Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company’s assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company's assets held in the Separate Accounts) except (i) as necessary to implement Contractholder-initiated transactions (including any transaction executed pursuant to the terms of the Contract, such as payment of a death benefit or deduction of charges or fees), or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a "Legally Required Redemption"). Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company’s assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, including systematic transactions, (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”), (iii) as allowed under the Contracts, e.g., for fees, payment of claims or annuitization, or (iv) as permitted by the SEC pursuant to an Order under Section 26(c) of the 1940 Act. Upon request, the Insurance Company will promptly furnish to the Series and AFD an opinion of counsel for the Insurance Company (which counsel shall be a licensed attorney in good standing with his or her state bar) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. MassMutual shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to MassMutual’s assets held in the Account) except (i) as necessary to implement Contract owner-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon request, MassMutual will promptly furnish to the Series and AFD an opinion of counsel for MassMutual (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. 11.15.1. The Partnerships shall not be required to make any redemptions pursuant to clause this clause 11:
11.11.1.1 if the amount to be distributed in redemptions is less than R10 in aggregate; or
11.11.1.2 if there is insufficient cash available therefor; or
11.11.1.3 if such redemption would or is reasonably likely to render the Partnerships insolvent; or
11.11.1.4 if such distribution, in the reasonable opinion of the General Partner, would or might leave the Partnerships with insufficient funds to meet any future Fees.
Limitations on Redemptions. The Insurance Company shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to the Insurance Company’s assets held in the Account) except (i) as necessary to implement Contractholder-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”).
Limitations on Redemptions. The Society shall not redeem Fund shares attributable to the Certificates (as opposed to Fund shares attributable to the Society’s assets held in the Account) except (i) as necessary to implement Certificate Holder-initiated or approved transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”), or (iii) as necessary to effect a substitution, including but not limited to, a substitution permitted by an order of the SEC pursuant to Section 26(c) of the 1940 Act, but only if a substitution of other securities for the shares of the Funds is consistent with the terms of the Certificates, or (iv) as permitted under the terms of the Certificate. Upon request, the Society will promptly furnish to the Series and AFD an opinion of counsel for the Society (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
Limitations on Redemptions. (a) In addition to the Sponsor’s discretion to elect to apply the limitations set forth in Section 7.01(d) and Section 7.01(e), the right of any Shareholder or its legal representatives to request redemption of its Shares and to have distributed to it any such amount (or any portion thereof) pursuant to this Article 7 is subject to the provision by the Sponsor for all Trust liabilities in accordance with the Trust Act and for reserves for contingencies and estimated accrued expenses and liabilities. Such reserves may be invested in the same manner as other assets of the Trust, placed in an interest-bearing account or dealt with in such other manner as the Sponsor deems appropriate.
(b) The Sponsor, by written notice to the Shareholders, may suspend redemption rights, in whole or in part: (i) during the existence of any state of affairs as a result of which, in the opinion of the Sponsor, disposal of investments by the Trust would not be reasonably practicable, would be seriously prejudicial to the non-redeeming Shareholders or would otherwise not be in the best interests of the Trust; (ii) during any breakdown in the means of communication normally employed in determining the price or value of the Trust’s assets or liabilities, or of current prices in any stock market as aforesaid, or when for any other reason the prices or values of any assets or liabilities of the Trust cannot reasonably be promptly and accurately ascertained; or (iii) during any period when the transfer of funds involved in the realization or acquisition of any investments cannot, in the opinion of the Sponsor, be effected at normal rates of exchange. In addition, the Sponsor, by written notice to any Shareholder, may suspend payment of redemption proceeds to such Shareholder if the Sponsor reasonably deems it necessary to do so to comply with anti-money laundering laws and regulations applicable to the Trust, the Sponsor and their affiliates, subsidiaries or associates or any of the Trust’s other service providers.
(c) The Sponsor may withhold taxes from any payments for redemptions or other distributions to any Shareholder, or in respect of allocations of Trust net or gross income or gain, to the extent required by the Code or any other applicable law. For purposes of this Agreement, any taxes so withheld by the Trust with respect to any redemption payments or other distributions by the Trust on any Shares, or in respect of allocations of Trust net or gross income or gain, shall be de...
Limitations on Redemptions. 21 ARTICLE 10.
Limitations on Redemptions. C.M. Life shall not redeem Fund shares attributable to the Contracts (as opposed to Fund shares attributable to C.M. Life’s assets held in the Account) except (i) as necessary to implement Contract owner-initiated transactions, or (ii) as required by state and/or federal laws or regulations or judicial or other legal precedent of general application (a “Legally Required Redemption”). Upon request, C.M. Life will promptly furnish to the Series and AFD an opinion of counsel for C.M. Life (which counsel shall be reasonably satisfactory to the Series and AFD) to the effect that any redemption pursuant to clause (ii) above is a Legally Required Redemption.
