Common use of Payment of Redemption and Distribution Proceeds Clause in Contracts

Payment of Redemption and Distribution Proceeds. (a) Payments of Redemption or Distribution proceeds shall be made as the related monies are received from the applicable Intermediate Fund (if applicable) or Trading Fund. For the avoidance of doubt, the Sponsor may retain the Reserve Assets attributable to a Redemption or Distribution until proceeds are received from the Intermediate Fund (if applicable) or Trading Fund. (b) The Sponsor may deduct from any Redemption or Distribution proceeds otherwise payable to any Member any amount believed or estimated by the Sponsor to be owed by such Member to the Platform or by the Platform on behalf of such Member. (c) In the case of any given Redemption or Distribution, payment may be delayed, in the event that it is not possible for the offered Series to withdraw, directly or indirectly, from the related Trading Fund effective as of the scheduled Effective Date.