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16.8. Settlement

Redemption shall be affected in cash if available. If and to the extent that the Manager determines that there are insufficient funds in the particular Investment Compartment for the purposes of effecting a cash redemption they shall be entitled to effect a redemption either in specie or at their discretion in a mixture of in specie and in cash.

Where redemption is to be effected either wholly or partly in specie it shall be effected by the appropriation of assets of the Investment Compartment of the relevant value (which shall be conclusively determined by the Manager in good faith) in satisfaction of the Redemption Price. The transfer of assets pursuant to the redemption will normally be effected within 180 Business Days (or within such other time period as may be specified in the relevant Supplement) of the Redemption Date provided that the Investor enters into such additional documentation to the same extent as the Investment Compartment and/or the vehicle through which the Investment Compartment makes its investment as the case may be.