Regulated Investment Company Election Sample Clauses

Regulated Investment Company Election. If the Prospectus for a Trust states that such Trust intends to elect to be treated and to qualify as a "regulated investment company" as defined in the United States Internal Revenue Code of 1986, as amended, the Trustee is hereby directed to make such elections and take all actions, including any appropriate election to be taxed as a corporation, as shall be necessary to effect such qualification or to provide funds to make any distribution for a taxable year in order to avoid imposition of any income or excise tax on the Trust or on undistributed income in the Trust. The Trustee shall make such reviews of each Trust portfolio as shall be necessary to maintain qualification of a particular Trust as regulated investment company and to avoid imposition of tax on a Trust or undistributed income in a Trust, and the Depositor and Supervisor shall be authorized to rely conclusively upon such reviews."
Regulated Investment Company Election. Each Trust elects to be treated and to qualify as a "regulated investment company" as defined in the Internal Revenue Code, and the Trustee is hereby directed to make such elections, including any appropriate election to be taxed as a corporation, as shall be necessary to effect such qualification."
Regulated Investment Company Election. The Series Trustee is hereby directed to make such elections and take all actions, including any appropriate election to be taxed as a corporation, as shall be necessary to effect the qualification of the Series as a RIC.”
Regulated Investment Company Election. If the Series MSA Supplement for a Series of Trust states that such Series of Trust intends to elect to be treated and to qualify as a RIC, the Depositor on behalf of the Trust will make such elections and take all actions, including any appropriate election to be taxed as a corporation, as shall be necessary to effect such qualification. As authorized by Section 7.03, the Depositor on behalf of the Trust will engage accountants to prepare or review tax returns and tax filings for each such Series of Trust and otherwise to monitor all aspects of such Series of Trust’s compliance with the rules of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies. None of the Depositor, Supervisor, Evaluator, or any BNY Party shall be liable to any person for any actions taken upon the instruction of such accountants or for any omission in the absence of such instruction.
Regulated Investment Company Election. Trustee’s Reliance on Advice of the Trust Accountants with Respect to Compliance with Regulated Investment Company Rules 22 Article IV Evaluation of Securities; Compensation for Evaluation; Succession 22
Regulated Investment Company Election. Trustee’s Reliance on Advice of the Trust Accountants with Respect to Compliance with Regulated Investment Company Rules 22 Article IV Evaluation of Securities; Compensation for Evaluation; Succession 22 Section 4.01. Evaluation of Securities 22 Section 4.02. Information for Unit Holders 23 Section 4.03. Compensation for Services Provided 23 Section 4.04. Liability of the Depositor for Evaluations 24 Section 4.05. Resignation of Depositor; Successor 24 Article V Evaluation, Redemption, Purchase, Transfer of Units 25 Section 5.01. Evaluation 25 Section 5.02. Redemptions by Trustee; Purchases by Depositor 26 Section 5.03. Transfer of Uxxxx 00 Xxxxxxx 5.04. Reserved 28 Article VI Trustee 28 Section 6.01. General Definition of Trustee’s Liabilities, Rights and Duties 28 Section 6.02. Books, Records and Reports 32 Section 6.03. Indenture and List of Securities on File 32 Section 6.04. Compensation 33 Section 6.05. Removal and Resignation of Trustee; Successor 34 Section 6.06. Qualifications of Trustee 35 Article VII Rights of Unit Holders 36 Section 7.01. Beneficiaries of Trust 36 Section 7.02. Rights, Terms and Conditions 36 Article VIII Additional Covenants; Miscellaneous Provisions 36 Section 8.01. Amendments 36 Section 8.02. Termination 37 Section 8.03. Construction 39 Section 8.04. Registration of Units 39 Section 8.05. Written Notice 39 Section 8.06. Severability 39 Section 8.07. Dissolution of Depositor Not to Terminate 39 Standard Terms and Conditions of Trust for FT 10366 and Subsequent Series Effective: October 25, 2022 These Standard Terms and Conditions of Trust effective October 25, 2022 are executed between First Trust Portfolios L.P., as Depositor, The Bank of New York Mellon, as Trustee and First Trust Advisors L.P., as Portfolio Supervisor.

Related to Regulated Investment Company Election

  • Investment Company Act The Company is not required, and upon the issuance and sale of the Securities as herein contemplated and the application of the net proceeds therefrom as described in the Registration Statement, the General Disclosure Package and the Prospectus will not be required, to register as an “investment company” under the Investment Company Act of 1940, as amended (the “1940 Act”).

  • Investment Company Status Neither the Borrower nor any of its Subsidiaries is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940.

  • Investment Company Act Status The Company is not, and as a result of the consummation of the transactions contemplated by the Transaction Documents and the application of the proceeds from the sale of the Shares as will be set forth in the Prospectus included in any Registration Statement (and any post-effective amendment thereto) and any Prospectus Supplement thereto filed pursuant to the Registration Rights Agreement the Company will not be an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

  • Investment Company Act, Etc Neither the Borrower nor any of its Subsidiaries is (a) an “investment company” or is “controlled” by an “investment company”, as such terms are defined in, or subject to regulation under, the Investment Company Act of 1940, as amended, or (b) otherwise subject to any other regulatory scheme limiting its ability to incur debt or requiring any approval or consent from or registration or filing with, any Governmental Authority in connection therewith.

  • Company Not an “Investment Company The Company is not, and will not be, either after receipt of payment for the Offered Shares or after the application of the proceeds therefrom as described under “Use of Proceeds” in the Registration Statement, the Time of Sale Prospectus or the Prospectus, required to register as an “investment company” under the Investment Company Act of 1940, as amended (the “Investment Company Act”).