Provisions on unit trading Clause Samples

Provisions on unit trading. Issue and redemption of units In general, units may be subscribed or redeemed on each valuation day. Subscriptions and redemptions shall take place on the basis of prices that are unknown to the investor at the time the application is made (forward pricing). All commissions, taxes and duties payable in relation to unit subscriptions and redemptions shall be borne by the investor. If units are acquired through banks that are not entrusted with distributing the units, the possibility cannot be ruled out that such banks will levy additional transaction charges. 6.2.1.1. Acceptance deadline (cut-off) Subscription, redemption and conversion applications must reach the Depositary not later than the acceptance deadline. Applications may be revoked at any time up to the acceptance deadline. Any application received after the acceptance deadline shall be held over for the next valuation day. For applications placed with authorised distributors in Liechtenstein and abroad, an earlier deadline may be set to ensure punctual forwarding to the Depositary. This may be obtained from the relevant authorised distributor. If the acceptance deadline does not fall on a Liechtenstein bank working day, it shall be brought forward to the last Liechtenstein bank working day prior to the date originally envisaged; the time of day of the deadline shall remain the same. For specific information, see Annex I. Conversion of units The exchange of units between sub-funds or unit classes of the Fund shall be permitted. Such "conversion" of units shall take place on the standard subscription and redemption terms and conditions set out in Annex I, "Sub-fund summary". The provisions of Section 6.2.1 shall be applicable. The Fund shall be at liberty to grant special conditions on a case-by-case basis in respect of issue or redemption commissions levied in the course of such conversions. In some countries a change of sub-fund or unit class may in certain cases involve the payment of duties, taxes or stamp duties. Criteria for suspending unit issues and redemptions Unit trading may be temporarily suspended if this is deemed absolutely essential by the Management Company with due regard to the best interests of the investors. Among other possible reasons, this step may be taken if a market which forms the basis for the valuation of a substantial part of the sub-fund’s assets is closed unexpectedly or if trading on such a market is restricted or suspended; if the valuation of the sub-fund assets ...