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BDE-7.1.4

The fund administrator must notify the CBB, in writing, if:

(i) The NAV per unit falls below 60% of the initial value per unit, at any valuation date.
(ii) The total NAV falls below 60% of the total NAV reported in the last audited financials of the CIU; or
(iii) The total NAV falls below 50% of the total NAV of the CIU relative to the previous valuation day.
April 2012