Dormant Funds Sample Clauses
The Dormant Funds clause defines how funds that remain unclaimed or inactive for a specified period are handled by the parties involved. Typically, this clause outlines the process for identifying dormant accounts, notifying the account holder, and the steps taken if the funds are not claimed, such as transferring them to a designated account or escheating them to the state. Its core practical function is to ensure proper management and legal compliance regarding unclaimed funds, thereby reducing administrative burdens and mitigating the risk of disputes over ownership.
Dormant Funds. AQR International Small Cap Fund N 1.60% March 31, 2010 – May 1, 2011 I 1.25% March 31, 2010 – April 30, 2010
Dormant Funds. Funds established to be Dormant until a designated event occurs (such as large- scale disasters) have a Start-Up Fee (as described in Section I(a) above) and an annual maintenance fee of $3,500 USD due on the date the Fund becomes Dormant and on each following anniversary date.