Initial Auction Amount definition
Initial Auction Amount means the amount of cash made available by ReFlow for a particular Auction to purchase Shares from Participating Funds.
Examples of Initial Auction Amount in a sentence
The Initial Auction Amount, plus any cash received from Automatic Redemptions (as defined below in Section II.5) and Voluntary Redemptions equal the Final Auction Amount.
On each Business Day that ReFlow conducts an Auction, ReFlow shall establish an Initial Auction Amount, equal to the amount of cash it will make available that day to purchase Shares of Participating Funds.