Fund Assets Clause Samples
The 'Fund Assets' clause defines what constitutes the assets held by a fund, typically specifying the types of property, securities, cash, or other investments that are included within the fund's portfolio. This clause may detail how assets are acquired, managed, or valued, and can clarify whether certain items like derivatives, receivables, or uninvested cash are considered part of the fund's assets. Its core practical function is to establish clear boundaries for what is included in the fund for purposes such as valuation, reporting, and determining investor entitlements, thereby ensuring transparency and reducing the risk of disputes over asset classification.
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Fund Assets. The trust fund assets consist of all money and property received as contributions, together with any income on or increment in such assets. The Trustee shall hold the fund assets without distinction between principal and income.
Fund Assets. The Fund's Assets will, at the initial Closing, consist solely of cash.
Fund Assets. The assets of the Fund will be deposited in such financial institutions as the General Partner determines, and withdrawals will be made only in the regular course of Fund business on such signature or signatures as the General Partner determines, and subject to such procedures to which the General Partner may agree on behalf of the Fund with the custodian(s) of the Fund’s assets. No funds of the General Partner will in any way be commingled with such Fund assets.
Fund Assets. All Liechtenstein-based UCITS having the legal form of a (contractual) investment fund or a collective trusteeship are subject to income tax in Liechtenstein. The income from the assets of the Sub-Funds is exempt from taxation.
Fund Assets. It is understood and agreed by all parties that all assets contributed to the Fund shall become an irrevocable gift to the Foundation and legal control and responsibility for the Fund rests with the Foundation. In carrying out such responsibilities, the Foundation shall hold, manage, invest, and reinvest the Fund, and shall collect the income and shall pay and disburse monies from the Fund for public, educational and charitable uses and purposes.
Fund Assets. All Liechtenstein UCITS in the legal form of a (contractual) investment fund or collective trust shall be absolutely liable for taxation in Liechtenstein and subject to income tax. The income from the managed assets represents tax-free income. Issuing and sales taxes1 The establishment (issuing) of shares to this type of UCITS shall not be subject to issuing and sales tax. The transfer of property to investor shares in return for payment shall be subject to sales tax, provided one party or one broker is a domestic securities dealer. The redemption of investor shares shall be excluded from sales tax. The contractual investment fund or the collective trust shall be considered a sales-tax-exempt investor. The UCITS in the legal form of a contractual investment fund or collective trust shall not be subject to any withholding tax obligation in the Principality of Liechtenstein, in particular any coupon or withholding tax. Foreign income and capital gains generated by the UCITS in the legal form of a contractual investment fund or collective trusteeship can be subject to taxation at source in the country of investment. Possible double taxation agreements shall remain reserved.
Fund Assets. The Moderate Fund represents and warrants that on the Closing Date the assets received by the Conservative Fund from the Moderate Fund will be delivered to the Conservative Fund as provided in Section 1.1 free and clear of all liens, pledges, security interests, charges or other encumbrances of any nature whatsoever created by the Moderate Fund and without any restriction upon the transfer thereof, except for such liabilities assumed as provided in Section 1.1.
Fund Assets. On a pro forma basis immediately after giving effect to the transactions to occur on the Effective Date, the Company shall own Fund Assets (excluding any Ineligible Investments) with a Current Market Value of not less than 81.5% of the aggregate Current Market Value of the Fund Assets (excluding any Ineligible Investments) held by the Parent Entities on such date.
Fund Assets. The Capital Company represents and warrants that on the Closing Date the assets received by New MidCap Fund, New International Fund and New Small Cap Fund from MidCap Fund, International Fund and Small Cap Fund, respectively, will be delivered to New MidCap Fund, New International Fund and New Small Cap Fund, respectively, as provided in Section 1.1 free and clear of all liens, pledges, security interests, charges or other encumbrances of any nature whatsoever created by MidCap Fund, International Fund and Small Cap Fund and without any restriction upon the transfer thereof, except for such liabilities assumed as provided in Section 1.1.
Fund Assets. The Mid-Cap Fund represents and warrants that on the Closing Date the assets received by the Large-Cap Fund from the Mid-Cap Fund will be delivered to the Large-Cap Fund as provided in Section 1.1 free and clear of all liens, pledges, security interests, charges or other encumbrances of any nature whatsoever created by the Mid-Cap Fund and without any restriction upon the transfer thereof, except for such liabilities assumed as provided in Section 1.1.