Common use of Determination of Redemption Price Clause in Contracts

Determination of Redemption Price. 7.4.1 During the Initial Period, the Units shall not be redeemed. 7.4.2 After the Initial Period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Day on which a correctly and properly filled redemption of units form is received within business hours as maybe announced by the Management Company from time to time, less: a) Any Back-end Load; b) Any taxes imposed by the Government; and c) Such amount as the Management Company may consider an appropriate provision for Duties, Charges, Levies etc; d) Such amount as the Management Company may consider an appropriate provision for Transaction Costs; such sum may be adjusted up to four paisa The Redemption (Repurchase) Price so determined shall apply to redemption requests, complete in all respects, received by the Distributor or the Management Company during the business hours (as announced by the Management Company from time to time) on the Business Day on which a correctly and properly filled redemption application is received. The Transaction Costs shall not normally be applied in determining Offer and Redemption Prices, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation and with the agreement of the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Property. 7.4.3 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive effect after the date of payment in which case such excess shall be recovered from the Trust Property). 7.4.4 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, shall form part of the Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Holders. 1 7.4.5 The Redemption Price determined by the Management Company shall be made available to the public at the office and branches of the Distribution Company and shall at the discretion of the Management Company may also be published in at least one daily newspaper widely circulated in Pakistan. 7.4.6 In the event the Units are redeemed by any major Unit Holder in such period of time that the Management Company believes, may adversely affect the interest of other Unit Holder(s), it may charge Contingent Load on such redemption.

Determination of Redemption Price. 7.4.1 12.4.1 During the Initial Period, the Units shall not be redeemed. 7.4.2 12.4.2 After the Initial Period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Day on which a correctly and properly filled Units redemption of units application form is received within business hours as maybe may be announced by the Management Company from time to time, less:; (a) Any any Back-end Loadload as per the Offering Document; but not exceeding five percent of the Net Assets Value and; (b) Any taxes imposed by the Government; and c) Such such amount as the Management Company may consider an appropriate provision for Dutiesgovernment taxes, Duties and Charges, Levies etc; d(c) Such such amount as to be rounded off to the nearest four decimal places. 12.4.3 The Management Company may consider an appropriate provision for Transaction Costs; such sum may be adjusted up to four paisa announce different classes of Units with differing levels of Front-end and/or Back-end Load through the Offering Document. 12.4.4 The Redemption (Repurchase) Price price so determined shall apply to redemption requestsrequest, complete in all respects, respects received by the Distributor or before the cut-off time of 4:00 pm for acceptance of application for redemption of units on that Business Day. Provided that if the Business Day is not a Subscription Day the Redemption Price calculated on the next Subscription Day will apply. The Management Company during the business hours (as announced by the Management Company will make arrangements, from time to time) on the Business Day on which a correctly , for receiving redemption request from outside Pakistan and properly filled redemption application is received. The Transaction Costs shall not normally be applied in determining Offer will disclose these arrangements through its website and Redemption Prices, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation its Distributors and with the agreement of the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Propertyagents outside Pakistan. 7.4.3 12.4.5 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c12.4.2(b) above is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive retrospective effect after the date of payment in which case such excess shall be recovered from the Trust Property). 7.4.4 12.4.6 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, shall form part of the Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c12.4.2(b) above exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Holders. 1holders. 7.4.5 12.4.7 The Redemption Price determined by the Management Company shall be made available to the public at the office and branches of the Distribution Company and shall at the discretion of the Management Company may also be published in at least two daily newspapers, one daily newspaper English and one Urdu, widely circulated in PakistanPakistan and make it available at its website. 7.4.6 In the event the Units are redeemed by any major Unit Holder in such period of time that the Management Company believes, may adversely affect the interest of other Unit Holder(s), it may charge Contingent Load on such redemption.

Determination of Redemption Price. 7.4.1 During the Initial Period, the Units shall not be redeemed. After the Initial Period, the Redemption Price shall be calculated and announced by the Management Company for every Dealing Day. 7.4.2 After the Initial Period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Dealing Day on which a correctly and properly filled redemption of units form is received within business hours as maybe announced by the Management Company from time to time, less: a) Any Back-end LoadLoad as per the Offering Document; b) Any taxes imposed by Such amount as the GovernmentManagement Company may consider an appropriate Provision for Duties and Charges in accordance with the Regulations; and c) Such amount as the Management Company may consider an appropriate provision for Duties, Charges, Levies etc; d) Such amount as the Management Company may consider an appropriate provision for Transaction Costs; such . Such sum may shall be adjusted up to four paisa The decimal places. Units will be redeemed to the investor(s) at the Redemption (Repurchase) Price so determined shall apply to for the Dealing Day on the basis of completely and correctly filled redemption requests, complete in all respects, form(s) submitted by the investor(s) is/are received by the Distributor Distributor(s) or the Management Company during the business hours (as announced by the hours. The Management Company will make arrangements, from time to time) on the Business Day on which a correctly , for receiving redemption requests from outside Pakistan and properly filled redemption application is receivedwill disclose these arrangements through its website and its Distributors and agents outside Pakistan. The Transaction Costs shall not normally be applied in determining Offer and Redemption Prices, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation and with the agreement of under intimation to the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Property. In any case the cumulative Front-end Load and Back-end Load on a particular Unit would not exceed 5% of the NAV. 7.4.3 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c7.4.2(b) above is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive effect after the date of payment in which case such excess shall be recovered from the Trust Property). 7.4.4 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c7.4.2(b) above exceeds the relevant amount of Duties and Charges, such amount shall form part of the be included in Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Holders. 1. 7.4.5 The Redemption Price determined by the Management Company shall be made available to the public at the office and branches of the Distribution Company and shall may, at the discretion of the Management Company may Company, also be published in at least one daily newspaper widely circulated in Pakistan. 7.4.6 In the event the Units are redeemed by any major Unit Holder in such period of time that the Management Company believes, may adversely affect the interest of other Unit Holder(s), it may charge Contingent Load on such redemption.

Determination of Redemption Price. 7.4.1 11.5.1 During the Initial Period, the Units shall not be redeemed. 7.4.2 11.5.2 After the Initial Period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Day on which a correctly and properly filled Units redemption of units application form is received within business hours as maybe may be announced by the Management Company from time to time, less:; (a) Any Back-end Load; b) Any taxes imposed by load if the GovernmentManagement Company wishes to include; and c(b) Such amount as the Management Company may consider an appropriate provision for Dutiesgovernment taxes, Duties and Charges, Levies etc; d(c) Such amount as amount, subject to the Management Company terms set forth below in this sub-clause, may consider an appropriate provision for Transaction Costs; such sum ; (d) Such amount to be rounded off to the nearest four decimal places. 11.5.3 The Management Company may be adjusted up announce different classes of Units with differing levels of Front-end and/or Back-end Load through the Offering Document, which may also vary according to four paisa The Redemption (Repurchase) Price so determined shall apply to redemption requests, complete other criteria in all respects, received by the Distributor or the Management Company during Company’s sole discretion. Consequently, the business hours (as announced by the Management Company from time to time) on the Business Day on which a correctly Offer Price and properly filled redemption application is received. Repurchase price may differ for Units issued for different investors. 11.5.4 The Transaction Costs shall not normally be applied in determining Offer and Redemption Prices. However, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation and with the agreement of the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five (5) percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Property. 7.4.3 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive effect after the date of payment in which case such excess shall be recovered from the Trust Property). 7.4.4 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, shall form part of the Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Holders. 1 7.4.5 The Redemption Price determined by the Management Company shall be made available to the public at the office and branches of the Distribution Company and shall at the discretion of the Management Company may also be published in at least one daily newspaper widely circulated in Pakistan. 7.4.6 In the event the Units are redeemed by any major Unit Holder in such period of time that the Management Company believes, may adversely affect the interest of other Unit Holder(s), it may charge Contingent Load on such redemption.

Determination of Redemption Price. 7.4.1 During the Initial Period, the Units shall not be redeemed. After the Initial Period, the Redemption Price shall be calculated and announced by the Management Company for every Dealing Day. 7.4.2 After the Initial Period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Dealing Day on which a correctly and properly filled redemption of units form is received within business hours as maybe announced by the Management Company from time to time, less: a) Any Back-end Load; b) Any taxes imposed by the Government; and c) Such amount as the Management Company may consider an appropriate provision Provision for Duties, Duties & Charges, Levies etc; d) Such amount as the Management Company may consider an appropriate provision for Transaction Costs; such sum may be adjusted up to four paisa The decimal places Units will be redeemed to the investor(s) at the Redemption (Repurchase) Price so determined shall apply to for the Dealing Day on which completely and correctly filled redemption requests, complete in all respects, form(s) submitted by the investor(s) is/are received by the Distributor Distributor(s) or the Management Company during the business hours (as announced by the hours. The Management Company will make arrangements, from time to time) on the Business Day on which a correctly , for receiving redemption requests from outside Pakistan and properly filled redemption application is receivedwill disclose these arrangements through its website and its Distributors and agents outside Pakistan. The Transaction Costs shall not normally be applied in determining Offer and Redemption Prices, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation and with the agreement of the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Property. 7.4.3 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive effect after the date of payment in which case such excess shall be recovered from the Trust Property). 7.4.4 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, such amount shall form part of the be included in Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Holders. 1. 7.4.5 The Redemption Price determined by the Management Company shall be made available to the public at the office and branches of the Distribution Company and shall may, at the discretion of the Management Company may Company, also be published in at least one daily newspaper widely circulated in Pakistan. 7.4.6 In the event the Units are redeemed by any major Unit Holder in such period of time that the Management Company believes, may adversely affect the interest of other Unit Holder(s), it may charge Contingent Load on such redemption.

Determination of Redemption Price. 7.4.1 During the Initial Period, the Units shall not be redeemed. 7.4.2 After the Initial Period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Day on which a correctly and properly filled redemption of units form is received within business hours as maybe announced by the Management Company from time to time, less: a) Any Back-end Load; b) Any taxes imposed by the Government; and c) Such amount as the Management Company may consider an appropriate provision for Duties, Charges, Levies etc; d) Such amount as the Management Company may consider an appropriate provision for Transaction Costs; such sum may be adjusted up to upto four paisa The Redemption (Repurchase) Price so determined shall apply to redemption requests, complete in all respects, received by the Distributor or the Management Company during the business hours (as announced by the Management Company from time to time) on the Business Day on which a correctly and properly filled redemption application is received. The Transaction Costs shall not normally be applied in determining Offer and Redemption Prices, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation and with the agreement of the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Property. 7.4.3 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive effect after the date of payment in which case such excess shall be recovered from the Trust Property). 7.4.4 In 1In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, shall form part of the Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Holders. 1 7.4.5 The Redemption Price determined by the Management Company shall be made available to the public at the office and branches of the Distribution Company and shall at the discretion of the Management Company may also be published in at least one daily newspaper widely circulated in Pakistan. 7.4.6 In the event the Units are redeemed by any major Unit Holder in such period of time that the Management Company believes, may adversely affect the interest of other Unit Holder(s), it may charge Contingent Load on such redemption.

Determination of Redemption Price. 7.4.1 11.5.1 During the Initial Period, Period the Units shall not be redeemed. 7.4.2 11.5.2 After the Initial Period period the Redemption (Repurchase) Price shall be equal to the Net Asset Value as of the close of the Business Day on which a correctly and properly filled redemption the day of units form is received within business hours as maybe announced by determination of the Management Company from time to time, Redemption Price less: (a) Any any Back-end Load; b) Any taxes imposed by the Government; and c(b) Such such amount as the Management Company may consider an appropriate provision for Duties, Duties and Charges, Levies etc; (c) any taxes imposed by the Government; (d) Such such amount as the Management Company may consider an appropriate provision for Transaction Costs; such sum may . Such amount will be adjusted up downwards to four paisa the nearest five paisa. The Redemption (Repurchase) Price so determined shall apply to redemption Redemption requests, complete in all respectsrespect, received by the Distributor or the Management Company Distribution Companies during the business hours (as announced by the Management Company from time to time) on the Business Day on which a correctly and properly filled redemption application is received. The Transaction Costs shall not normally be applied in determining Offer and Redemption Prices, however, if the Management Company is of the view that it is in the overall interest of the Holders, it may, in consultation and with the agreement of the Trustee, apply such charge either to the Offer or the Redemption Price. The Management Company may, however, apply Transaction Costs while determining Offer or Redemption prices, without consulting the Trustee provided the difference between the Offer Price and the Redemption Prices does not exceed five percent. The element of Transaction Costs taken into account in determining the prices and collected so, shall form a part of the Trust Propertyday. 7.4.3 11.5.3 In the event that the amount paid deducted as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above 11.5.2 is insufficient to pay in full such Duties and Charges, the Management Company shall be liable for the payment in full of the amount of such Duties and Charges in excess of such provisions (except where such excess arises from any Duties and Charges levied with retroactive effect after the date of payment in which case such excess shall be recovered from the Trust Property)provisions. 7.4.4 11.5.4 In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above exceeds the relevant amount of Duties and Charges, shall form part of the Trust Property. In the event that the amount paid as provision for payment of Duties and Charges pursuant to sub-clause 7.4.2(c) above 11.5.2 exceeds the relevant amount of Duties and Charges, the Trustee shall refund such excess amount to the relevant Unit Holders. 1. 7.4.5 11.5.5 The Redemption Price determined by the Management Company Committee shall be made available to the public at the office and branches of the Distribution Company Companies and shall at the discretion of the Management Company may also be published in at least one daily newspaper widely circulated circulating in PakistanKarachi, Lahore and Islamabad. 7.4.6 In 11.5.6 If the event variation of the Units are redeemed by Net Asset Value at any major Unit Holder in such period time exceeds two percent of time that the Net Asset Value calculated pursuant to sub-clause 11.5.2 above for the current Redemption Price, the Management Company believes, may adversely affect shall suspend any redemption of Units and shall calculate forthwith a new Redemption Price. The Management Company shall also inform the interest SECP of other Unit Holder(s), it may charge Contingent Load on such redemptionthe suspension of Redemption of Units along with the announcement of the new Redemption price in the newspaper in which the Scheme's prices are normally published.