Common use of Manner of Redemption Clause in Contracts

Manner of Redemption. Redemption from the FUND shall be computed on the basis of the applicable NAVPU on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR’s proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVPU. For the effective management of the FUND, the minimum amount for partial redemptions, the minimum holding period (and applicable redemption fee), and the required minimum maintaining balance in the FUND are stated in the PLAN/TRUST DEED. Should a redemption result to the investment in the FUND falling below the required minimum maintaining balance, the TRUSTEE shall automatically close the account without need of prior notification to the TRUSTOR, in which case, the entire balance of the FUND shall be paid through credit to the Settlement Account based on the applicable NAVPU for the day multiplied by the number of remaining unit holdings. Settlement of redemptions shall be in accordance with what is stated in the PLAN/TRUST DEED of the FUND. Changes thereof shall be subject to BSP Regulations. The TRUSTEE/MANAGER reserves the right to require from the TRUSTOR that written notice of redemption from the FUND be delivered in advance within the number of days specified in the PLAN/TRUST DEED. This required notice may be shortened or extended at the sole discretion of the TRUSTEE/MANAGER depending upon the investment and liquidity position of the FUND and the frequency and volume of requests for redemptions received by the TRUSTEE/MANAGER at any given time. Such notice may be made by the TRUSTEE/MANAGER by way of direct written notice to each TRUSTOR or through the publication of announcement in the TRUSTEE/MANAGER’s own website, posting of notices in the premises of the Head Office of the TRUSTEE/MANAGER, or posting/sending of notices in the approved platforms of all duly accredited distribution channels at least three (3) business days before the implementation of such requirement. The TRUSTEE/MANAGER also reserves the right to impose such other requirements or restrictions applicable to any redemption from the FUND depending on market conditions and as circumstances shall necessitate, for the preservation and/or benefit of the FUND and the investors.

Manner of Redemption. Redemption from the FUND shall be computed on the basis of the applicable NAVPU on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR’s /s’ proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVPU. For the effective management of the FUND, the minimum amount for partial redemptions, the minimum holding period (and applicable redemption fee)period, and the required minimum maintaining balance in the FUND are stated in the PLAN/TRUST PLAN(s)/TRUST DEED. Should a redemption result to the investment in the FUND FUND/s falling below the required minimum maintaining balance, the TRUSTEE shall automatically close the account without need of prior notification to the TRUSTOR/s, in which case, the entire balance of the FUND FUND/s shall be paid through credit to the TRUSTOR/s’ Settlement Account based on the applicable NAVPU for the day multiplied by the number of remaining unit holdings. Settlement of redemptions shall be in accordance with what is stated in the PLAN/TRUST PLAN(s)/TRUST DEED of the FUND. Changes thereof shall be subject to BSP Regulations. The TRUSTEE/MANAGER reserves the right to require from the TRUSTOR that TRUSTOR/s an advanced written notice of redemption from the FUND be delivered in advance within the number of days specified in the PLAN/TRUST PLAN(s)/TRUST DEED. This required notice may be shortened or extended at the sole discretion of the TRUSTEE/MANAGER depending upon the investment and liquidity position of the FUND and the frequency and volume of requests for redemptions received by the TRUSTEE/MANAGER at any given time. Such notice may be made by the TRUSTEE/MANAGER by way of direct written notice to each TRUSTOR TRUSTOR/s or through the publication of announcement in the TRUSTEE/MANAGER’s own website, posting of notices in the premises of the Head Office Office, BPI EOL, website, other channels and branches of the TRUSTEE/MANAGER, or posting/sending of notices in the approved platforms of all duly accredited distribution channels at least MANAGER not shorter than three (3) business banking days before the implementation of such requirement. The TRUSTEE/MANAGER also reserves the right to impose such other requirements or restrictions applicable to any redemption from the FUND depending on market conditions and as circumstances shall necessitate, for the preservation and/or benefit of the FUND and the investorschanges are implemented.

Manner of Redemption. In the event the Corporation redeems the Redemption from the FUND shall be computed on the basis of the applicable NAVPU on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR’s proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVPU. For the effective management of the FUNDShares pursuant to subsection (a) above, the minimum amount for partial redemptions, the minimum holding period Corporation shall send written notice of its intent or obligation to do so to each holder of record of such shares at least thirty (and applicable redemption fee), and the required minimum maintaining balance in the FUND are stated in the PLAN/TRUST DEED. Should a redemption result 30) days prior to the investment in Date of Redemption, which shall set forth the FUND falling below the required minimum maintaining balance, the TRUSTEE shall automatically close the account without need of prior notification to the TRUSTOR, in which case, the entire balance of the FUND shall be paid through credit to the Settlement Account based on the applicable NAVPU for the day multiplied by following: (i) the number of remaining unit holdingsshares to be redeemed by the Corporation from such shareholder; (ii) the aggregate number of Redemption Shares to be redeemed from all the holders thereof; (iii) the Date of Redemption; (iv) the Series BB Redemption Price per share; and (v) instructions to the holders thereof to surrender all certificates evidencing the Redemption Shares to the Corporation at its principal office (or such other place as may be designated in the notice by the Corporation); provided, however, that the failure of the Corporation to deliver such notice shall not relieve the Corporation of its obligation to redeem the Redemption Shares pursuant to the terms of this Section 8. Settlement Upon receipt of redemptions such notice, each holder of Redemption Shares shall surrender to the Corporation all certificates evidencing the shares to be redeemed as instructed, and, thereupon, the Corporation shall pay the Series BB Redemption Price for each such share to the order of the holder of the shares so redeemed and each such certificate and the shares evidenced thereby shall be in accordance with what is stated canceled and retired. No Redemption Shares redeemed by the Corporation shall be reissued by the Corporation. From and after the Date of Redemption set forth in the PLAN/TRUST DEED Corporation’s notice of the FUND. Changes thereof redemption, no further dividends shall be accrue upon any shares of Series BB Preferred Stock, subject to BSP Regulations. The TRUSTEE/MANAGER reserves the right to require from the TRUSTOR that written notice of redemption from the FUND be delivered in advance within the number of days specified in the PLAN/TRUST DEED. This required notice may be shortened or extended at the sole discretion of the TRUSTEE/MANAGER depending upon the investment and liquidity position of the FUND and the frequency and volume of requests for redemptions received by the TRUSTEE/MANAGER at any given time. Such notice may be made by the TRUSTEE/MANAGER by way of direct written notice to each TRUSTOR or through the publication of announcement in the TRUSTEE/MANAGER’s own website, posting of notices in the premises of the Head Office of the TRUSTEE/MANAGER, or posting/sending of notices in the approved platforms of all duly accredited distribution channels at least three (3) business days before the implementation of thereof on such requirement. The TRUSTEE/MANAGER also reserves the right to impose such other requirements or restrictions applicable to any redemption from the FUND depending on market conditions and as circumstances shall necessitate, for the preservation and/or benefit of the FUND and the investorsdate.

Manner of Redemption. Redemption from the FUND shall be computed on the basis of the applicable NAVPU NAVpu on the day the redemption is effected. Redemptions from the FUND shall result in the reduction of the TRUSTOR’s /s’ proportionate interest in the FUND. Such reductions shall be expressed in units based on the NAVPUNAVpu. For the effective management of the FUND, the minimum amount for partial redemptions, the minimum holding period (and applicable redemption fee)period, and the required minimum maintaining balance in the FUND are stated in the PLAN/TRUST PLAN(s)/TRUST DEED. Should a redemption result to the investment in the FUND FUND/s falling below the required minimum maintaining balance, the TRUSTEE shall automatically close the account without need of prior notification to the TRUSTOR/s, in which case, the entire balance of the FUND FUND/s shall be paid through credit to the TRUSTOR/s’ Settlement Account based on the applicable NAVPU NAVpu for the day multiplied by the number of remaining unit holdings. Settlement of redemptions shall be in accordance with what is stated in the PLAN/TRUST PLAN(s)/TRUST DEED of the FUND. Changes thereof shall be subject to BSP Regulations. The TRUSTEE/MANAGER reserves the right to require from the TRUSTOR that TRUSTOR/s an advanced written notice of redemption from the FUND be delivered in advance within the number of days specified in the PLAN/TRUST PLAN(s)/TRUST DEED. This required notice may be shortened or extended at the sole discretion of the TRUSTEE/MANAGER depending upon the investment and liquidity position of the FUND and the frequency and volume of requests for redemptions received by the TRUSTEE/MANAGER at any given time. Such notice may be made by the TRUSTEE/MANAGER by way of direct written notice to each TRUSTOR TRUSTOR/s or through the publication of announcement in the TRUSTEE/MANAGER’s own website, posting of notices in the premises of the Head Office Office, BPI EOL, website, other channels and branches of the TRUSTEE/MANAGER, or posting/sending of notices in the approved platforms of all duly accredited distribution channels at least MANAGER not shorter than three (3) business banking days before the implementation of such requirement. The TRUSTEE/MANAGER also reserves the right to impose such other requirements or restrictions applicable to any redemption from the FUND depending on market conditions and as circumstances shall necessitate, for the preservation and/or benefit of the FUND and the investorschanges are implemented.