Transfers and Redemptions Clause Samples
Transfers and Redemptions. Except as expressly provided in the applicable Class A Unit Agreement, a holder of Class A Units shall not be entitled to transfer his or her Class A Units. Notwithstanding the foregoing sentence, a holder of Class A Units shall not be entitled to transfer (directly or indirectly), and shall not transfer (directly or indirectly), its Class A Units if doing so would constitute a “measurement event” under Regulations Sections 1.761-3(c)(1)(iii)(A) and 1.761-3(c)(2)(i). The Redemption Right provided to Qualifying Parties under Section 15.1 shall not apply with respect to Class A Units unless and until such Class A Units have been exercised for Common Units in accordance with the terms of the applicable Class A Unit Agreement.
Transfers and Redemptions. GIAC shall receive for acceptance orders from the Separate Accounts for the exchange or redemption of Fund shares each business day and forward such orders to the Funds’ transfer agent.
Transfers and Redemptions. (a) Funding shall have sold to IFA-LP 22.42758% of the Partnership Interests in Drive (together with the same percentage of the capital accounts of Drive) for $15,982,760.54 so that, immediately after giving effect thereto, IFA-LP shall own 67.8577436% of the Partnership Interests (and the same percentage of the capital accounts of Drive) and Funding shall own 13.4993325%;
(b) Funding shall have amended its partnership agreement to create Class A and Class B partnership interests, and all of the Class B Interests shall have been issued to CLCLLC;
(c) Funding shall have redeemed the aforesaid Class B Interests from CLCLLC for $15,982,760.54;
(d) Drive Holdings shall have distributed the Minority Funding Interests (i.e., those in Funding and those in Auto-GP) to Drive;
(e) Drive shall have distributed the Minority Funding Interests to MG-LP; and
(f) The Partnership Agreement shall have been amended to restate the Partnership Interests of the partners of Drive so that, after giving effect thereto, the Partnership Interests of Drive are owned of record as follows: IFA-LP 68.9298922%, Funding 13.7360292%, MG-LP 17.232473% and Drive-GP 0.1016055%.
Transfers and Redemptions. The Agent shall receive for acceptance orders from unitholders of Agent's Separate Accounts for the exchange or redemption of Fund shares each business day and forward such orders to PMFS in accordance with the Operating Procedures set forth in Exhibit B.
3. Blue Sky Reports: If in the reasonable judgment of the Funds such information is required by applicable state securities laws or the interpretation thereof by applicable regulatory authorities, the Agent shall periodically prepare a report to the Funds and PMFS, in accordance with a system approved by the Funds and PMFS, showing by state of Customer shareholder residence, all sales and redemptions of Fund shares.
Transfers and Redemptions