Common use of Unitholders and Number of Units Clause in Contracts

Unitholders and Number of Units. Before the Distribution Date for a distribution under Section 16.8 or Section 16.9, the Manager may fix a date and method for determining the Unitholders to whom the distribution will be made and the number of Units of each series of the Fund held by each Unitholder. If the Manager does not fix a date and method, the distribution shall be made to those who are Unitholders of the Fund at the end of the Distribution Date, and shall be based on the number of Units of each series of the Fund held by each Unitholder at that time (other than Units acquired as a result of the reinvestment of a distribution on the Distribution Date). For this purpose, all purchases and redemptions of Units for which the Series Net Asset Value Per Unit on the Distribution Date or a previous day applies shall be considered to have been completed before the end of the Distribution Date. For the purposes of Section 16.8 as it applies with respect to a Money Market Fund, the Manager may use any reasonable method for determining the Unitholders of the Fund and the number of Units of each series of the Fund held on a particular day. If the Manager does not adopt another method, the determination shall be made on the basis that (i) all purchases and redemptions of Units which are processed with effect on a particular day (other than the purchase of Units as a result of the reinvestment of a distribution) are treated as being effective at the beginning of the Business Day next following the particular day, and (ii) Units acquired as a result of the reinvestment of a distribution are acquired at the beginning of the day following the relevant Distribution Date.