Redemption of Interests. (a) If at any time a Limited Partner or Assignee fails to furnish a Citizenship Certification or other information requested within the 30-day period specified in Section 11.5(a), or if upon receipt of such Citizenship Certification or other information the General Partner determines, with the advice of counsel, that a Limited Partner or Assignee is not an Eligible Citizen, the Partnership may, unless the Limited Partner or Assignee establishes to the satisfaction of the General Partner that such Limited Partner or Assignee is an Eligible Citizen or has transferred his Units to a Person who furnishes a Citizenship Certification to the General Partner prior to the date fixed for redemption as provided below, redeem the Partnership Interest of such Limited Partner or Assignee as follows:
(i) The General Partner shall, not later than the 30th day before the date fixed for redemption, give notice of redemption to the Limited Partner or Assignee, at his last address designated on the records of the Partnership or the Transfer Agent, by registered or certified mail, postage prepaid. The notice shall be deemed to have been given when so mailed. The notice shall specify the Redeemable Units, the date fixed for redemption, the place of payment, that payment of the redemption price will be made upon surrender of the Certificate evidencing the Redeemable Units, or other evidence of the issuance of uncertificated Units, and that on and after the date fixed for redemption no further allocations or distributions to which the Limited Partner or Assignee would otherwise be entitled in respect of the Redeemable Units will accrue or be made.
(ii) The aggregate redemption price for Redeemable Units shall be an amount equal to the Current Market Price (the date of determination of which shall be the date fixed for redemption) of Units of the class to be so redeemed multiplied by the number of Units of each such class included among the Redeemable Units. The redemption price shall be paid, in the sole discretion of the General Partner, in cash or by delivery of a promissory note of the Partnership in the principal amount of the redemption price, bearing interest at the rate of 10% annually and payable in three equal annual installments of principal together with accrued interest, commencing one year after the redemption date.
(iii) Upon surrender by or on behalf of the Limited Partner or Assignee, at the place specified in the notice of redemption, of the Certificate evidencin...
Redemption of Interests. Any Interest may be redeemed by the Company, by purchase or otherwise, as determined by the Member with the approval of the Member.
Redemption of Interests. (a) A Member (the “Requesting Member”) may request redemption of his or her Interest upon not less than sixty (60) calendar days’ prior written notice to the Board of Directors. The Board, in its sole discretion, shall determine whether to redeem such Interest and the Board is under no obligation to redeem any Interest of any Requesting Member.
(b) Notwithstanding anything contained herein to the contrary, any redemption pursuant to this Section 10.7 shall be subject to a determination by the Board, in its sole discretion, that such redemption shall not cause the Company to be deemed a Publicly Traded Partnership, and such redemption shall be affected in accordance with this Agreement, the Act, the Code and applicable Treasury Regulations, and shall be further subject to the prior approval of the Board which may be withheld in its sole discretion.
Redemption of Interests. In the event of a redemption by the Company of any Series A-1 Interests (other than pursuant to Section 5.1.3 of the LP Agreement, or in connection with the exercise of indirect registration rights as contemplated herein (including Section 2.1 hereof)), the General Partner shall cause the Company to redeem Series A-1 Interests held by the Limited Partners on a pro rata basis.
Redemption of Interests. 7.2.1 Limited Partners may apply for redemption of all or part of their Interests on each Redemption Day at a Redemption Price equal to the Net Asset Value for that Redemption Day. The Net Asset Value for the Redemption Day at which an application will be processed is unknown to the Limited Partners when they place their redemption applications.
7.2.2 The General Partner may defer redemptions for a Class of Interest at a particular Redemption Day to the next Redemption Day where the requested redemptions exceed 5% of the Net Asset Value of such Class of Interest. The General Partner will pro-rate all such redemption requests to the stated level and will defer the remainder until the next Redemption Day and all following Redemption Days until the original request has been satisfied in full.
7.2.3 Limited Partners wishing to redeem their Interest in part or in whole must submit a redemption form. The redemption form must be submitted to the Central Administration Agent following the instructions on such form. The redemption form is available from the Central Administration Agent on request.
7.2.4 The General Partner will only process redemption applications that it considers clear and complete. Applications will be considered complete only if the General Partner has received all information and supporting documentation it deems necessary to process the application. Unclear or incomplete applications may lead to delays in their execution. The Partnership will not accept liability for any loss suffered by applicants as a result of unclear or incomplete applications.
7.2.5 Applications must be submitted to the Central Administration Agent by 11 am. CET the day before the Redemption Day (the “Cut-Off Time”) for the Redemption Day in order for such applications to be processed, if accepted, at the Redemption Price applicable to that Redemption Day. Different Cut-Off Times may apply for applications submitted by investors in different time zones, provided that the applicable Cut-Off Time must always be earlier than the time when the applicable Net Asset Value is calculated. Limited Partners should refer to the local sales documents for their jurisdiction to find out which Cut-Off Time is applicable to them.
7.2.6 Applications received after the Cut-Off Time will be treated as deemed applications received by the Cut-Off Time for the next Redemption Day. However, the Partnership may accept redemption applications received after the Cut-Off Time subject to certain co...
Redemption of Interests. 43 SECTION 7.2 Redemption by the Managing Owner..................................................45 SECTION 7.3 Redemption Fee....................................................................45 SECTION 7.4 Exchange of Interests.............................................................45 ARTICLE VIII
Redemption of Interests. The Member recognizes that the profitability of the Company depends upon long-term, uninterrupted investment of capital. It is agreed, therefore, that Company profits may be automatically reinvested and that distributions of capital and gains, if any, to the Member will be on a limited basis. Nevertheless, the Member contemplates the possibility that it may elect to realize and withdraw gain, if any, or may desire to withdraw capital, prior to the dissolution of the Company pursuant to the redemption provisions of this Agreement.
Redemption of Interests. The Interest Holders recognize that the profitability of a Series depends upon long-term and uninterrupted investment of capital. It is agreed, therefore, that profits and gains of a Series may be automatically reinvested, and that the Manager does not intend to make any distributions. Nevertheless, the Interest Holders contemplate the possibility that one or more of the Interest Holders may elect to realize and withdraw profits, or withdraw capital, through the redemption of Interests prior to the dissolution of the Trust and each Series. In that regard and subject to the provisions of Section 4.2(h) hereof:
(a) Subject to the conditions set forth in this Article VII, each Interest Holder (or any permitted assignee thereof) shall have the right to request such Series to redeem any Interest in such Series in its entirety, or a portion thereof in even multiples of $1000, that he owns immediately after the close of business on the last day of a calendar month following the date the Manager is in receipt of written notice of redemption for ten (10) Business Days (a Redemption Date), commencing with the end of the first full calendar month of trading activity of such Series. Interests will be redeemed on a first in, first out basis based on the time of receipt of redemption requests. Interests which are redeemed will be deemed canceled, but such cancellation shall not reduce the maximum number of Interests that a Series may offer under Section 3.2 of this Trust Agreement. If an Interest Holder (or permitted assignee thereof) is permitted to request that the Series redeem any or all of his Interests in such Series as of a date other than a Redemption Date, such adjustments in the determination and allocation among the Interest Holders of such Series of profits, losses and items of income, gain, deduction, loss or credit for tax accounting purposes shall be made as are necessary or appropriate to reflect and give effect to the redemption.
(b) The value of an Interest for purposes of redemption shall be the book capital account balance of such Interest at the close of business on the Redemption Date, less any amount owing by such Interest Holder (and his permitted assignee, if any) to the Series pursuant to Sections 4.6(b), 5.3(h), 6.7 or 7.1(c) of this Trust Agreement. If redemption of an Interest shall be requested by a permitted assignee, all amounts which shall be owed to the relevant Series under Sections 4.6(b), 5.3(h), 6.7 or 7.1(c) hereof by the Interest ...
Redemption of Interests. Any Interest may be redeemed by the Company, by purchase or otherwise, upon the consent of the holder of such Interest and of Members holding a majority of the Percentage Interests held by all Members other than the holder of the Interest to be redeemed. Whenever any Interest is redeemed by the Company in accordance with this Section 7.6, the Percentage Interest of each Member outstanding immediately following such redemption will be increased proportionately, as appropriate, to maintain the aggregate Percentage Interests of the Members at 100%. The Management Committee will cause Schedule A to be amended to reflect any adjustment in the Percentage Interests of the Members in accordance with this Section 7.6.
Redemption of Interests. The consideration for distribution of an undivided interest in the Intellectual Property pursuant to Section 2.2 shall be Buyer's Interests liquidated by Seller pursuant to that section.
