Auction Program Fee definition
Auction Program Fee means the fee paid by a Winning Fund to ReFlow as a result of the Auction.
Examples of Auction Program Fee in a sentence
If ReFlow makes a redemption other than a Compulsory Redemption (such a redemption a “ReFlow Redemption”) prior to 6 calendar days from the later of (i) the commencement of the Fund’s participation in the ReFlow Auction Program or (ii) the date of the previous ReFlow Redemption, ReFlow will refund to the Fund the Auction Program Fee with respect to the Shares so redeemed.
If a Fund is a Winning Fund in an Auction, the Fund shall pay to ReFlow the Auction Program Fee, which shall equal the Fund’s Fee Bid multiplied by the aggregate dollar amount of Shares purchased in the Auction.