Investment Restrictions and Exceptions to Restrictions Clause Samples

Investment Restrictions and Exceptions to Restrictions. 6.4.1 The Trust Property shall be subject to such exposure limits as are provided in the Regulations, this Deed, and Offering Document of the Fund and shall also be subject to any exemptions that may be specifically given to the Fund by the SECP. If and so long as the value of the holding in a particular company or sector shall exceed the limit imposed by the Regulations, the Management Company shall not purchase any further Investments in such company or sector. In the event Exposure limits are exceeded due to corporate actions including taking up rights or bonus issue and owing to appreciation or depreciation in value of any Investment, disposal of any Investment or Redemption of Units, the excess exposure shall be regularized in such manner and within such time as specified in the Regulations and prescribed by SECP 6.4.2 The Management Company, on behalf of the Fund, shall not enter into transactions with any broker that exceeds the limit provided in the Regulations and or circulars and Notifications issued by the Commission from time to time. Transactions relating to money market instruments and debt securities do not fall under the ambit of clause 6.4.2. 6.4.3 The Management Company on behalf of the Scheme shall not: a) Purchase or sell - • Bearer securities; • Securities on margin; • Real estate, commodities or commodity contracts; • Securities which result in assumption of unlimited liability (actual or contingent); • Any investment other than Authorized Investments as defined herein; b) Participate in a joint account with others in any transaction; c) Take direct exposure to equities d) Take exposure in spread transactions, etc.; e) Affect a short sale in a security whether listed or unlisted; f) Purchase any security in a forward contract. g) Take Exposure in any other Collective Investment Scheme. h) Make any investment which will vest with the Management Company or its group the management or control of the affairs of the investee company. i) Take exposure in TFC/Sukuks j) Invest in securities of the Management Company 6.4.4 The Management Company shall comply with the exposure limits provided in the Regulations. 6.4.5 Rating of any security in the portfolio shall not be lower than A. 6.4.6 In case of redemptions requests are pending for more than the period as stipulated in the Regulations, the Management Company shall not make any investment or rollover of any investment without consent of the Trustee. 6.4.7 The Management Company shall not ne...
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Investment Restrictions and Exceptions to Restrictions. 6.4.1 The Trust Property shall be subject to such exposure limits as are provided in the Regulations (subject to any exemptions that may be specifically given to the Fund by the SECP). 6.4.2 The Management Company, on behalf of the Fund, shall not enter into transactions with any broker that exceeds 30% of the commission paid by the Fund in any Annual Accounting Period. 6.4.3 The Management Company on behalf of the Scheme shall not: a) Purchase or sell - • Bearer securities; • Securities on margin; • Real estate, commodities or commodity contracts; • Securities which result in assumption of unlimited liability (actual or contingent); • Anything other than Authorized Investments as defined herein; b) Participate in a joint account with others in any transaction; c) Take direct / indirect exposure to equities i.e. no exposure in equities, CFS, spread transactions, etc.; d) Affect a short sale in a security whether listed or unlisted; e) Purchase any security in a forward contract. f) Take Exposure in any other Collective Investment Scheme. g) Make any investment which will vest with the Management Company or its group the management or control of the affairs of the investee company. 6.4.4 The Management Company shall comply with the exposure limits provided in the Regulations. 6.4.5 At-least 150 185 % 270% of Net Assets of NGSLF shall remain invested in Government Securities during the year based on quarterly average investment calculated on a daily basis. 6.4.6 Rating of any security in the portfolio shall not be lower than AA.
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Investment Restrictions and Exceptions to Restrictions. 6.4.1 1The Deposited Property shall be subject to such restrictions and exposure limits as are provided in the Rules and Regulations and prescribed by SECP; provided that where such limits are exceeded due to actions permissible under the Regulations or by SECP, including appreciation or depreciation in value of any Investment, disposal of any Investment or redemption of Units, the excess exposure shall be regularized in such manner and within such time as specified in the Regulations and/ or SECP.The Trust Property shall be subject to such exposure limits as are provided in the Rules and Regulations (subject to any exemptions that may be specifically given to the Fund by the SECP): Provided that it will not be necessary for the Trustee to sell any Investment merely because owing to appreciation or depreciation of any Investment or disposal of any Investments or because of corporate actions including taking up rights or bonus issue or decrease in Net Assets of the Scheme due to redemptions such limit shall be exceeded. The Management Company will have three (3) months to comply with the exposure limits in case such limits are exceeded. 6.4.2 As per Regulation 64(8), Scheme shall not invest more than twenty five (25) percent of its Net Assets in securities of any one sector as per classification of the stock exchange(s) and as per Regulation 64(5), investment of a Scheme in any company shall not, at any time, exceed an amount equal to 10% of the total Net Assets of the Scheme at the time of investment or 10% of the issued capital of the investee company, whichever is lower. 6.4.3 In the event, the weightages of the securities or the sectors exceed the limits laid down in clauses 6.4.2 of this Deed as a result of the relative movement in the market prices of the investments or any corporate actions (including bonus shares or right shares) or through any disinvestment or decrease in Net Assets of the Scheme due to redemptions,, the Management Company shall bring the exposure within the prescribed limits within three months of the event. The Management Company will not invest further in such shares or sectors while the deviation exists. However, this restriction on purchase shall not apply to any offer of right shares or any such other offering if the Management Company is satisfied that accepting such offer is in the interest of the Trust provided that the Management Company will bring exposure within limits in six months as mentioned above. 6.4.4 The Managem...
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Related to Investment Restrictions and Exceptions to Restrictions

  • Investment Restrictions As described in Fund’s current prospectus and SAI provided by Manager and as agreed to by Sub-Adviser.

  • Securities Law Restrictions In addition to any restrictions to be contained in that certain letter agreement (commonly known as an “Insider Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company, Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred shall then be effective or (b) the Company has received an opinion from counsel reasonably satisfactory to the Company, that such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission thereunder and with all applicable state securities laws.

  • Age Restrictions Drivers must be 21 years of age or over.

  • Certain Restrictions (A) Whenever quarterly dividends or other dividends or distributions payable on the Series A Junior Participating Preferred Stock as provided in Section 2 are in arrears, thereafter and until all accrued and unpaid dividends and distributions, whether or not declared, on shares of Series A Junior Participating Preferred Stock outstanding shall have been paid in full, the Corporation shall not (i) declare or pay dividends on, make any other distributions on, or redeem or purchase or otherwise acquire for consideration any shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Participating Preferred Stock; (ii) declare or pay dividends on or make any other distributions on any shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Participating Preferred Stock, except dividends paid ratably on the Series A Junior Participating Preferred Stock and all such parity stock on which dividends are payable or in arrears in proportion to the total amounts to which the holders of all such shares are then entitled; (iii) redeem or purchase or otherwise acquire for consideration shares of any stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Participating Preferred Stock, provided that the Corporation may at any time redeem, purchase or otherwise acquire shares of any such parity stock in exchange for shares of any stock of the Corporation ranking junior (either as to dividends or upon dissolution, liquidation or winding up) to the Series A Junior Participating Preferred Stock; or (iv) purchase or otherwise acquire for consideration any shares of Series A Junior Participating Preferred Stock, or any shares of stock ranking on a parity with the Series A Junior Participating Preferred Stock, except in accordance with a purchase offer made in writing or by publication (as determined by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after consideration of the respective annual dividend rates and other relative rights and preferences of the respective series and classes, shall determine in good faith will result in fair and equitable treatment among the respective series or classes. (B) The Corporation shall not permit any subsidiary of the Corporation to purchase or otherwise acquire for consideration any shares of stock of the Corporation unless the Corporation could, under Paragraph (A) of this Section 4, purchase or otherwise acquire such shares at such time and in such manner.

  • Additional Restrictions In addition to any other restrictions on Transfer contained in this Agreement, in no event may any Transfer of a Partnership Interest by any Partner or any redemption pursuant to Section 8.6 be made without the express consent of the General Partner, in its sole and absolute discretion, (i) to any person or entity who lacks the legal right, power or capacity to own a Partnership Interest; (ii) in violation of applicable law; (iii) of any component portion of a Partnership Interest, such as the Capital Account, or rights to distributions, separate and apart from all other components of a Partnership Interest; (iv) if in the opinion of the General Partner based on the advice of legal counsel, if appropriate, such Transfer would cause a termination of the Partnership for federal or state income tax purposes (except as a result of a redemption of all Partnership Units held by all Limited Partners); (v) if in the opinion of the General Partner based on the advice of legal counsel, if appropriate, such Transfer would cause the Partnership to cease to be classified as a partnership for federal income tax purposes (except as a result of a redemption of all Partnership Units held by all Limited Partners); (vi) if such Transfer requires the registration of such Partnership Interest pursuant to any applicable federal or state securities laws; (vii) if such Transfer would cause the Partnership to become a “publicly traded partnership,” as such term is defined in Section 7704(b) of the Code (provided that this clause (vii) shall not be the basis for limiting or restricting in any manner the exercise of the Redemption Right under Section 8.6 unless, and only to the extent that, outside tax counsel advises the General Partner that, in the absence of such limitation or restriction, there is a significant risk that the Partnership will be treated as a “publicly traded partnership” and, by reason thereof, taxable as a corporation); (viii) if such Transfer would cause the General Partner to own 10% or more of the ownership interests of any tenant of a property held by the Partnership within the meaning of Section 856(d)(2)(B) of the Code; (ix) if such Transfer would result in the General Partner being “closely held” within the meaning of Section 856(h) of the Code; or (x) if in the opinion of the General Partner based on the advice of legal counsel, if appropriate, such Transfer would adversely affect the ability of the General Partner to continue to qualify as a REIT or subject the General Partner to any additional taxes under Sections 857 or 4981 of the Code.