Fractions / Redemptions by Lot. Bank may sell fractional interests in Financial Assets and credit the Cash Account with the proceeds of the sale. If some, but not all, of an outstanding class of Financial Asset is called for redemption, Bank may allot the amount redeemed among the respective beneficial holders of such class of Financial Asset in any manner Bank deems to be fair and equitable.
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Samples: Global Custody Agreement, Global Custody Agreement (Vanguard Wellington Fund), Global Custody Agreement (Vanguard Wellesley Income Fund)
Fractions / Redemptions by Lot. Bank may sell fractional interests in Financial Assets and credit the appropriate Cash Account with the proceeds of the sale. If some, but not all, of an outstanding class of Financial Asset is called for redemption, Bank may allot the amount redeemed among the respective beneficial holders of such class of Financial Asset in any manner Bank deems to be fair and equitable.
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