Redemption Distribution Clause Samples
The Redemption Distribution clause outlines the process and terms under which assets or funds are distributed to investors or stakeholders when they redeem their interests in an entity, such as a fund or partnership. Typically, this clause specifies the timing, method, and calculation of distributions, including any applicable fees or adjustments based on the value of the redeemed interest. Its core practical function is to ensure a clear and fair mechanism for returning capital to investors, thereby reducing disputes and providing transparency in the redemption process.
Redemption Distribution. (A) On the Redemption Date the Partnership shall distribute to Prudential, as a "REDEMPTION DISTRIBUTION" in full redemption of the Prudential Interest, (i) the Partnership's entire right, title and interest in, to and under the Investment Notes (subject to the Prudential Guarantied Loan) and all rights in, to and under the other instruments and agreements relating to the Investment Loan (collectively, the "INVESTMENT LOAN DOCUMENTS") (provided that, -------- ---- the Partnership shall retain all claims, rights, obligations and liabilities under the Investment Loan Documents accruing prior to the Redemption Date (except the right to any accrued and unpaid interest under the Investment Notes distributed to Prudential as of the Redemption Date, which shall be paid to Prudential after the Redemption Date and which is included and accounted for in the calculation of the Fair Market Value of the Investment Notes pursuant to Exhibit A attached hereto), and if the Partnership retains any Remainder Notes --------- pursuant to the provisions of this Section 2(a) below, the Partnership shall ------------ retain all rights, obligations and liabilities under the Investment Loan Documents relating to such Remainder Notes, if any, retained by the Partnership (both accruing prior to and after the Redemption Date), (ii) if the Redemption Amount exceeds the aggregate Fair Market Value of the Investment Notes, cash in an amount equal to the difference between the Redemption Amount and the aggregate Fair Market Value of the Investment Notes, and (iii) if and to the extent that the Partnership has not already distributed to Prudential the OP Units, the OP Units. Notwithstanding the foregoing, if the aggregate Fair Market Value of all Investment Notes on the Redemption Date exceeds the Redemption Amount on such date, then (A) on the Redemption Date the Partnership shall assign to Prudential its entire interest in only such Investment Notes (in the order provided in the next sentence) that collectively have an aggregate Fair Market Value at the time of such assignment equal to the Redemption Amount, and (B) the Partnership shall cause any individual Investment Note which is only partially assigned to Prudential in accordance with the next sentence to be replaced by the issuer thereof with two notes in accordance with the terms and provisions of the next sentence. In connection with the distribution of Investment Notes pursuant to the immediately preceding sentence, the Partners...
Redemption Distribution. The property delivered in satisfaction of a redemption of a Redemption Basket as specified in Section 5.02(c).
Redemption Distribution. The Redemption Distribution with respect to each Initial Fund shall consist of cash in an amount equal to the product obtained by multiplying (i) the number of Redemption Units set forth in the relevant Redemption Order by (ii) the Value per Creation Unit of such Fund as of the time of the calculation of such Fund’s Class Values on the Redemption Order Date.
Redemption Distribution. A new Subsection 6.2(i) is hereby added to the Partnership Agreement to read as follows:
(i) Notwithstanding the foregoing, the General Partner may, in its sole discretion, at any time on or after June 4, 2003, when any Series E Cumulative Redeemable Preferred Stock is outstanding, make one or more special distributions to itself, alone, on account of the Series E Cumulative Redeemable Preferred Interest, for the sole purpose of, and in an amount no greater than such amount as will be used by the General Partner for, redemption of all or any portion of the outstanding Series E Cumulative Redeemable Preferred Stock (any such distribution shall be referred to as a "Series E Cumulative Redeemable Preferred Interest Redemption Distribution"). There shall be no adjustment of the then current Percentage Interests of the Partners on account of any Series E Cumulative Redeemable Preferred Interest Redemption Distribution.
Redemption Distribution. (c) of the Partnership Agreement is hereby deleted in its entirety, and the following is hereby substituted in the place thereof:
Redemption Distribution. The property delivered in satisfaction of a redemption of a Redemption Basket as specified in Section 5.02(c). Redemption Order Shall have the meaning assigned thereto in Section 5.02(a). Redemption Order Date Shall have the meaning assigned thereto in Section 5.02(b). Redemption Settlement Date Shall have the meaning assigned thereto in Section 5.02(d). Rules The rules, regulations, practices and customs of the LBMA or the COMEX as the context shall indicate, or in the case of Gold as defined in clause (c) of the definition of Gold herein, the rules, regulations, practices and customs of the market and jurisdiction where such Gold is traded. SEC The Securities and Exchange Commission. Sponsor World Gold Trust Services, LLC, or any entity into which it may be merged or with which it may be consolidated, or any entity resulting from any merger or consolidation to which it shall be a party, or any entity succeeding to all or substantially all of its business as sponsor of the Trust, or any successor Sponsor designated as such by operation of law or any successor Sponsor appointed as herein provided. Sponsor Indemnified Party Shall have the meaning assigned to such term in Section 7.05(b).
Redemption Distribution. Upon a Partner's withdrawal, the Partnership shall, to the extent reasonably practicable, distribute to the Partner cash or property or both, as determined by the Investment Committee in its sole discretion, having an aggregate value equal to the aggregate value of the Units held by the withdrawing Partner. Such distributions shall be given the effect described in ARTICLE 10 above relating to allocations of income, gain, deduction and loss.
Redemption Distribution