Common use of Right to Redeem Clause in Contracts

Right to Redeem. A Unitholder shall be entitled, subject as hereinafter provided, to require payment of the Series Net Asset Value per Unit of all or any of his Units of a Fund by giving written notice to the Manager, in such form as the Manager, from time-to-time, may prescribe, which notice shall contain a clear request by the Unitholder or its agent that a specified number and series, if applicable, of Units of that Fund be redeemed or the dollar amount which the Unitholder requires to be paid, and shall, subject to any rights of withdrawal provided for in this Section 5, be irrevocable. The requirement for a written request for redemption may be waived by the Manager in which event a verbal request for redemption to the Manager shall be sufficient for the purposes of this Article. A redemption request, properly completed, must reach the Manager at its offices not later than 1:00 p.m. Vancouver time on the Valuation Day in order to receive that day’s Series Net Asset Value. All Units which a Fund is required to redeem shall be deemed to be outstanding until payment therefor is made in accordance with this Article 5. The Manager, acting in its sole discretion, may effect the compulsory redemption of all or some of the Units registered in the name of a Unitholder.

Right to Redeem. A Unitholder shall be entitled, subject as hereinafter provided, to require payment of the Series Net Asset Value per Unit of all or any of his Units of a Fund by giving written notice to the Manager, in such form as the Manager, from time-to-time, may prescribe, which notice shall contain a clear request by the Unitholder or its agent that a specified number and series, if applicable, of Units of that Fund be redeemed or the dollar amount which the Unitholder requires to be paid, and shall, subject to any rights of withdrawal provided for in this Section 5, be irrevocable. The requirement for a written request for redemption may be waived by the Manager in which event a verbal request for redemption to the Manager shall be sufficient for the purposes of this Article. A redemption request, properly completed, must reach the Manager at its offices not later than 1:00 p.m. Vancouver time on the Valuation Day in order to receive that day’s Series Net Asset Value. All Units which a Fund is required to redeem shall be deemed to be outstanding until payment therefor is made in accordance with this Article 5. The Manager, acting in its sole discretion, may effect the compulsory redemption of all or some of the Units registered in the name of a Unitholder.