Examples of Monthly Redemption in a sentence
For such purpose, the Fund will utilize the Reference Exchange Rate current at, or as nearly as practicable to, the Monthly Redemption Date in respect of a monthly redemption of Class U Units.
Units must be surrendered for redemption prior to 5:00 p.m. on the last business day of the month preceding the Monthly Redemption Date.
Payment of the redemption price will be made on or before the 10th Business Day of the month immediately following a Monthly Redemption Date (each a “Redemption Payment Date”), subject to the Fund’s right to suspend redemptions in certain circumstances.
Unitholders submitting a Class U Unit for redemption will receive in US dollars an amount equal to the US dollar equivalent of the product of (i) the Monthly Redemption Amount and (ii) a fraction, the numerator of which is the most recently calculated Net Asset Value per Unit of a Class U Unit and the denominator of which is the most recently calculated Net Asset Value per Unit of a Class A Unit.
For such purpose, the Fund will utilize the exchange rate current at, or as nearly as practicable to, the Monthly Redemption Date in respect of a monthly redemption of Class U units.