Fund Value Clause Samples
The 'Fund Value' clause defines the current worth of an investment fund or policy at a given point in time. It typically specifies how the value is calculated, such as by aggregating the net asset value of underlying investments, deducting applicable fees, and accounting for any gains or losses. This clause is essential for determining the amount payable to policyholders or investors upon withdrawal, surrender, or maturity, ensuring transparency and clarity in financial transactions.
Fund Value. 19.6.6.1.4.1 There is five thousand dollars ($5,000) available in each year of the Agreement (July 1 – June 30) for the Fund.
19.6.6.1.4.2 To bring the benefit in line with the tax year, the Parties agree that the five thousand dollars ($5,000) referenced will be split as follows; two thousand five hundred dollars ($2,500) for the period July 1 to December 31, five thousand dollars ($5,000) annually for the period January 1 to December 31, and two thousand five hundred dollars ($2,500) for the period January 1 to June 30.
19.6.6.1.4.3 Funds remaining at the end of each period/year will be designated as surplus and retained within the Fund. On a period/annual basis the Parties shall review the total surplus amount and may either retain the surplus, or a portion thereof, in the Fund, or transfer the surplus, or a portion thereof, to the Medical Service Travel Fund referred to in Article 50.6.2(j) and any Memorandums of Understanding relating to Article 50.6.2(j).
Fund Value. There is twenty thousand dollars ($20,000) available in each year of the Agreement (July 1 – June
Fund Value. The Employer will contribute twenty thousand dollars ($20,000) on July 1, 2023, and twenty-five thousand dollars ($25,000) in each subsequent year of the Agreement.
Fund Value. 19.7.4.1 There is thirty-one thousand, forty-five dollars ($31,045) available in each year of the Agreement (July 1 – June 30) for the Fund.
19.7.4.2 Funds remaining at the end of each period/year will be designated as surplus and retained within the Fund.
Fund Value. 19.7.3.1 There is thirty-one thousand, forty-five dollars ($31,045) available in each year of the Agreement (July 1 – June 30) for the Fund. The Employer will transfer this sum annually to the Association.
19.7.3.2 Funds remaining at the end of each period/year will be designated as surplus and retained within the Fund.
19.7.3.3 The Association will develop a policy and procedures governing the fund. Upon request the Association will provide the Employer with an annual report of expenditures under the fund, aggregated to protect personal information.
Fund Value. If the Client directs the Custodian (as indicated on Appendix A attached hereto), and the Custodian consents, the Custodian shall provide to the Client, its service providers or its agents for each Valuation Date (defined below) a total net asset (“TNA”) calculation service and/or a net asset value (“NAV”) calculation service for each portfolio (each such portfolio referred to as a "Fund") designated by the Client and agreed to by the Custodian in accordance with Sections 7.2 and 7.3 below, as applicable. "Business Day" shall mean any day that the New York Stock Exchange is open for trading. Each day on which any such value is calculated is referred to as a "Valuation Date." A Valuation Date shall be any such Business Day or Business Days as the Client and the Custodian shall agree upon from time to time. Notwithstanding the foregoing, in the event that Destra (and/or the Client on behalf of which Destra acts hereunder) engages The Bank of New York Mellon to act as administrator of, or to provide administrative services for, any such Client pursuant to a separate written agreement between Destra (and/or any such Client) and The Bank of New York Mellon, where the services provided pursuant to such written agreement include the calculation and reporting of a TNA and/or NAV, the provisions directly relating thereto, as reflected in any such separate written agreement, shall govern.