Special Distribution on Redemptions. When a Unitholder redeems all or any of his Units of a Fund, there shall be a distribution in cash out of the total amount payable under Section 6.1 of any Special Distribution accrued to such Unitholder to the time immediately prior to redemption as determined by the Manager in its absolute discretion or allocated to such Unitholder pursuant to Section 7.4. The balance of the amount payable to such Unitholder at the time of redemption shall be paid as proceeds of redemption.
Appears in 2 contracts
Sources: Master Trust Agreement, Master Trust Agreement