AIFMD Sample Clauses

AIFMD. Neither the Company nor any of its subsidiaries is an alternative investment fund nor an alternative investment fund manager as each term is understood for purposes of the European Union’s Alternative Investment Fund Managers Directive (No. 2011/61/EU) (the “AIFMD”) and any subordinate legislation enacted thereunder, as each has been amended, extended or re-enacted from time to time, including the applicable implementing legislation and regulations of each member state of the European Economic Area.

AIFMD. The Adviser represents and warrants to the Sub-Adviser that the Fund is not an alternative investment fund (“AIF”) for the purposes of the Directive 2011/61/EU on Alternative Investment Fund Managers as implemented in any relevant member state of the European Economic Area (“AIFMD”). The Adviser agrees and acknowledges that it shall do all acts, things and deeds as may from time to time be necessary or desirable in the reasonable opinion of the Sub-Adviser to procure that the Fund is not an AIF for the purposes of the AIFMD and, in the event that the Fund becomes an AIF for the purposes of the AIFMD, that the Fund will immediately appoint an appropriately qualified and authorised person (which for the avoidance of doubt is not and shall not be the Sub-Adviser) to be the AIFM of the Fund, which person shall be solely responsible for, and shall discharge and perform, or shall procure the discharge and performance of, all obligations and duties imposed on an AIFM pursuant to the AIFMD.

AIFMD. See also, ▇ ▇ ▇▇▇▇▇▇▇▇, “Introduction: Overview, Regulatory History and Technique, Transition”, in ▇ ▇ ▇▇▇▇▇▇▇▇ (ed), The Alternative Investment Fund Managers Directive: European Regulation of Alternative Investment Funds (2012) 1 at 6. 327 UCITS will be discussed in greater detail below. See also, Recital 3 AIFMD. See also, OJ l 302, 17.11.2209, page 32. 328 European Securities and Markets Authority (n 277) 1 at 40. 329 Articles 32 (1) and 39 (1) and (2) AIFMD. 330 Recital 1 AIFMD. by which the assets are held) and an Alternative Investment Fund Manager (that manages the fund’s assets and dictates the investment strategy). This distinction is important because the Alternative Investment Fund is generally based ‘offshore’ in a tax efficient jurisdiction and therefore beyond the reach of the national regulator, whereas Alternative Investment Fund Managers are typically based ‘onshore’ and are increasingly subject to regulatory oversight. For this reason, the AIFMD “does not regulate” Alternative Investment Funds.331

AIFMD. The Borrower is not (i) an AIFM or (ii) an AIF managed by an AIFM (as such term is defined in the AIFMD) required to be authorized or registered in accordance with AIFMD. A. COVENANTS From the date hereof until the first day following the Facility Termination Date on which all Obligations shall have been finally and fully paid and performed (other than as expressly survive the termination of this Agreement), the Borrower hereby covenants and agrees with the Lenders, the Agents and the Facility Agent that:

AIFMD. Such Loan Party is not (i) an AIFM or (ii) an AIF managed by an AIFM (as such term is defined in the AIFMD) required to be authorized or registered in accordance with AIFMD.

AIFMD. This means that the National Competent Authorities of the Member State may impose additional limits on the level of leverage that Alternative Investment Fund Managers employ.352

AIFMD some observations “Arguments in favour of increased hedge fund regulation in order to lower systemic risk are flat wrong. Such arguments fail to consider that hedge funds pose no systemic threat because of the incredible diversity in their investment strategies, an assertion bolstered by evidence from decades of experience with hedge funds”.357

AIFMD. A professional investor is a client who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs. To be regarded as "professional" a client must fulfil the following criteria:

AIFMD. The Depositary shall delegate the safekeeping of Custody Assets to the Custodian in accordance with the Custody Agreement and for that purpose the Depositary shall ensure: