Common use of Repurchase Offers Clause in Contracts

Repurchase Offers. Dealer understands and acknowledges that Interval Funds will adopt policies to make periodic offers to purchase between 5% and 25% of Shares (“Repurchase Offers”) in accordance with Rule 23c-3 under the Investment Company Act of 1940, as amended (“1940 Act”), and as described in the Prospectus. Repurchases of Shares will be made at the net asset value of such Shares in accordance with the applicable Repurchase Offer and Prospectus, less any applicable early withdrawal charge and expenses for which the Fund has determined to charge Interval Fund shareholders as permitted by Rule 23c-3 under the 1940 Act. Dealer agrees to transmit to its customers any Repurchase Offer notification received from Distributor within the time period specified in the applicable Prospectus and in such notification, and to use its reasonable best efforts to transmit repurchase requests from its customers to an Interval Fund or its transfer agent or other designee by the applicable repurchase request deadline as specified in the applicable Prospectus and/or such notification. Dealer expressly acknowledges and agrees that Shares will not be repurchased by either the respective Interval Fund (other than through Repurchase Offers, or other tender offers from time to time, if any) or Distributor, and that no secondary market for the Shares exists currently or is expected to develop, and that Shares have very limited liquidity and are appropriate only as a long-term investment. Any representation as to a Repurchase Offer or other tender offer by an Interval Fund, other than that which is set forth in the Prospectus or a Repurchase Offer notice issued by such Interval Fund, is expressly prohibited.

Repurchase Offers. Dealer understands and acknowledges You acknowledge that Interval Funds will adopt policies each Fund has adopted a fundamental policy (which may not be changed without approval of the Fund’s shareholders) to make periodic offers to purchase between 5% and 25% of its Shares (“Repurchase Offers”) in accordance with Rule 23c-3 under the Investment Company 1940 Act of 1940, as amended (“1940 Act”), and as described in the then current Prospectus. Repurchases Repurchase of Shares of a Fund will be made at the net asset value of such Shares in accordance with the applicable Repurchase Offer and then current Prospectus, less any applicable early withdrawal charge charges and expenses for which the Fund has determined to charge Interval Fund shareholders as permitted by Rule 23c-3 under the 1940 Act23c-3. Dealer agrees No “as of” trades will be accepted for repurchases. You agree to transmit to its your customers any Repurchase Offer notification received from Distributor within the time period specified in the applicable Prospectus and in such notification, and to use its your reasonable best efforts to transmit repurchase requests from its your customers to an Interval the applicable Fund or its transfer agent or other designee by the applicable repurchase request deadline as specified in the applicable Prospectus and/or and such notification. Dealer You expressly acknowledges acknowledge and agrees agree that Shares of a Fund will not be repurchased by either the respective Interval Fund (other than through Repurchase Offers, or other tender offers from time to time, if any) or Distributor, and that no secondary market for the Shares of any Fund exists currently or is expected to develop, and therefore that the Shares have very limited liquidity liquidity. You also expressly acknowledge and are appropriate only as agree that, in the event one or more of your customers cancel their order for Shares of a long-term investmentFund after confirmation, such Shares may not be repurchased, remarketed or otherwise disposed of by or through Distributor. Any representation as to a Repurchase Offer or other tender offer by an Interval any Fund, other than that which is set forth in the Fund’s then current Prospectus or a Repurchase Offer notice issued by such Interval the Fund, is expressly prohibited.

Repurchase Offers. Dealer understands and acknowledges that Interval Funds will adopt policies to make periodic offers to purchase between 5% and 25% of Shares (“Repurchase Offers”) in accordance with Rule 23c-3 under the Investment Company 1940 Act of 1940, as amended (“1940 ActRule 23c-3”), and as described in the Prospectus. Repurchases of Shares will be made at the net asset value of such Shares in accordance with the applicable Repurchase Offer and Prospectus, less any applicable early withdrawal charge and expenses for which the Fund has determined to charge Interval Fund shareholders as permitted by Rule 23c-3 under the 1940 Act23c-3. Dealer agrees to transmit to its customers any Repurchase Offer notification received from Distributor within the time period specified in the applicable Prospectus and in such notification, and to use its reasonable best efforts to transmit repurchase requests from its customers to an Interval Fund or its transfer agent or other designee by the applicable repurchase request deadline as specified in the applicable Prospectus and/or such notification. Dealer expressly acknowledges and agrees that Shares will not be repurchased by either the respective Interval Fund (other than through Repurchase Offers, or other tender offers from time to time, if any) or Distributor, and that no secondary market for the Shares exists currently or is expected to develop, and that Shares have very limited liquidity and are appropriate only as a long-term investment. Any representation as to a Repurchase Offer or other tender offer by an Interval Fund, other than that which is set forth in the Prospectus or a Repurchase Offer notice issued by such Interval Fund, is expressly prohibited.

Repurchase Offers. Dealer understands and acknowledges You acknowledge that Interval Funds will adopt policies the Fund has adopted a fundamental policy (which may not be changed without approval of the Fund’s shareholders) to make periodic offers to purchase between 5% and 25% of Shares its shares (“Repurchase Offers”) in accordance with Rule 23c-3 under the Investment Company 1940 Act of 1940, as amended (“1940 Act”), and as described in the then current Prospectus. Repurchases Repurchase of Shares shares of the Fund will be made at the net asset value of such Shares in accordance with the applicable Repurchase Offer and then current Prospectus, less any applicable early withdrawal charge charges and expenses for which the Fund has determined to charge Interval Fund shareholders as permitted by Rule 23c-3 under the 1940 Act23c-3. No “as of” trades will be accepted for repurchases. Dealer agrees to transmit to its customers any Repurchase Offer notification received from Distributor within the time period specified in the applicable Prospectus and in such notification, and to use its reasonable best efforts to transmit repurchase requests from its customers to an Interval the Fund or its transfer agent or other designee by the applicable repurchase request deadline as specified in the applicable Prospectus and/or and such notification. Dealer expressly acknowledges and agrees that Shares shares of the Fund will not be repurchased by either the respective Interval Fund (other than through Repurchase Offers, or other tender offers from time to time, if any) or Distributor, and that no secondary market for the Shares shares of the Fund exists currently or is expected to develop, and therefore that Shares the shares have very limited liquidity liquidity. Dealer also expressly acknowledges and are appropriate only as a long-term investmentagrees that, in the event one or more of its customers cancel their order for shares of the Fund after confirmation, such shares may not be repurchased, remarketed or otherwise disposed of by or through Distributor. Any representation as to a Repurchase Offer or other tender offer by an Interval the Fund, other than that which is set forth in the Fund’s then current Prospectus or a Repurchase Offer notice issued by such Interval the Fund, is expressly prohibited.

Repurchase Offers. Dealer understands and acknowledges You acknowledge that Interval Funds will adopt policies the Fund has adopted a fundamental policy (which may not be changed without approval of the Fund’s shareholders) to make periodic offers to purchase between 5% and 25% of Shares its shares (“Repurchase Offers”) in accordance with Rule 23c-3 under the Investment Company 1940 Act of 1940, as amended (“1940 Act”), and as described in the then current Prospectus. Repurchases Repurchase of Shares shares of the Fund will be made at the net asset value of such Shares in accordance with the applicable Repurchase Offer and then current Prospectus, less any applicable early withdrawal charge charges and expenses for which the Fund has determined to charge Interval Fund shareholders as permitted by Rule 23c-3 under the 1940 Act23c-3. Dealer agrees No “as of” trades will be accepted for repurchases. You agree to transmit to its your customers any Repurchase Offer notification received from Distributor within the time period specified in the applicable Prospectus and in such notification, and to use its your reasonable best efforts to transmit repurchase requests from its your customers to an Interval the Fund or its transfer agent or other designee by the applicable repurchase request deadline as specified in the applicable Prospectus and/or and such notification. Dealer You expressly acknowledges acknowledge and agrees agree that Shares shares of the Fund will not be repurchased by either the respective Interval Fund (other than through Repurchase Offers, or other tender offers from time to time, if any) or Distributor, and that no secondary market for the Shares shares of the Fund exists currently or is expected to develop, and therefore that Shares the shares have very limited liquidity liquidity. You also expressly acknowledge and are appropriate only as a long-term investmentagree that, in the event one or more of your customers cancel their order for shares of the Fund after confirmation, such shares may not be repurchased, remarketed or otherwise disposed of by or through Distributor. Any representation as to a Repurchase Offer or other tender offer by an Interval the Fund, other than that which is set forth in the Fund’s then current Prospectus or a Repurchase Offer notice issued by such Interval the Fund, is expressly prohibited.