Common use of Distribution on Redemption of Units Clause in Contracts

Distribution on Redemption of Units. The Manager may determine that all or any portion of the proceeds that become payable in a year on the redemption of Units of a series of the Fund are a distribution of the Fund’s net income or net realized capital gains for the year allocable to that series of Units. If all the Unitholder’s Units in a Money Market Fund are redeemed, the proceeds payable on the redemption shall include the net income that has been allocated to the Unitholder pursuant to Section 16.8 but not distributed to the Unitholder.

Distribution on Redemption of Units. The Manager may determine that all or any portion of the proceeds that become payable in a year on the redemption of Units of a series of the Fund are a distribution of the Fund’s net income or net realized capital gains for the year allocable to that series of Units. If all the a Unitholder’s Units in a Money Market Fund are redeemed, the proceeds payable on the redemption shall include the net income that has been allocated to the Unitholder pursuant to Section 16.8 but not distributed to the Unitholder.