Redemption of Shareholder's Interest By Action of Trust Sample Clauses
The 'Redemption of Shareholder's Interest By Action of Trust' clause defines the process by which a trust can repurchase or redeem a shareholder's interest in the trust. Typically, this clause outlines the circumstances under which redemption can occur, such as upon a shareholder's death, incapacity, or breach of agreement, and specifies the method for valuing and paying for the redeemed interest. Its core function is to provide a clear mechanism for the trust to regain control of shares, thereby ensuring stability in ownership and protecting the trust's ongoing operations from unwanted or disruptive changes in shareholder composition.
Redemption of Shareholder's Interest By Action of Trust. Subject to the provisions of the 1940 Act, the Trust may redeem some or all of the Shares of the Trust or one or more Series or Classes held by any Shareholder for any reason and under terms set by the Trustees, including by way of illustration, for the following reasons:
(a) the value of such Shares held by such Shareholder being less than the minimum amount established from time to time by the Trustees;
(b) the determination that direct or indirect ownership of Shares by any Person has become concentrated in such Shareholder to any extent that would disqualify that Series as a regulated investment company under the Code;
(c) the failure of a Shareholder to supply a tax identification or other identification or if the Trust is unable to verify a Shareholder's identity;
(d) the failure of a Shareholder to pay when due for the purchase of Shares issued to such Shareholder;
(e) the failure of a Shareholder to meet or maintain the qualifications for ownership of a particular Class or Series of Shares;
(f) the payment of account fees or other charges, expenses and/or fees as set by the Trustees, including without limitation any small account fees permitted by Section 4.4 hereof;
(g) the determination that ownership of Shares by a particular Shareholder is not in the best interests of the remaining Shareholders of the Trust or applicable Series or Class;
(h) the failure of a holder of Shares or other securities of the Trust to comply with a demand pursuant to Section 4.10 hereof;
(i) in connection with the termination of any Series or Class of Shares; or
(j) when the Trust is requested or compelled to do so by governmental authority or applicable law.
Redemption of Shareholder's Interest By Action of Trust. Subject to the provisions of the 1940 Act, the Trust may redeem some or all of the Shares of the Trust or one or more Series or Classes held by any Shareholder for any reason and under terms set by the Trustees, including by way of illustration, for the following reasons:
(a) the value of such Shares held by such Shareholder being less than the minimum amount established from time to time by the Trustees;
(b) the determination that direct or indirect ownership of Shares by any Person has become concentrated in such Shareholder to any extent that would disqualify that Series as a regulated investment company under the Code;
(c) the failure of a Shareholder to pay when due for the purchase of Shares issued to such Shareholder;
(d) the Trustees determine that redemption is appropriate or necessary to prevent harm to the Trust or its shareholders;
(e) in connection with the termination of any Series or Class of Shares; or
(f) when the Trust is requested or compelled to do so by governmental authority or applicable law.
Redemption of Shareholder's Interest By Action of Trust. Subject to the provisions of the 1940 Act, the Trust may redeem some or all of the Shares of the Trust or one or more Series or Classes held by any Shareholder for any reason and under terms set by the Trustees, including by way of illustration, for the following reasons:
Redemption of Shareholder's Interest By Action of Trust. Subject to the provisions of the 1940 Act, the Trust may redeem some or all of the Shares of the Trust or one or more Series or Classes held by any Shareholder for any reason and under terms set by the Trustees, including by way of illustration, for the following reasons:
(a) the value of such Shares held by such Shareholder being less than the minimum amount established from time to time by the Trustees;
(b) the failure of a Shareholder to supply a tax identification or other identification or if the Trust is unable to verify a Shareholder’s identity;
(c) the failure of a Shareholder to pay when due for the purchase of Shares issued to such Shareholder;
(d) the failure of a Shareholder to meet or maintain the qualifications for ownership of a particular Class or Series of Shares;
(e) the payment of account fees or other charges, expenses and/or fees as set by the Trustees, including without limitation any small account fees permitted by Section 4.4 hereof;
(f) the determination that ownership of Shares by a particular Shareholder is not in the best interests of the remaining Shareholders of the Trust or applicable Series or Class;
(g) the failure of a holder of Shares or other securities of the Trust to comply with a demand pursuant to Section 4.11 hereof;
(h) in connection with the termination of any Series or Class of Shares; or
(i) when the Trust is requested or compelled to do so by governmental authority or applicable law.