Common use of Mandatory Redemptions Clause in Contracts

Mandatory Redemptions. (a) The Manager may mandatorily redeem part or all of the Units held by a particular Investor if the Manager determines that (i) such Investor’s continued holding of Units could result in adverse consequences to this Fund, (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of the Program, (iii) such Investor’s investment in the Units, or aggregate investment in FuturesAccess, is below the minimum level established by the Manager (including any increase in such minimum level that the Manager may implement in the future), or (iv) for any other reason. (b) The Manager may mandatorily redeem all of a FuturesAccess Fund’s outstanding Units in the event that the Manager concludes that it is no longer advisable to place client capital with the trading advisor or if the amount of assets invested in this Fund declines to a level that the Manager believes makes the continued operation of this Fund impracticable or uneconomical. (c) Units mandatorily redeemed shall be redeemed as of the specified month-end without any further action on the part of the affected Investor, and the provisions of Sections 3.02 and 3.07 shall apply. In the event that the Manager mandatorily redeems any of an Investor’s Units, such Investor shall have the option to redeem all of such Investor’s Units as of the date fixed for redemption. Payment of mandatory redemption proceeds shall be made.

Mandatory Redemptions. (a) The Manager may mandatorily redeem part or all of the Units held by a particular Investor if the Manager determines that (i) such Investor’s 's continued holding of Units could result in adverse consequences to this Fund, (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of the ProgramPrograms, (iii) such Investor’s 's investment in the Units, or aggregate investment in FuturesAccessthe FuturesAccess Program, is below the minimum level established by the Manager (including any increase in such minimum level that the Manager may implement in the future), or (iv) for any other reason. (b) The Manager may will mandatorily redeem all of a FuturesAccess Fund’s 's outstanding Units in the event that the Manager concludes that it is no longer advisable to place client capital with the trading advisor Trading Advisor or if the amount of assets invested in this Fund declines to a level that the Manager believes makes the continued operation of this Fund impracticable or uneconomical. (c) Units mandatorily redeemed shall be redeemed as of the specified month-end without any further action ML Appleton FuturesAccess LLC Limited Liability Company Operating Xxxxxxxxx on the part of the affected Investor, and the provisions of Sections 3.02 and 3.07 shall apply. In the event that the Manager mandatorily redeems any of an Investor’s 's Units, such Investor shall have the option to redeem all of such Investor’s 's Units as of the date fixed for redemption. Payment of mandatory redemption proceeds shall be made.

Mandatory Redemptions. (a) The Manager may mandatorily redeem part or all of the Units held by a particular Investor if the Manager determines that (i) such Investor’s 's continued holding of Units could result in adverse consequences to this Fund, (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of the ProgramPrograms, (iii) such Investor’s 's investment in the Units, or aggregate investment in FuturesAccessthe FuturesAccess Program, is below the minimum level established by the Manager (including any increase in such minimum level that the Manager may implement in the future), or (iv) for any other reason. (b) The Manager may will mandatorily redeem all of a FuturesAccess Fund’s 's outstanding Units in the event that the Manager concludes that it is no longer advisable to place client capital with the trading advisor Trading Advisor or if the amount of assets invested in this Fund declines to a level that the Manager believes makes the continued operation of this Fund impracticable or uneconomical. (c) Units mandatorily redeemed shall be redeemed as of the specified month-end without any further action ML Aspect FuturesAccess LLC Limited Liability Company Operating Agreement on the part of the affected Investor, and the provisions of Sections 3.02 and 3.07 shall apply. In the event that the Manager mandatorily redeems any of an Investor’s 's Units, such Investor shall have the option to redeem all of such Investor’s 's Units as of the date fixed for redemption. Payment of mandatory redemption proceeds shall be made.

Mandatory Redemptions. (a) The Manager may mandatorily redeem part or all of the Units held by a particular Investor if the Manager determines that (i) such Investor’s 's continued holding of Units could result in adverse consequences to this Fund, (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of the ProgramPrograms, (iii) such Investor’s 's investment in the Units, or aggregate investment in FuturesAccessthe FuturesAccess Program, is below the minimum level established by the Manager (including any increase in such minimum level that the Manager may implement in the future), or (iv) for any other reason. (b) The Manager may will mandatorily redeem all of a FuturesAccess Fund’s 's outstanding Units in the event that the Manager concludes that it is no longer advisable to place client capital with the trading advisor Trading Advisor or if the amount of assets invested in this Fund declines to a level that the Manager believes makes the continued operation of this Fund impracticable or uneconomical. (c) Units mandatorily redeemed shall be redeemed as of the specified month-end without any further action ML Cornerstone FuturesAccess LLC Limited Liability Company Operating Agreement on the part of the affected Investor, and the provisions of Sections 3.02 and 3.07 shall apply. In the event that the Manager mandatorily redeems any of an Investor’s 's Units, such Investor shall have the option to redeem all of such Investor’s 's Units as of the date fixed for redemption. Payment of mandatory redemption proceeds shall be made.

Mandatory Redemptions. (a) The Manager may mandatorily redeem part or all of the Units held by a particular Investor if the Manager determines that (i) such Investor’s 's continued holding of Units could result in adverse consequences to this Fund, (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of the ProgramPrograms, (iii) such Investor’s 's investment in the Units, or aggregate investment in FuturesAccessthe FuturesAccess Program, is below the minimum level established by the Manager (including any increase in such minimum level that the Manager may implement in the future), or (iv) for any other reason. (b) The Manager may will mandatorily redeem all of a FuturesAccess Fund’s 's outstanding Units in the event that the Manager concludes that it is no longer advisable to place client capital with the trading advisor Trading Advisor or if the amount of assets invested in this Fund declines to a level that the Manager believes makes the continued operation of this Fund impracticable or uneconomical. (c) Units mandatorily redeemed shall be redeemed as of the specified month-end without any further action XX Xxxxxx FuturesAccess LLC Limited Liability Company Operating Agreement on the part of the affected Investor, and the provisions of Sections 3.02 and 3.07 shall apply. In the event that the Manager mandatorily redeems any of an Investor’s 's Units, such Investor shall have the option to redeem all of such Investor’s 's Units as of the date fixed for redemption. Payment of mandatory redemption proceeds shall be made.