Value of the Fund Clause Samples
The 'Value of the Fund' clause defines how the total worth of a fund is determined at a given point in time. Typically, this involves specifying the method for calculating the value of the fund's assets, such as using market prices, appraisals, or other valuation techniques, and may outline the frequency of such valuations (e.g., daily, monthly, or quarterly). This clause ensures transparency and consistency in reporting the fund's value, which is essential for investor confidence, accurate performance measurement, and fair processing of subscriptions and redemptions.
Value of the Fund. For the purpose of a transfer of assets, the purchase of a life annuity contract, a payment or transfer on the death of the Annuitant, or transfer to the Spouse on marriage breakdown, the value of the contract shall be the aggregate market value of the securities held in the Fund as of the market closing immediately prior to such payment or transfer. The Trustee, to establish the value of the Fund, will use a recognized pricing service, contact the issuer for value, or use the Financial Post or other leading financial papers. In the case of a purchase of a life annuity, all assets would be sold at market value on the date of sale.
Value of the Fund. The fair market value of the assets held under the Fund as determined by the Trustee in good faith shall be used to calculate the balance of the money and assets held under this Fund for any particular time, including on the death of the Annuitant or on a transfer of assets from the Fund. Any such determination by the Trustee shall be conclusive for all purposes hereof.
Value of the Fund. The value of all assets in the Fund owned by the Annuitant when the Annuitant signs the application shall be determined in accordance with the most recent statement about each fund or account given to the Annuitant. Each such statement must be dated within one year of the execution of the application by the Annuitant.
Value of the Fund. For the purpose of a transfer o f assets, the purchase of a life annuit y contract, a payment or transfer on the death of the Annuitant, or transfer to the Spouse on marriage break-up, the value of the contract shall be the aggregate market value of the securities hel d in the Fund as of the market closing immediately prior to such payment or transfer. The Trustee, to establish the value of t he Fund, will use a recognized pricing service, contact the issuer for value, or use the Financial Post or other leadi ng financial papers. In the cas e of a purchase of a lif e annuity, all assets would be sold at market value on the date of sale.