemption Deadline. Redemption requests received after the Redemption Deadline will be processed on the next following Redemption Day. Under normal circumstancesPaying Agent, payment for the Notes to be redeemed Units will shall be made within on the Optional Redemption Date for such Notes. The Trustee (or other Paying Agent appointed by the Company) shall, promptly after such payment and upon written demand of the Company, return to the Company any funds in excess of the Redemption Payment Day as set out in Annex A for each Sub-FundPrice. The Management Company may under particular circumstances, e.g. in connection with a restructuring involving another Sub-Fund If any portion of the UCITS or other funds or sub-funds managed by the Management Company or a company part of the same group as the Management Company, shorten payment pursuant to an Optional Redemption Deadlines in relation to a specific Redemption Day and Sub-Fund, provided always that the interest of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received paid by the DepositaryCompany in cash by the applicable due date, unless interest shall accrue thereon at an interest rate equal to the Management lesser of 18% per annum or the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything to the contrary in this Section 10, the Company, acting ’s determination to make an Optional Redemption under Section 10.01 shall be applied by lot among the Holders (and in the best interests case of any Global Notes, redeemed in accordance with the Depositary’s applicable procedures). The Holders may elect to convert the outstanding principal amount of the UnitholdersNotes pursuant to Section 4 prior to, determines to permit in case of Global Notes, the withdrawal Close of such request in whole or in part. A Unitholder will have no rights Business on the Trading Day immediately preceding the Optional Redemption Date , and, with respect to Units redeemed (whether voluntarily or compulsorily) on and from the relevant Redemption DayPhysical Notes, except the right to receive the redemption proceeds with respect to such Units and that Holders may surrender their Notes for conversion at any dividend or distribution that has been declared time prior to such the Close of Business on the third Trading Date immediately preceding the Optional Redemption Day but has not yet been paid. In particular, Date for any redemption under this Section 10 by the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution delivery of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject Conversion Notice to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf of the Sub-Fund. The Management Company shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdictionConversion Agent.

Redemption Procedure. Units may be redeemed on Any redemption of Shares provided for in this Section shall take place-- (i) within thirty (30) days following termination for Cause or a Redemption Day. Requests for redemption must be received termination as a result of the failure of the Nevada Gaming Authorities to grant the Participant a casino key employee and equity holder license; (ii) in the case of a termination by reason of the Participant's death or Disability, upon such date set out by the Depositary on Participant, or before his estate, as the Redemption Deadline. Redemption requests received after case may be, in a written notice to the Redemption Deadline will Company specifying all or any portion of the Shares to be processed on redeemed, given at least thirty (30) days in advance of the next applicable redemption date; or (iii) within thirty (30) days following Redemption Day. Under normal circumstances, payment for redeemed Units will be made within written notice to the Redemption Payment Day as set out Company of the intent to redeem all or any portion of the Shares in Annex A for each Sub-Fundthe case of any other termination of the Participant's employment with the Company or if Participant is currently employed with the Company. The Management Participant (or his personal representative), upon redemption of all or any portion of his Shares shall surrender to the Company may under particular circumstancesthe certificates for his Shares and only such portion as has been surrendered shall thereupon be canceled; provided, e.g. however, that if the Participant is redeeming Shares in connection accordance with a restructuring involving another Sub-Fund clause (i) above, then upon such redemption the Participant shall surrender to the Company all certificates for Shares and whether so surrendered or not, such Shares shall thereupon be canceled. The Company shall then, upon receipt of the UCITS or other funds or sub-funds managed by the Management Company or a company part Shares and determination of the same group as Fair Market Value, deliver to the Management CompanyParticipant (or his personal representative) a promissory note for the sum payable in accordance with the terms of Section 5(a)(ii) above. Such note shall be, shorten Redemption Deadlines in relation to a specific Redemption Day and Sub-Fundall respects, provided always that the interest of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received by the Depositary, unless the Management Company, acting in the best interests of the Unitholders, determines to permit the withdrawal of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorily) on and from the relevant Redemption Day, except the right to receive the redemption proceeds with respect to such Units and any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject to the limitations on payments and/or distributions and restrictions, if any, imposed by any note, credit facility, indenture, mortgage, line of credit or similar contractual arrangement with an institutional or similar lender by which the Company may become bound (a) laws"Lender Restrictions"), regulations whether in the form of financial covenants or other restrictions established by applicable regulatory agencies otherwise and whether arising prior to or self- regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf after execution and delivery of the Sub-Fundnote. The Management No failure of the Company to pay sums due on the note on account of the Lender Restrictions shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if default and all such refusal is necessary payments to ensure the compliance extent (and only to the extent) prohibited by the DepositaryLender Restrictions, shall be deferred and accrue until such time as they may be paid without violating the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdictionLender Restrictions.

Redemption Procedure. Units may i. The payment of cash or issuance of Common Stock, as applicable, pursuant to an Optional Redemption or a Monthly Redemption shall be redeemed payable on a the Optional Redemption DayDate or Monthly Redemption Date, as applicable. Requests for redemption must If any portion of the payment pursuant to an Optional Redemption or Monthly Redemption shall not be received paid by the Depositary on Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 15 % per annum or before the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of the Optional Redemption DeadlineAmount or Monthly Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Monthly Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption. Notwithstanding anything to the contrary in this Section 6, the Company’s determination to redeem in cash or its elections under Section 6(b) shall be applied ratably among the Holders of Notes. The Holder may elect to convert the outstanding principal amount of the Note pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company. ii. Notwithstanding anything herein contained to the contrary, the Holder, at its option, may defer any Monthly Redemption requests received after (each a “Deferred Redemption”). In such event, the Holder may elect to receive a Deferred Redemption Deadline will at any time in shares of Common Stock at the lesser of (i) the Conversion Price, (ii) 90% of the lowest VWAP in the five (5) Trading Days prior to the Holder’s notice to the Company of its election to receive payment for the Deferred Redemption. Any payment of a Deferred Redemption that is not converted into shares of Common Stock, shall be processed paid in cash to the Holder on the next following applicable Monthly Redemption DayDate. iii. Under normal circumstancesNotwithstanding anything herein contained to the contrary, the Holder, at its option, may accelerate up to two (2) Monthly Redemptions during any calendar month (an “Accelerated Redemption”), by indicating such acceleration on a Monthly Redemption Notice (or an additional Monthly Redemption Notice). In such event, the Holder may elect to receive an Accelerated Redemption (on a LIFO basis) at any time in shares of Common Stock at the Monthly Conversion Price. Any payment for redeemed Units will of an Accelerated Redemption shall be made within paid in Shares of Common Stock on the Monthly Redemption Payment Day as set out in Annex A for each Sub-Fund. The Management Company may under particular circumstancesDate or Accelerated Redemption Date that relates to the Monthly Redemption Notice (or an additional Monthly Redemption Notice, e.g. in connection with a restructuring involving another Sub-Fund of the UCITS or other funds or sub-funds managed by the Management Company or a company part of the same group as the Management Companycase may be) indicating an Accelerated Redemption. For the avoidance of doubt, shorten Redemption Deadlines in relation the Holder is entitled to a specific Redemption Day and Sub-Fundan Accelerated Redemption, provided always that the interest of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received by the Depositaryat its option, unless the Management Company, acting in the best interests of the Unitholders, determines to permit the withdrawal of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorily) on and from each Monthly Redemption. For the relevant Redemption Dayavoidance of doubt, except the Holder shall have the right to receive provide the redemption proceeds with respect to such Units and Company an aggregate of two (2) Monthly Redemption Notices during any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf of the Sub-Fundcalendar month. The Management Company shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount Holder may mutually agree to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdictionadditional accelerated Monthly Redemptions.

Redemption Procedure. Units may i. The payment of cash or issuance of Common Stock, as applicable, pursuant to an Optional Redemption or a Monthly Redemption shall be redeemed payable on a the Optional Redemption DayDate or Monthly Redemption Date, as applicable. Requests for redemption must If any portion of the payment pursuant to an Optional Redemption or Monthly Redemption shall not be received paid by the Depositary on Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 15 % per annum or before the maximum rate permitted by applicable law until such amount is paid in full. Notwithstanding anything herein contained to the contrary, if any portion of the Optional Redemption DeadlineAmount or Monthly Redemption Amount remains unpaid after such date, the Holder may elect, by written notice to the Company given at any time thereafter, to invalidate such Optional Redemption or Monthly Redemption, ab initio, and, with respect to the Company’s failure to honor the Optional Redemption, the Company shall have no further right to exercise such Optional Redemption. Notwithstanding anything to the contrary in this Section 6, the Company’s determination to redeem in cash or its elections under Section 6(b) shall be applied ratably among the Holders of Notes. The Holder may elect to convert the outstanding principal amount of the Note pursuant to Section 4 prior to actual payment in cash for any redemption under this Section 6 by the delivery of a Notice of Conversion to the Company. ii. Notwithstanding anything herein contained to the contrary, the Holder, at its option, may defer any Monthly Redemption requests received after (each a “Deferred Redemption”). In such event, the Holder may elect to receive a Deferred Redemption Deadline will at any time in shares of Common Stock at the lesser of (i) the Conversion Price, (ii) 87% of the lowest VWAP in the ten (10) days prior to the Holder’s notice to the Company of its election to receive payment for the Deferred Redemption. Any payment of a Deferred Redemption that is not converted into shares of Common Stock, shall be processed paid in cash to the Holder on the next following applicable Monthly Redemption DayDate. iii. Under normal circumstancesNotwithstanding anything herein contained to the contrary, the Holder, at its option, may accelerate up to four (4) Monthly Redemptions (an “Accelerated Redemption”) at once by indicating such acceleration on a Monthly Redemption Notice. In such event, the Holder may elect to receive an Accelerated Redemption at any time in shares of Common Stock at the Monthly Conversion Price. Any payment for redeemed Units will of an Accelerated Redemption shall be made within paid in Shares of Common Stock on Monthly Redemption Date that relates to the Monthly Redemption Payment Day as set out in Annex A for each Sub-FundNotice indicating an Accelerated Redemption. The Management Company may under particular circumstancesFor the avoidance of doubt, e.g. in connection with a restructuring involving another Sub-Fund of the UCITS or other funds or sub-funds managed by the Management Company or a company part of the same group as the Management CompanyHolder is entitled to an Accelerated Redemption, shorten Redemption Deadlines in relation to a specific Redemption Day and Sub-Fundat its option, provided always that the interest of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received by the Depositary, unless the Management Company, acting in the best interests of the Unitholders, determines to permit the withdrawal of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorily) on and from the relevant Redemption Day, except the right to receive the redemption proceeds with respect to such Units and any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf of the Sub-Fund. The Management Company shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdictioneach Monthly Redemption.

Redemption Procedure. Units may be redeemed on a Redemption Day. Requests for redemption must be received by the Depositary on or before the Redemption Deadline. Redemption requests received after the Redemption Deadline will be processed on the next following Redemption Day. Under normal circumstances, payment for redeemed Units will be made within the Redemption Payment Day as set out in Annex A for each Sub-Sub- Fund. The Management Company may under particular circumstances, e.g. in connection with a restructuring involving another Sub-Fund of the UCITS or other funds or sub-funds managed by the Management Company or a company part of the same group as the Management Company, shorten Redemption Deadlines in relation to a specific Redemption Day and Sub-Fund, provided always that the interest of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received by the Depositary, unless the Management Company, acting in the best interests of the Unitholders, determines to permit the withdrawal of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorily) on and from the relevant Redemption Day, except the right to receive the redemption proceeds with respect to such Units and any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- self-regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf of the Sub-Fund. The Management Company shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdiction.

Redemption Procedure. Units Notes presented for redemption pursuant to Section 7.1(a) or (b) will be redeemed in order of their receipt by the Trustee, except that Notes presented for payment in the event of death of a holder pursuant to Section 7.1(b), will be given priority in order of their receipt, over other Notes. Notes not redeemed in any such period because they have not been presented prior to November 1 of that period or because of the Annual Amount Limitations will be held in order of their receipt for redemption during the following twelve (12) month period(s) until redeemed, unless sooner withdrawn by the holder. Holders of Notes presented for redemption shall be entitled to and shall receive scheduled monthly payments of interest thereon on scheduled Interest Payment Dates until their Notes are redeemed. In the event that a holder or his or her duly authorized representative notifies the Trustee of such person's desire to redeem all or any portion of the Notes pursuant to Section 7.1 of the Indenture, the Trustee shall furnish such person with the form set forth in Exhibit A hereto (for redemptions pursuant to Section 7.1(a) of the Indenture) or Exhibit B hereto (for redemptions pursuant to Section 7.1(b) of the Indenture). Notes may be redeemed on a Redemption Day. Requests presented for redemption must be received by delivering to the Trustee by hand delivery or registered mail at its main office: (A) a written request for redemption, in the form provided by the Depositary on Trustee upon written request, signed by the registered holder(s) or before his or her duly authorized representative, (B) the Redemption Deadline. Redemption requests received after Note to be redeemed, free and clear of any liens or encumbrances of any kind, and (C) in the Redemption Deadline will be processed on the next following Redemption Day. Under normal circumstancescase of a request made pursuant to Section 7.1(b), payment for redeemed Units will be appropriate evidence of such death and, if made within the Redemption Payment Day as set out in Annex A for each Sub-Fundby a representative of a deceased holder, appropriate evidence of authority to make such request. The Management price to be paid by the Company may under particular circumstances, e.g. for all Notes or portions thereof presented to it pursuant to the provisions described in connection with a restructuring involving another Sub-Fund this Section 7.1 is 100% of the UCITS or other funds or sub-funds managed principal amount thereof to be redeemed, plus accrued but unpaid interest on such principal amount to the date of payment. Any acquisition of Notes by the Management Company or a company part other than by redemption at the option of the same group as the Management Company, shorten Redemption Deadlines in relation any holder pursuant to a specific Redemption Day and Sub-Fund, provided always that the interest of the non-redeeming Unitholders Section 7.1 shall not be adversely affected thereby. A Unitholder may not withdraw a redemption request once it has been submitted and received by the Depositary, unless the Management Company, acting included in the best interests computation of the Unitholders, determines to permit the withdrawal Annual Amount Limitations for any period. For purposes of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorilySection 7.1(a) on and from the relevant Redemption Day, except the right to receive the redemption proceeds with respect to such Units and any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) shall be subject to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- regulatory association, (b) any investment vehicle from which and this Section 7.2, (i) a Sub-Fund might directly seek Note held in tenancy by the entirety, joint tenancy or tenancy in common will be deemed to withdraw fundsbe held by a single holder, (ii) the death of a tenant by the entirety, joint tenant or tenant in common will be deemed the death of a holder, (ciii) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf a person who is entitled to substantially all of the Sub-Fund. The Management Company shall determine the applicability beneficial interests of any such limitations on payments and/or distributions and the applicable amount ownership of a Note will be deemed to be withheld from any payment and/or distributionthe holder and (iv) the death of such person will be deemed to be the death of the holder, regardless of the registered holder. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdiction.For

Redemption Procedure. Units may (a) Notice of redemption (the "Redemption Notice") of the Preferred Stock, Series 1 shall be given by the Corporation not less than 30 days prior to the date fixed for redemption to each holder of any Preferred Stock, Series 1 to be redeemed. Accidental failure or omission to give the Redemption Notice to one or more of such holders shall not affect the validity of such redemption. The Redemption Notice shall set out the Redemption Price, the date fixed for redemption, the place of redemption and, in the case of partial redemption, the number of the holder's shares to be redeemed. (b) On and after the date fixed for redemption, the Corporation shall pay or cause to be paid the Redemption Price to or to the order of the holders of the Preferred Stock, Series 1 redeemed on presentation and surrender, at the place of redemption, of the respective certificates representing such shares, and the holders of the Preferred Stock, Series 1 called for redemption shall cease to be entitled to dividends or to exercise any of the rights of holders in respect thereof, unless payment of the Redemption Price shall not be made in accordance with the foregoing provisions, in which case the rights and privileges of the holders shall remain unimpaired. (c) The Corporation shall have the right at any time after mailing the Redemption Notice to deposit the Redemption Price of the shares thereby called for redemption, or such part thereof as at the time of deposit has not been claimed by the shareholders entitled thereto, in a special account with a chartered bank or trust company for the holders of such shares, and upon the deposit being made or upon the date fixed for redemption, whichever is the earlier, the Preferred Stock, Series 1 in respect of which the deposit shall have been made shall be deemed to be redeemed on a Redemption Day. Requests for redemption must and the rights of each holder thereof shall be received by the Depositary on or before the Redemption Deadline. Redemption requests received after the Redemption Deadline will be processed on the next following Redemption Day. Under normal circumstanceslimited to receiving, payment for redeemed Units will be made within the Redemption Payment Day as set out in Annex A for each Sub-Fund. The Management Company may under particular circumstanceswithout interest, e.g. in connection with a restructuring involving another Sub-Fund of the UCITS or other funds or sub-funds managed by the Management Company or a company his proportionate part of the same group as the Management Company, shorten Redemption Deadlines in relation to a specific Redemption Day Price so deposited upon presentation and Sub-Fund, provided always that the interest surrender of the non-redeeming Unitholders shall not be adversely affected thereby. A Unitholder may not withdraw certificates representing his shares so redeemed. (d) If less than all the Preferred Stock, Series 1 represented by any certificate are redeemed, a redemption request once it has been submitted and received by new certificate for the Depositary, unless the Management Company, acting in the best interests of the Unitholders, determines to permit the withdrawal of such request in whole or in part. A Unitholder will have no rights with respect to Units redeemed (whether voluntarily or compulsorily) on and from the relevant Redemption Day, except the right to receive the redemption proceeds with respect to such Units and any dividend or distribution that has been declared prior to such Redemption Day but has not yet been paid. In particular, the Unitholder ceases his or her participation in the Units performance on and from the relevant Redemption Day. Each payment and/or distribution of redemption proceeds (whether made in connection with a redemption request or a distribution to a Unitholder) balance shall be subject issued without cost to the limitations on payments and/or distributions imposed by (a) laws, regulations or other restrictions established by applicable regulatory agencies or self- regulatory association, (b) any investment vehicle from which a Sub-Fund might directly seek to withdraw funds, or (c) any agreements entered into by, or binding upon, the Management Company or its delegates acting on behalf of the Sub-Fund. The Management Company shall determine the applicability of any such limitations on payments and/or distributions and the applicable amount to be withheld from any payment and/or distribution. In particular, the Management Company or the Depositary may refuse to make a redemption payment to a Unitholder if the Management Company or the Depositary suspects or is advised that the payment of any redemption proceeds to such Unitholder may result in a breach or violation of any anti-money laundering law by any person in any relevant jurisdiction, or if such refusal is necessary to ensure the compliance by the Depositary, the Management Company, the Management Company delegates or service providers with any anti-money laundering law in any relevant jurisdictionholder.