Common use of Distributed Clause in Contracts

Distributed. The profits (after deduction/accrual of the costs) of the AIF or unit class with appropriation of earnings of the "Distributed" type as per Appendix A "An Overview of the Fund" may be distributed periodically under a resolution of the AIFM (e.g. with each NAV). Distributions are paid out on the shares issued as at the distribution date. No interest is paid on declared distributions from the time of their maturity onwards.