Mandatory Redemptions Sample Clauses

Mandatory Redemptions. 45 Section 6.3 Redemptions on Early Termination Date and Final Scheduled Termination Date.....................45 Section 6.4 Settlement of the Settlement Contracts.........................................................45 Section 6.5 Settlement.....................................................................................45

Mandatory Redemptions. (a) The Sponsor may mandatorily redeem part or all of the Units held by a particular Investor if the Sponsor determines that: (i) such Investor’s continued holding of Units could result in adverse consequences to this FuturesAccess Fund; (ii) such Investor has a history of excessive exchanges between different Aspect FuturesAccess LLC

Mandatory Redemptions. The Board may cause the Fund to redeem Units of a Member or any person acquiring Units thereof from or through a Member in the event that the Board determines or has reason to believe that, among other things: (i) such Units have been transferred or such Units have vested in any person by operation of law as a result of the death, dissolution, bankruptcy, or incompetence of a Member; (ii) ownership of such Units by a Member or other person will cause the Fund to be in violation of, or require registration of any Units, or subject the Fund to additional registration or regulation under, the securities, commodities, or other laws of the United States or any other relevant jurisdiction; (iii) continued ownership of such Units may be harmful or injurious to the business or reputation of the Fund, or may subject the Fund or any of its Members to an undue risk of adverse tax or other fiscal consequences; (iv) any representation or warranty made by a Member in connection with the acquisition of Units was not true when made or has ceased to be true; or (v) it would be in the best interests of the Fund, as determined by the Board in its sole and absolute discretion, for the Fund to redeem such Units.

Mandatory Redemptions. On the Maturity Date, the Partnership shall redeem the Series I Preferred Units at a redemption price equal to the $1,000 liquidation value of such Units, plus all accumulated and unpaid distributions.

Mandatory Redemptions. IBG Holdings (with the prior approval of the IBGI Board) shall be entitled to cause one or more redemptions (each such redemption, a “Mandatory Redemption”) with respect to all or some IBG Holdings Shares, in IBG Holdings’ discretion, at any time following the first anniversary of the IPO Date. A Mandatory Redemption shall occur with respect to IBG Holdings Shares without any action required on the part of the IBG Holdings Member holding such IBG Holdings Shares.

Mandatory Redemptions. The Board may cause the Company to redeem the Interest of a Member or of any person acquiring such an Interest from or through a Member in the event that the Board determines or has reason to believe that, among other things: 1. such Interest has been transferred or such Interest has vested in any person by operation of law as a result of the death, dissolution, bankruptcy, or incompetency of a Member; 2. ownership of such Interest by a Member or other person will cause the Company to be in violation of, or require registration of any Interests, or subject the Company or the Investment Manager to additional registration or regulation under, the securities, commodities, or other laws of the United States or any other relevant jurisdiction; 3. continued ownership of such Interest may be harmful or injurious to the business or reputation of the Company or the Investment Manager, or may subject the Company or any of its Members to an undue risk of adverse tax or other fiscal consequences; 4. for any period during which an emergency exists as a result of which it is not reasonably practicable for the Company to dispose of securities it owns or to determine the value of the Company’s net assets; 5. any representation or warranty made by a Member in connection with the acquisition of such Interest was not true when made or has ceased to be true; or 6. it would be in the best interests of the Company, as determined by the Board in its sole and absolute discretion, for the Company to redeem such Interest.

Mandatory Redemptions. (a) On March 1, 2026, the Company will be required to redeem a principal amount of Notes equal to: (i) $125,000,000, minus (ii) the principal amount of Notes that have been otherwise redeemed (or for which an irrevocable notice of redemption has been delivered) on or prior to such date (other than, for the avoidance of doubt, any Quarterly Amortizations), at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the applicable Redemption Date (the “Mandatory Amortization”). (b) On each Interest Payment Date occurring on or after March 31, 2025 but prior to the Stated Maturity of the Notes, the Company will be required to redeem a principal amount of Notes equal to (i) $6,500,000 minus (ii) the principal amount of Notes that have been otherwise redeemed (or for which an irrevocable notice of redemption has been delivered) on or prior to such date (other than the Mandatory Amortization or any other non-voluntary redemption required by this Indenture, including any Event of Loss Redemption, First Lien Collateral Asset Sale Redemption, Second Lien Collateral Asset Sale Redemption or Non-Collateral Asset Sale Redemption), at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest to, but not including, the Redemption Date (each such redemption, “Quarterly Amortization”). (c) Without duplication of the deductions described in Sections 11.03(a) and (b), the obligation of the Company to pay the Mandatory Amortization and/or the Quarterly Amortizations shall be reduced by the certain redemptions or other prepayments or repayments, as specified, and in the order of priority set forth in Section 11.01(b). (d) The Company shall only be required to make a mandatory redemption with respect to the Notes as provided in Sections 10.11, 11.03 and 11.09, and the Notes will not otherwise be subject to mandatory redemption or any sinking fund payments. (e) Any calculation of the principal amount of Notes to be redeemed in respect of a Mandatory Amortization or Quarterly Amortization shall be made by the Company and delivered to the Trustee pursuant to an Officer's Certification.

Mandatory Redemptions. (a) The Manager may mandatorily redeem part or all of the Units held by a particular Investor if the Manager determines that (i) such Investor's continued holding of Units could result in adverse consequences to this Fund, (ii) such Investor has a history of excessive exchanges between different FuturesAccess Funds and/or HedgeAccess Funds that is contrary to the purpose and/or efficient management of the Programs, (iii) such Investor's investment in the Units, or aggregate investment in the FuturesAccess Program, is below the minimum level established by the Manager (including any increase in such minimum level that the Manager may implement in the future), or (iv) for any other reason. (b) The Manager will mandatorily redeem all of a FuturesAccess Fund's outstanding Units in the event that the Manager concludes that it is no longer advisable to place client capital with the Trading Advisor or if the amount of assets invested in this Fund declines to a level that the Manager believes makes the continued operation of this Fund impracticable or uneconomical. (c) Units mandatorily redeemed shall be redeemed as of the specified month-end without any further action ML Aspect FuturesAccess LLC Limited Liability Company Operating Agreement on the part of the affected Investor, and the provisions of Sections 3.02 and 3.07 shall apply. In the event that the Manager mandatorily redeems any of an Investor's Units, such Investor shall have the option to redeem all of such Investor's Units as of the date fixed for redemption. Payment of mandatory redemption proceeds shall be made.

Mandatory Redemptions. If a Holder so elects, the Issuer shall redeem the Notes held by such Electing Holder, in full, at a redemption price equal to 100% of the aggregate principal amount of the Notes to be redeemed upon the occurrence of an IPO (as defined in the Note Subscription Agreement).