Common use of Redemption Price and Payment Clause in Contracts

Redemption Price and Payment. The proceeds per Unit payable on redemption determined on the applicable Valuation Day will equal the Series Net Asset Value per Unit on the Valuation Day as determined above. No fee or other charge shall be deducted by the Manager, the Trustee, in its capacity as such, or such Fund in respect of such payment. The proceeds will become due on the Valuation Day except that, if payment of the proceeds is suspended under Section 5.3, the proceeds will cease to be due and will become due on the Valuation Day established pursuant to Section 5.3 (or on the termination of the suspension if the suspension lasts for less than 48 hours). As directed by the Manager, the Trustee shall, within three Business Days after the Valuation Date as of which the valuation is made, or such later date that may apply under the provisions of Section 5.3, arrange for the payment of the value of the Units being redeemed by the mailing or delivery of a cheque or by such other method of payment as the Manager may determine in its discretion including electronic funds transfer and payment in kind in the relevant amount in Canadian funds determined in accordance with Section 5.1 (less any amount required to be withheld) to the Unitholder at his last address as shown in the record of Unitholders of such Fund or to such other payee or address as the Unitholder may in writing direct. Neither the Trustee nor the Manager shall have any obligation to advance or loan funds or otherwise extend credit to the Fund for any purpose, including for the making of a redemption payment. Any cheque so delivered or mailed, unless not honoured, and any such payment shall on presentation, discharge the applicable Fund, the Trustee and the Manager from all liability to the Unitholder in respect of the amount thereof plus any amount withheld in respect of the Units redeemed. For greater certainty, where a Unitholder is or becomes a citizen or resident of the United States or a resident of any other foreign country, the Manager shall be entitled, at any time and from time to time, at its discretion, to compulsorily cause to be withdrawn all or any part of the Units held by any such Unitholder if such holding has the potential to cause adverse regulatory or tax consequences for a Fund or other Unitholders of a Fund, on such terms and conditions as the Manager may, from time to time, determine, at its discretion, for an amount in Canadian funds equal to the aggregate Series Net Asset Value per Unit of the Units withdrawn determined as of the Valuation Day of withdrawal, and, if all of a Unitholder’s Units of the Fund are compulsorily withdrawn, all undistributed net income and net realized capital gains of the Fund credited or made payable in respect of such Units prior to the Valuation Day of withdrawal and any other unpaid distributions which have been credited or made payable thereon prior to the Valuation Day of withdrawal. For greater certainty, any amount required to be paid to a Unitholder pursuant to this Section 5.2 shall be considered to have been fully paid to a Unitholder where the Manager has paid the Unitholder such amount net of taxes or other amounts required to be withheld under the laws of the United States or any other foreign country. The Manager shall direct the Trustee as necessary to effect the foregoing in connection with compulsory redemption.

Redemption Price and Payment. The proceeds per Unit payable on redemption determined on the applicable Valuation Day will equal the Series Net Asset Value per Unit on the Valuation Day as determined above. No fee or other charge shall be deducted by the Manager, the Trustee, in its capacity as such, or such Fund in respect of such payment. The proceeds will become due on the Valuation Day except that, if payment of the proceeds is suspended under Section 5.3, the proceeds will cease to be due and will become due on the Valuation Day established pursuant to Section 5.3 (or on the termination of the suspension if the suspension lasts for less than 48 hours). As directed by the Manager, the Trustee shall, within the time period permitted by Applicable Laws (and in any event within three Business Days Days) after the Valuation Date as of which the valuation is made, or such later date that may apply under the provisions of Section 5.3, arrange for the payment of the value of the Units being redeemed by the mailing or delivery of a cheque or by such other method of payment as the Manager may determine in its discretion including electronic funds transfer and payment in kind in the relevant amount in Canadian funds determined in accordance with Section Section 5.1 (less any amount required to be withheld) to the Unitholder at his last address as shown in the record of Unitholders of such Fund or to such other payee or address as the Unitholder may in writing direct. Neither the Trustee nor the Manager shall have any obligation to advance or loan funds or otherwise extend credit to the Fund for any purpose, including for the making of a redemption payment. Any cheque so delivered or mailed, unless not honoured, and any such payment shall on presentation, discharge the applicable Fund, the Trustee and the Manager from all liability to the Unitholder in respect of the amount thereof plus any amount withheld in respect of the Units redeemed. For greater certainty, where a Unitholder is or becomes a citizen or resident of the United States or a resident of any other foreign country, the Manager shall be entitled, at any time and from time to time, at its discretion, to compulsorily cause to be withdrawn all or any part of the Units held by any such Unitholder if such holding has the potential to cause adverse regulatory or tax consequences for a Fund or other Unitholders of a Fund, on such terms and conditions as the Manager may, from time to time, determine, at its discretion, for an amount in Canadian funds equal to the aggregate Series Net Asset Value per Unit of the Units withdrawn determined as of the Valuation Day of withdrawal, and, if all of a Unitholder’s Units of the Fund are compulsorily withdrawn, all undistributed net income and net realized capital gains of the Fund credited or made payable in respect of such Units prior to the Valuation Day of withdrawal and any other unpaid distributions which have been credited or made payable thereon prior to the Valuation Day of withdrawal. For greater certainty, any amount required to be paid to a Unitholder pursuant to this Section 5.2 shall be considered to have been fully paid to a Unitholder where the Manager has paid the Unitholder such amount net of taxes or other amounts required to be withheld under the laws of the United States or any other foreign country. The Manager shall direct the Trustee as necessary to effect the foregoing in connection with compulsory redemption.

Redemption Price and Payment. The proceeds per Unit payable on redemption determined on the applicable Valuation Day will equal the Series Net Asset Value per Unit on the Valuation Day as determined above. No fee or other charge shall be deducted by the Manager, the Trustee, in its capacity as such, or such Fund in respect of such paymentpayment (unless, with respect to the Xxxxxxxx, Xxxxx & North Mortgage Pension Trust, as otherwise disclosed in that Fund’s offering document). The proceeds will become due on the Valuation Day except that, if payment of the proceeds is suspended under Section 5.3, the proceeds will cease to be due and will become due on the Valuation Day established pursuant to Section 5.3 (or on the termination of the suspension if the suspension lasts for less than 48 hours). As directed by the Manager, the Trustee shall, shall (i) within the time period permitted by Applicable Laws (and in any event within three Business Days Days) after the Valuation Date as of which the valuation is mademade for all Funds except as otherwise provided herein, or (ii) within such other date as may be disclosed in the offering document for the Xxxxxxxx, Xxxxx & North Mortgage Pension Trust, or (iii) such later date that may apply under the provisions of Section 5.3, arrange for the payment of the value of the Units being redeemed by the mailing or delivery of a cheque or by such other method of payment as the Manager may determine in its discretion including electronic funds transfer and payment in kind in the relevant amount in Canadian funds determined in accordance with Section Section 5.1 (less any amount required to be withheld) to the Unitholder at his last address as shown in the record of Unitholders of such Fund or to such other payee or address as the Unitholder may in writing direct. Redemption proceeds with respect to the Xxxxxxxx, Xxxxx & North Mortgage Pension Trust and the Xxxxxxxx, Xxxxx & North Long Mortgage Pension Trust may be delivered by issuing promissory notes as described in such Fund’s offering document. Neither the Trustee nor the Manager shall have any obligation to advance or loan funds or otherwise extend credit to the a Fund for any purpose, including for the making of a redemption payment. Any cheque so delivered or mailed, unless not honoured, and any such payment shall on presentation, discharge the applicable Fund, the Trustee and the Manager from all liability to the Unitholder in respect of the amount thereof plus any amount withheld in respect of the Units redeemed. For greater certainty, where a Unitholder is or becomes a citizen or resident of the United States or a resident of any other foreign country, the Manager shall be entitled, at any time and from time to time, at its discretion, to compulsorily cause to be withdrawn all or any part of the Units held by any such Unitholder if such holding has the potential to cause adverse regulatory or tax consequences for a Fund or other Unitholders of a Fund, on such terms and conditions as the Manager may, from time to time, determine, at its discretion, for an amount in Canadian funds equal to the aggregate Series Net Asset Value per Unit of the Units withdrawn determined as of the Valuation Day of withdrawal, and, if all of a Unitholder’s Units of the Fund are compulsorily withdrawn, all undistributed net income and net realized capital gains of the Fund credited or made payable in respect of such Units prior to the Valuation Day of withdrawal and any other unpaid distributions which have been credited or made payable thereon prior to the Valuation Day of withdrawal. For greater certainty, any amount required to be paid to a Unitholder pursuant to this Section 5.2 shall be considered to have been fully paid to a Unitholder where the Manager has paid the Unitholder such amount net of taxes or other amounts required to be withheld under the laws of the United States or any other foreign country. The Manager shall direct the Trustee as necessary to effect the foregoing in connection with compulsory redemption.

Redemption Price and Payment. The proceeds per Unit payable on redemption determined on the applicable Valuation Day will equal the Series Net Asset Value per Unit on the Valuation Day as determined above. No fee or other charge shall be deducted by the Manager, the Trustee, in its capacity as such, or such Fund in respect of such payment. The proceeds will become due on the Valuation Day except that, if payment of the proceeds is suspended under Section 5.3, the proceeds will cease to be due and will become due on the Valuation Day established pursuant to Section 5.3 (or on the termination of the suspension if the suspension lasts for less than 48 hours). As directed by the Manager, the Trustee shall, within three Business Days after the Valuation Date as of which the valuation is made, or such later date that may apply under the provisions of Section 5.3, arrange for the payment of the value of the Units being redeemed by the mailing or delivery of a cheque or by such other method of payment as the Manager may determine in its discretion including electronic funds transfer and payment in kind in the relevant amount in Canadian funds determined in accordance with Section Section 5.1 (less any amount required to be withheld) to the Unitholder at his last address as shown in the record of Unitholders of such Fund or to such other payee or address as the Unitholder may in writing direct. Neither the Trustee nor the Manager shall have any obligation to advance or loan funds or otherwise extend credit to the Fund for any purpose, including for the making of a redemption payment. Any cheque so delivered or mailedmailed shall, unless not honoured, and any such payment shall honoured on presentation, discharge the applicable Fund, the Trustee and the Manager from all liability to the Unitholder in respect of the amount thereof plus any amount withheld in respect of the Units redeemed. For greater certainty, where a Unitholder is or becomes a citizen or resident of the United States or a resident of any other foreign country, the Manager shall be entitled, at any time and from time to time, at its discretion, to compulsorily cause to be withdrawn all or any part of the Units held by any such Unitholder if such holding has the potential to cause adverse regulatory or tax consequences for a Fund or other Unitholders of a Fund, on such terms and conditions as the Manager may, from time to time, determine, at its discretion, for an amount in Canadian funds equal to the aggregate Series Net Asset Value per Unit of the Units withdrawn determined as of the Valuation Day of withdrawal, and, if all of a Unitholder’s Units of the Fund are compulsorily withdrawn, all undistributed net income and net realized capital gains of the Fund credited or made payable in respect of such Units prior to the Valuation Day of withdrawal and any other unpaid distributions which have been credited or made payable thereon prior to the Valuation Day of withdrawal. For greater certainty, any amount required to be paid to a Unitholder pursuant to this Section 5.2 shall be considered to have been fully paid to a Unitholder where the Manager has paid the Unitholder such amount net of taxes or other amounts required to be withheld under the laws of the United States or any other foreign country. The Manager shall direct the Trustee as necessary to effect the foregoing in connection with compulsory redemption.

Redemption Price and Payment. The proceeds per Unit payable on redemption determined on the applicable Valuation Day will equal the Series Net Asset Value per Unit on the Valuation Day as determined above. No fee or other charge shall be deducted by the Manager, the Trustee, in its capacity as such, or such Fund in respect of such paymentpayment (unless, with respect to the Xxxxxxxx, Xxxxx & North Mortgage Pension Trust, as otherwise disclosed in that Fund’s offering document). The proceeds will become due on the Valuation Day except that, if payment of the proceeds is suspended under Section 5.3, the proceeds will cease to be due and will become due on the Valuation Day established pursuant to Section 5.3 (or on the termination of the suspension if the suspension lasts for less than 48 hours). As directed by the Manager, the Trustee shall, shall (i) within the time period permitted by Applicable Laws (and in any event within three Business Days Days) after the Valuation Date as of which the valuation is mademade for all Funds except as otherwise provided herein, or (ii) within such other date as may be disclosed in the offering document for the Xxxxxxxx, Xxxxx & North Mortgage Pension Trust, or (iii) such later date that may apply under the provisions of Section 5.3, arrange for the payment of the value of the Units being redeemed by the mailing or delivery of a cheque or by such other method of payment as the Manager may determine in its discretion including electronic funds transfer and payment in kind in the relevant amount in Canadian funds determined in accordance with Section Section 5.1 (less any amount required to be withheld) to the Unitholder at his last address as shown in the record of Unitholders of such Fund or to such other payee or address as the Unitholder may in writing direct. Redemption proceeds with respect to the Xxxxxxxx, Xxxxx & North Mortgage Pension Trust may be delivered by issuing promissory notes as described in that Fund’s offering document. Neither the Trustee nor the Manager shall have any obligation to advance or loan funds or otherwise extend credit to the a Fund for any purpose, including for the making of a redemption payment. Any cheque so delivered or mailed, unless not honoured, and any such payment shall on presentation, discharge the applicable Fund, the Trustee and the Manager from all liability to the Unitholder in respect of the amount thereof plus any amount withheld in respect of the Units redeemed. For greater certainty, where a Unitholder is or becomes a citizen or resident of the United States or a resident of any other foreign country, the Manager shall be entitled, at any time and from time to time, at its discretion, to compulsorily cause to be withdrawn all or any part of the Units held by any such Unitholder if such holding has the potential to cause adverse regulatory or tax consequences for a Fund or other Unitholders of a Fund, on such terms and conditions as the Manager may, from time to time, determine, at its discretion, for an amount in Canadian funds equal to the aggregate Series Net Asset Value per Unit of the Units withdrawn determined as of the Valuation Day of withdrawal, and, if all of a Unitholder’s Units of the Fund are compulsorily withdrawn, all undistributed net income and net realized capital gains of the Fund credited or made payable in respect of such Units prior to the Valuation Day of withdrawal and any other unpaid distributions which have been credited or made payable thereon prior to the Valuation Day of withdrawal. For greater certainty, any amount required to be paid to a Unitholder pursuant to this Section 5.2 shall be considered to have been fully paid to a Unitholder where the Manager has paid the Unitholder such amount net of taxes or other amounts required to be withheld under the laws of the United States or any other foreign country. The Manager shall direct the Trustee as necessary to effect the foregoing in connection with compulsory redemption.