Retail Funds. (a) To the extent a Fund intends to operate as a Retail Fund, you agree that, with respect to any Shares of the Retail Fund purchased, or held by or on behalf of your customers, you will (i) adopt and implement policies, procedures and internal controls reasonably designed to limit all beneficial owners of such Retail Fund Shares to natural persons (as such term is used or interpreted by the SEC or its staff), (ii) take commercially reasonable efforts to ensure that all current and future beneficial owners of such Retail Fund Shares are natural persons, and (iii) promptly redeem any such Retail Fund Shares of customers who do not qualify as natural persons.
Appears in 4 contracts
Samples: Selected Dealer Agreement (UBS Series Funds), Dealer Agreement (UBS Series Funds), Selected Dealer Agreement (UBS Series Funds)
