Valuation of Units. The net asset value (the "Net Asset Value") of the Units shall be determined by the Trustees or their designees each day that the New York Stock Exchange is open, as of the close of trading on the Exchange, New York City time, under policies and procedures as may be approved from time to time by the Trustees. Such value when so determined shall be taken as the value thereof for all purposes of this Agreement and shall be binding and final upon the Unitholders, their personal representatives, heirs, legatees, distributees, and beneficiaries.
Appears in 6 contracts
Samples: Fund Agreement (Elfun Government Money Market Fund), Fund Agreement (Elfun Tax Exempt Income Fund), Fund Agreement (Elfun Diversified Fund)
Valuation of Units. The net asset value (the "βNet Asset Value"β) of the Units shall be determined by the Trustees or their designees each day that the New York Stock Exchange is open, as of the close of trading on the Exchange, New York City time, under policies and procedures as may be approved from time to time by the Trustees. Such value when so determined shall be taken as the value thereof for all purposes of this Agreement and shall be binding and final upon the Unitholders, their personal representatives, heirs, legatees, distributees, and beneficiaries.
Appears in 6 contracts
Samples: Fund Agreement (Elfun International Equity Fund), Elfun Trusts (Elfun Trusts), Fund Agreement (Elfun Tax Exempt Income Fund)
