Common use of Redemption Price and Payment Clause in Contracts

Redemption Price and Payment. Upon redemption of Units, a Limited Partner will be entitled to receive a redemption price per Unit equal to the Net Asset Value Per Unit determined as of 5:00 p.m. (Toronto time) on the Redemption Date, less an amount equal to (i) 20% of any increase in Net Asset Value per Unit above the high water xxxx as of 5:00 p.m. on the Redemption Date in excess of Net Asset Value per Unit as of 5:00 p.m. on the immediately preceding Quarter end multiplied by (ii) the number of Units redeemed by the Limited Partner. If a redemption of Units occurs any time prior or up to 12 months from the initial subscription, a 7% value of the total redemption amount will be withheld. The total redemption amount is determined by multiplying the Net Asset Value on the Redemption Date by the number of Units being redeemed. If a redemption of Units occurs any time after 12 months and prior to the 24 month date from the initial subscription, a 5% value of the total redemption amount will be withheld. The total redemption amount is determined by multiplying the Net Asset Value on the Redemption Date by the number of Units being redeemed. The General Partner shall, within 20 business days after the Redemption Date on which a Limited Partner's Units are redeemed, make payment of the redemption price per Unit in respect of the Units redeemed together with any unpaid distribution in respect of such Units which became payable on or before such Redemption Date less any amount required to be withheld therefrom under applicable law. Payment shall be made in Canadian funds and may be made by wire transfer to the bank account of the Limited Partner, by the mailing or delivery of a cheque to the Limited Partner at his last address as shown on the Record of Limited Partners or by some other method as the General Partner deems appropriate. Any payment so made shall, unless a cheque is not honoured on presentation, discharge the Partnership and the General Partner from all liability to the Limited Partner in respect of the amount thereof plus any amount required by law to be withheld and the Units so redeemed shall be cancelled and not reissued.

Redemption Price and Payment. Upon Holders of Trust Units tendered for redemption of Units, a Limited Partner and to be redeemed will be entitled to receive a redemption price per Trust Unit equal to 95% of the Net Asset Value Per per Trust Unit determined as of 5:00 p.m. (Toronto time) the Redemption Valuation Date. Any unpaid distribution payable on or before the Redemption Valuation Date in respect of Trust Units to be redeemed on such Redemption Valuation Date will also be paid on the Redemption Payment Date, less an amount equal to (i) 20% of any increase in Net Asset Value per Unit above the high water xxxx as of 5:00 p.m. on the Redemption Date in excess of Net Asset Value per Unit as of 5:00 p.m. on the immediately preceding Quarter end multiplied by (ii) the number of Units redeemed by the Limited Partner. If a redemption of Units occurs any time prior or up to 12 months from the initial subscription, a 7% value of the total redemption amount will be withheld. The total redemption amount is determined by multiplying the Net Asset Value on the Redemption Date by the number of Units being redeemed. If a redemption of Units occurs any time after 12 months and prior to the 24 month date from the initial subscription, a 5% value of the total redemption amount will be withheld. The total redemption amount is determined by multiplying the Net Asset Value on the Redemption Date by the number of Units being redeemed. The General Partner Trustee shall, within 20 ten business days after the Redemption Valuation Date on which a Limited PartnerUnitholder's Trust Units are redeemed, make make, or arrange for the Transfer Agent to make, payment of the redemption price per Trust Unit in respect of the Trust Units redeemed together with any unpaid distribution in respect of such Trust Units which became payable on or before such Redemption Valuation Date less any amount required to be withheld therefrom under applicable law. Payment shall be made in Canadian funds and may be made by wire transfer to the bank account of the Limited Partner, by the mailing or CDS with instructions concerning delivery of a cheque to the Limited Partner at his last address as shown on the Record of Limited Partners CDS Participants or by some other method as the General Partner Trustee deems appropriate. Any payment so made shall, unless a cheque is not honoured on presentation, discharge the Partnership Fund and the General Partner Trustee from all liability to the Limited Partner Unitholder in respect of the amount thereof plus any amount required by law to be withheld withheld, and the Trust Units so redeemed shall be cancelled and not reissued.

Redemption Price and Payment. Upon redemption of UnitsUnits when private assets are less than 30% of total assets, a Limited Partner will be entitled to receive a redemption price per Unit equal to the Net Asset Value Per Unit determined as of 5:00 p.m. (Toronto time) on the Redemption Date, less an amount equal to (i) 20% of any increase in Net Asset Value per Unit above the high water xxxx as of 5:00 p.m. on the Redemption Date in excess of Net Asset Value per Unit as of 5:00 p.m. on the immediately preceding Quarter end multiplied by (ii) the number of Units redeemed by the Limited Partner. Upon redemption of Units when private assets are greater than 30% of total assets, a Limited Partner will be entitled to receive a redemption price per Unit equal to the Public Net Asset Value Per Unit determined as of 5:00pm (Toronto time) on the Redemption Date, net of any fees, multiplied by the number of Units redeemed by the Limited Partner. Upon redemption of Units when private assets are greater than 30% of the total assets, a Limited Partner will receive a redemption amount equal to the Private Net Asset Value per unit for each individual private holding to be valued and paid, within 30 days of Final Closing of a Liquidity Event for each holding, net of any fees, multiplied by the number of Units redeemed by the Limited Partner. If a redemption of Units occurs any time prior or up to 12 months from the initial subscription, a 7% value of the total redemption amount will be withheld. The total redemption amount is determined by multiplying the Net Asset Value on the Redemption Date by the number of Units being redeemed. If a redemption of Units occurs any time after 12 months and prior to the 24 month date from the initial subscription, a 5% value of the total redemption amount will be withheld. The total redemption amount is determined by multiplying the Net Asset Value on the Redemption Date by the number of Units being redeemed. The General Partner shall, within 20 business days after the Redemption Date on which a Limited Partner's Units are redeemedredeemed when private assets are less than 30% of total assets or Public Net Assets per unit when private assets are greater than 30%, will make payment of the redemption price per Unit in respect of the Units redeemed together with any unpaid distribution in respect of such Units which became payable on or before such Redemption Date less any amount required to be withheld therefrom under applicable law. Payment shall be made in Canadian funds and may be made by wire transfer to the bank account of the Limited Partner, by the mailing or delivery of a cheque to the Limited Partner at his last address as shown on the Record of Limited Partners or by some other method as the General Partner deems appropriate. Any payment so made shall, unless a cheque is not honoured on presentation, discharge the Partnership and the General Partner from all liability to the Limited Partner in respect of the amount thereof plus any amount required by law to be withheld and the Units so redeemed shall be cancelled and not reissued.