Solidarity Fund QFL - REDEMPTION CONDITIONS

REDEMPTION CONDITIONS

Recourse of a Creditor
against an essential good or service that will result in the interruption of a service or the seizure of the principal residence, automobile, utility or salary

AIn order for the Fund to redeem your shares under the "Recourse of a creditor against an essential good or service that will result in the interruption of a service or the seizure of the principal residence, automobile, utility or salary" criterion, you must fulfill the following requirements and provide the required proof.

Requirements

You must:

show that the recourse jeopardizes the principal residence, only automobile, salary or a utility;

AND

show that reasonable means were taken to prevent the situation;

AND

show that you are financially unable to resolve the situation;

AND

show that the redemption of the shares will put an end to the creditor’s recourse;

AND

have liquidated or used all your redeemable investments (including RRSPs), share redemption being the last resort.

Proof required

the Fund’s "Balance Sheet - Family Budget" form duly completed and signed;

AND

proof that all redeemable investments have been liquidated or cannot be redeemed;

AND

proof of the recourse against an essential good or service such as:

for the place of residence:

a final notice from the mortgage creditor or notice of intent to exercise a mortgage right or a threat of eviction notice signed by the landlord. This notice must be dated, mention the amount due and number of months in arrears;

for the automobile:

a notice of loss of benefit of a term or a repossession notice;
proof that the family owns one vehicle;

for a utility:

a notice of service interruption (electricity, residential telephone or heating);

for salary:

a formal demand for payment from a government or a judgment against a shareholder for payment.

AND IN ALL CASES:
following acceptance of the request (if applicable):

proof that the difference can be made up if the redemption is insufficient to avoid execution of the recourse.

Eligible shares

All the shares.

Payment terms and conditions

One net payment equal to the amount required to avoid execution of the recourse.

If less than 20 shares remain in your account, they will be automatically redeemed.

Subsequent acquisition of shares

You may purchase additional Fund shares one year after the last payment is issued under this criterion.

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