Redemption Proceeds. The redemption proceeds will be paid in the currency denomination of each Fund, being USD by way of a bank transfer. Redemption proceeds shall be paid, subject to the Company satisfying the solvency test as defined under the Act and there being sufficient liquidity in the Fund, in USD within one Business Day after the date upon which the redemption price applicable at the relevant Valuation day has been determined. As from the date on which a Shareholder’s Cell Share are redeemed, the former Shareholder shall rank as an unsecured creditor of the Company for the sum payable as redemption proceeds with respect to that Fund until such time as the redemption proceeds are debited from the redemption bank account held by the Company.
Appears in 6 contracts
Samples: Private Placement Memorandum Supplement, Private Placement Memorandum Supplement, Private Placement Memorandum Supplement
