Tax Consequences of Payments. The redemption of Series Z securities of the Funds to pay the Management Fee hereunder is a taxable disposition which may give rise to tax consequences for the Client, including capital gains or capital losses under the Income Tax Act (Canada). It is the Client’s responsibility to seek advice from a tax professional regarding the tax consequences of purchasing and holding Series Z securities, including with respect to the deductibility for tax purposes of the Management Fee. The Manager expressly disclaims the provision of any tax advice in that regard.
Appears in 5 contracts
Samples: Client Agreement, Series Z Client Agreement, Client Agreement
