Examples of Annual Redemption Date in a sentence
Units properly surrendered for redemption will be redeemed on the second last business day in October of each year (the Annual Redemption Date) and the redeeming unitholder will receive a redemption price per unit equal to 100% of the NAV per unit as determined on the Annual Redemption Date, less any costs and expenses incurred by the Fund in order to fund such redemption.
Units tendered for redemption are redeemed effective the Annual Redemption Date of each period and are settled on or before the tenth business day in October, subject to the Manager’s right to suspend redemptions in certain circumstances.
Units must be surrendered for redemption on or before the last business day of the month of May preceding the applicable Annual Redemption Date (the “Annual Cut-Off Date”).
Units so redeemed will be redeemed at a redemption price equal to the Net Asset Value per Unit on the Annual Redemption Date, less any costs and expenses associated with the redemption, including commissions incurred by the Fund to fund such redemptions.
For the purpose of calculating the NAV used in connection with the redemption of units, the value of the securities held by the Fund will be equal to the weighted average trading price of such securities over the last three business days preceding the Annual Redemption Date.