Common use of Return of Payment Clause in Contracts

Return of Payment. In the event that the Investment Company is unable to locate a Designated Shareholder within 60 days of the initial disbursement of the Designated Shareholder Amounts, such Designated Shareholder’s Designated Shareholder Payment shall be returned to the Treasury except as prohibited by law.

Appears in 2 contracts

Sources: Guarantee Agreement (Russell Investment Co), Guarantee Agreement

Return of Payment. In the event that the Investment Company Fund is unable to locate a Designated Shareholder within 60 days of the initial disbursement of the Designated Shareholder Amounts, such Designated Shareholder’s Designated Shareholder Payment shall be returned to the Treasury except as prohibited by law.

Appears in 1 contract

Sources: Guarantee Agreement