Imposition of Liquidity Fees and Redemption Gates. You agree to promptly take such actions reasonably requested by a money market Fund or by us to impose, lift, or modify a liquidity fee or redemption gate, or assist such Fund or us in imposing, lifting, or modifying a liquidity fee or redemption gate. If a money market Fund implements a liquidity fee, you authorize such Fund or us to calculate the liquidity fee owed to the Fund as a result of the redemption of shares of such Fund by your customers (the “Fee Amount”) following the imposition of the liquidity fee and to withhold an amount equal to the Fee Amount from any redemption proceeds or other payments to you by the Fund in its sole discretion.
Appears in 37 contracts
Samples: Bank Selling Agreement (BNY Mellon U.S. Mortgage Fund, Inc.), Bank Selling Agreement (BNY Mellon Worldwide Growth Fund, Inc.), Bank Selling Agreement (BNY Mellon Opportunistic Municipal Securities Fund)
