Common use of Acceptance and Rejection of Subscription by the Fund Clause in Contracts

Acceptance and Rejection of Subscription by the Fund. The Subscriber acknowledges and agrees that the Manager reserves the right, in its absolute discretion, to accept or reject this Subscription Agreement, in whole or in part, for any reason and at any time prior to the Closing Time. If this Subscription Agreement is rejected in whole, any cheques or other forms of payment delivered to the Manager representing the Subscription Amount will be promptly returned to the Subscriber without interest or deduction.