Auction Bid definition
Examples of Auction Bid in a sentence
Notwithstanding any other provision of this Agreement, ReFlow shall not be required to accept any Auction Bid (and may rescind any such Auction Bid after acceptance) that is made by the Fund in violation of any provision of this Agreement, provided that ReFlow has given the Fund notice of such violation.
If the Fund does not submit its Order Flow Report by such time, the Auction shall commence and the Fund’s Auction Bid shall not be included in calculating the Auction results.
If a Winning Fund places a Cash Bid but thereafter reports net redemptions equal to or greater than that amount, the Auction Bid Dollar Amount shall be the amount of the Cash Bid.
If the Fund was a Winning Fund in the Auction, and experienced less net redemptions than previously reported, ReFlow shall issue a redemption order to the Fund for the amount of the decrease in the Auction Bid Dollar Amount.
If a Winning Fund places a Cash Bid but thereafter reports net redemptions of less than that amount, the Auction Bid Dollar Amount shall be the amount of its net redemptions.
If a Winning Fund places a Standing Bid, the Auction Program shall calculate the Auction Bid Dollar Amount based on its net redemptions and its Standing Bid.
If the Fund was a Winning Fund in the Auction, and experienced more net redemptions than previously reported, ReFlow shall issue another purchase order to the Fund for Shares in the amount of the increase in the Auction Bid Dollar Amount, which the Fund agrees to accept, at the Winning Fee Rate determined in the Auction, up to the amount of the cash available as determined by ReFlow, subject to an overall limit of share purchases by ReFlow that do not exceed the Final Auction Amount.
If the Fund is a Winning Fund, ReFlow shall purchase an amount of Shares equal to the Auction Bid Dollar Amount if there is sufficient cash available from the Final Auction Amount after purchasing Shares of other Winning Funds who submitted higher Fee Bids than the Fund.
If the Fund reports net redemptions, and the Fund’s Fee Bid was equal to or greater than the Winning Fee Bid, ReFlow shall issue a purchase order to the Fund for Shares in the amount of the Auction Bid Dollar Amount, which the Fund agrees to accept, at the Winning Fee Rate determined in the Auction, up to the amount of the cash available as determined by ReFlow, subject to an overall limit of share purchases by ReFlow that do not exceed the Final Auction Amount.
All bids must be in writing using the official Auction Bid Form, by email or submitted online via the Online Bid Form.