Examples of Annual Retraction Date in a sentence
The Preferred shares and Class A shares must both be surrendered for retraction at least 10 business days prior to the Annual Retraction Date.
Where there is no UIC, this obligation should fall to the ADSE and/or licenced operator.
The Preferred Shares and Class A Shares must both be surrendered for retraction at least 10 business days prior to the Annual Retraction Date.
A holder of Class A Shares may concurrently retract an equal number of Class A Shares and Preferred Shares on the Annual Retraction Date of each year at a retraction price per Unit equal to the NAV per Unit on that date, less any costs associated with the retraction, including commissions and other such costs, if any, related to the liquidation of any portion of the Portfolio required to fund such retraction.
For the annual retractions of Class A shares and Preferred shares, the Fund receives notice at least 10 business days prior to the Annual Retraction Date and has up to 10 business days after the Annual Retraction Date to settle the retractions, which gives the Manager time to sell securities, although there may not be sufficient time to sell the securities at a reasonable price.