Common use of Redemption Restrictions Clause in Contracts

Redemption Restrictions. In the event that the Management Company determines that special circumstances have arisen, which include but are not limited to, (i) situations in which there is a default or delay of payments to a Sub-Fund by its underlying investments; or (ii) when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; or (iii) raising funds would be unduly burdensome to a Sub-Fund, the Management Company determines that special circumstances may resolve to delay payment of redemption proceeds in full or in part. Additionally, in the event redemption orders for a large number of units are received in respect of a Redemption Day, the Management Company may decide to postpone the execution of all redemption orders so received until equivalent Sub-Fund's assets have been sold, without undue delay. In the event that proper notices for redemptions in respect of a particular Redemption Day exceed a certain percentage of the latest available Net Asset Value (adjusted for any unaccounted but occurred subscriptions and/or redemptions) (the “Liquidity Gate Trigger”), as defined in Annex A for each Sub-Fund, the Management Company may decide to limit the proportion of Units available for redemption for that period to that number which represents, at the sole discretion of the Management Company, a reasonable estimate of the available liquidity in a Sub-Fund for that Redemption Day. The redemption proceeds will be distributed pro rata and pari passu to all affected Unitholders seeking redemption on that Redemption Day. Redemption of Units in excess of each affected redeeming Unitholder's pro rata portion shall be automatically carried forward to the next Redemption Day. Redemptions carried forward shall be treated equally with all other Unitholders seeking timely redemption of their Units on that same Redemption Day, without regard to whether or not redemption requests were given with respect to previous Redemption Days and subject always to the threshold for each Redemption Day as described above. The Management Company may in its sole discretion, suspend redemptions in any Sub-Fund a. in order to effect orderly liquidation of all or some of the investments; b. if the disposal of all or some of the investments is not reasonable or reasonably practicable; c. when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; d. a decision is made to liquidate and wind down the Sub-Fund; or

Redemption Restrictions. In the event that the Management Company determines that special circumstances have arisen, which include but are not limited to, (i) situations in which there is a default or delay of payments to a Sub-Fund by its underlying investments; or (ii) when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; or (iii) raising funds would be unduly burdensome to a Sub-Fund, the Management Company determines that special circumstances may resolve to delay payment of redemption proceeds in full or in part. Additionally, in the event redemption orders for a large number of units are received in respect of a Redemption Day, the Management Company may decide to postpone the execution of all redemption orders so received until equivalent Sub-Fund's assets have been sold, without undue delay. In the event that proper notices for redemptions in respect of a particular Redemption Day exceed a certain percentage of the latest available Net Asset Value (adjusted for any unaccounted but occurred subscriptions and/or redemptions) (the “Liquidity Gate Trigger”), as defined in Annex A for each Sub-Fund, the Management Company may decide to limit the proportion of Units available for redemption for that period to that number which represents, at the sole discretion of the Management Company, a reasonable estimate of the available liquidity in a Sub-Fund for that Redemption Day. The redemption proceeds will be distributed pro rata and pari passu to all affected Unitholders seeking redemption on that Redemption Day. Redemption of Units in excess of each affected redeeming Unitholder's pro rata portion shall be automatically carried forward to the next Redemption Day. Redemptions carried forward shall be treated equally with all other Unitholders seeking timely redemption of their Units on that same Redemption Day, without regard to whether or not redemption requests were given with respect to previous Redemption Days and subject always to the threshold for each Redemption Day as described above. The Management Company may in its sole discretion, suspend redemptions in any Sub-Fund: a. in order to effect orderly liquidation of all or some of the investments; b. if the disposal of all or some of the investments is not reasonable or reasonably practicable; c. when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; d. a decision is made to liquidate and wind down the Sub-Fund; or

Redemption Restrictions. In the event that the Management Company determines that special circumstances have arisen, which include but are not limited to, (i) situations in which there is a default or delay of payments to a Sub-Fund by its underlying investments; or (ii) when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; or (iii) raising funds would be unduly burdensome to a Sub-Fund, the Management Company determines that special circumstances may resolve to delay payment of redemption proceeds in full or in part. Additionally, in the event redemption orders for a large number of units are received in respect of a Redemption Day, the Management Company may decide to postpone the execution of all redemption orders so received until equivalent Sub-Fund's assets have been sold, without undue delay. In the event that proper notices for redemptions in respect of a particular Redemption Day exceed a certain percentage of the latest available Net Asset Value (adjusted for any unaccounted but occurred subscriptions and/or redemptions) (the “Liquidity Gate Trigger”), as defined in Annex A for each Sub-Sub- Fund, the Management Company may decide to limit the proportion of Units available for redemption for that period to that number which represents, at the sole discretion of the Management Company, a reasonable estimate of the available liquidity in a Sub-Fund for that Redemption Day. The redemption proceeds will be distributed pro rata and pari passu to all affected Unitholders seeking redemption on that Redemption Day. Redemption of Units in excess of each affected redeeming Unitholder's pro rata portion shall be automatically carried forward to the next Redemption Day. Redemptions carried forward shall be treated equally with all other Unitholders seeking timely redemption of their Units on that same Redemption Day, without regard to whether or not redemption requests were given with respect to previous Redemption Days and subject always to the threshold for each Redemption Day as described above. The Management Company may in its sole discretion, suspend redemptions in any Sub-Fund: a. in order to effect orderly liquidation of all or some of the investments; b. if the disposal of all or some of the investments is not reasonable or reasonably practicable; c. when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; d. a decision is made to liquidate and wind down the Sub-Fund; or

Redemption Restrictions. (a) In the case of a redemption pursuant to Section 7.1, if the funds of the Corporation legally available for the redemption of Preferred Stock on the redemption date are insufficient to redeem the total number of shares of Preferred Stock that the Corporation is required to redeem, those funds which are legally available shall be used to redeem the maximum possible number of shares of Preferred Stock pro rata among the holders of the shares to be redeemed on the basis of the number of shares held by each holder. As and when following the redemption date additional funds of the Corporation become legally available for the redemption of Preferred Stock, the Corporation shall immediately use such funds to redeem the balance of the shares of Preferred Stock which the Corporation became obligated to redeem on any prior redemption date but which it has not redeemed as may be redeemed at a redemption price equal to the aggregate Preference Amount of such shares of Preferred Stock on the actual date of redemption (and, if such funds are insufficient to effect a redemption of all such shares at such redemption price, such funds shall be used to redeem the maximum number of shares of Preferred Stock pro rata among the holders of the shares to be redeemed on the basis of the number of shares held by each holder, and any shares which cannot then be redeemed by reason of the insufficiency of such funds shall remain subject to the provisions of this sentence requiring later redemption). In the case of a redemption pursuant to Section 7.2, the Corporation may not redeem any shares of Preferred Stock unless the funds of the Corporation legally available for the redemption of Preferred Stock are sufficient to affect the redemption of all shares of Preferred Stock set for redemption. (b) In the event that the Management Company determines that special circumstances have arisenCorporation on the date set for any redemption under this Section 7 is prohibited under the terms of any agreement by which it is bound from redeeming the shares of Preferred Stock held by such holder, which include but the Corporation shall not be required to effect any such redemption until each such prohibition is no longer in effect. The Corporation shall not enter into any agreement while any shares of Preferred Stock are outstanding solely for the purpose of avoiding the redemption of shares of Preferred Stock under this Section 7. (c) In the event the Corporation does not limited toredeem any shares of Preferred Stock on the date specified therefor pursuant to Section 7.1 or 7.2 by reason of the existence of any circumstance set forth in paragraphs (a) or (b) of this Section 7.4, the Applicable Conversion Value of any shares of Preferred Stock not so redeemed shall be immediately adjusted to equal the product of (i) situations in which there is a default or delay of payments to a Sub-Fund ninety percent (90%) multiplied by its underlying investments; or (ii) when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; or (iii) raising funds would be unduly burdensome to a Sub-Fund, the Management Company determines that special circumstances may resolve to delay payment of redemption proceeds in full or in part. Additionally, in the event redemption orders for a large number of units are received in respect of a Redemption Day, the Management Company may decide to postpone the execution of all redemption orders so received until equivalent Sub-Fund's assets have been sold, without undue delay. In the event that proper notices for redemptions in respect of a particular Redemption Day exceed a certain percentage Market Price of the latest available Net Asset Value Common Stock on the date specified for such redemption (adjusted for any unaccounted but occurred subscriptions and/or redemptions) (or, if no such date was specified, on the “Liquidity Gate Trigger”), as defined in Annex A for each Sub-Fund, date of receipt of notice of such impediment by the Management Company may decide to limit the proportion of Units available for redemption for that period to that number which represents, at the sole discretion holders of the Management CompanyPreferred Stock); provided, a reasonable estimate however, that such adjustment shall not be the exclusive remedy of the available liquidity in a Sub-Fund for that Redemption Day. The redemption proceeds will be distributed pro rata and pari passu to all affected Unitholders seeking redemption on that Redemption Day. Redemption of Units in excess of each affected redeeming Unitholder's pro rata portion shall be automatically carried forward to the next Redemption Day. Redemptions carried forward shall be treated equally with all other Unitholders seeking timely redemption of their Units on that same Redemption Day, without regard to whether or not redemption requests were given with respect to previous Redemption Days and subject always to the threshold for each Redemption Day as described above. The Management Company may in its sole discretion, suspend redemptions in any Sub-Fund a. in order to effect orderly liquidation of all or some holders of the investments; b. if the disposal of all or some of the investments is not reasonable or reasonably practicable; c. when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; d. a decision is made to liquidate and wind down the Sub-Fund; orPreferred Stock.

Redemption Restrictions. In the event that the Management Company determines that special circumstances have arisen, which include but are not limited to, (i) situations in which there is a default or delay of payments to a Sub-Fund by its underlying investments; or (ii) when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; or (iii) raising funds would be unduly burdensome to a Sub-Fund, the Management Company determines that special circumstances may resolve to delay payment of redemption proceeds in full or in part. Additionally, in the event redemption orders for a large number of units are received in respect of a Redemption Day, the Management Company may decide to postpone the execution of all redemption orders so received until equivalent Sub-Fund's assets have been sold, without undue delay. In the event that proper notices for redemptions in respect of a particular Redemption Day exceed a certain percentage of the latest available Net Asset Value (adjusted for any unaccounted but occurred subscriptions and/or redemptions) (the “Liquidity Gate Trigger”), as defined in Annex A for each Sub-Sub- Fund, the Management Company may decide to limit the proportion of Units available for redemption for that period to that number which represents, at the sole discretion of the Management Company, a reasonable estimate of the available liquidity in a Sub-Fund for that Redemption Day. The redemption proceeds will be distributed pro rata and pari passu to all affected Unitholders seeking redemption on that Redemption Day. Redemption of Units in excess of each affected redeeming Unitholder's pro rata portion shall be automatically carried forward to the next Redemption Day. Redemptions carried forward shall be treated equally with all other Unitholders seeking timely redemption of their Units on that same Redemption Day, without regard to whether or not redemption requests were given with respect to previous Redemption Days and subject always to the threshold for each Redemption Day as described above. The Management Company may in its sole discretion, suspend redemptions in any Sub-Fund a. in order to effect orderly liquidation of all or some of the investments; b. if the disposal of all or some of the investments is not reasonable or reasonably practicable; c. when remittance or transfer of monies upon the redemption of Units is not reasonably practicable; d. a decision is made to liquidate and wind down the Sub-Fund; or