ACMT definition
Examples of ACMT in a sentence
The obligations of ACMT entered into in the name or on behalf thereof by any of its trustees, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the trustees, shareholders or representatives of ACMT personally, but bind only the trust property, and all persons dealing with any portfolio of ACMT must look solely to the trust property belonging to such portfolio for the enforcement of any claims against ACMT.
Subject to Section 1.4 hereof, the Valuation Time for the Reorganization shall be on such date as may be agreed by the duly authorized officers of ACMT.
Price quotations and the security characteristics relating to establishing such quotations shall be determined by ACMT.
No consent, approval, authorization or order of any court or governmental authority is required for the consummation by ACMT of the transactions contemplated by this Agreement, except such as may be required under the 1933 Act, the Securities Exchange Act of 1934, as amended (the "1934 Act"), the 1940 Act, the rules and regulations under those Acts, and state securities laws.
ACMT shall record on its books the ownership of shares of Tax-Free Bond by the record holders of shares of Limited-Term Tax-Free.
Delivery of the Limited-Term Tax-Free Assets and the shares of Tax-Free Bond to be issued pursuant to Section 1 and the liquidation of Limited-Term Tax-Free pursuant to Section 2 shall occur at the opening of business on the next business day following the Valuation Time, or on such other date, and at such place and time, as may be determined by the President or any Vice President of ACMT.
The net asset value of the Limited-Term Tax-Free Assets to be transferred by ACMT shall be computed by ACMT.
As soon as practicable after the Effective Time, ACMT shall take all steps as shall be necessary and proper to effect the dissolution of Limited-Term Tax-Free under federal and state law.
In determining the value of the securities transferred by Florida Municipal Money Market to Tax-Free Money Market, each security shall be priced in accordance with the policies and procedures of ACMT as described in its then-current prospectus and statement of additional information and adopted by ACMT's Board of Trustees.
Simultaneously, ACMT shall, on behalf of Tax-Free Bond, accept the Limited-Term Tax-Free Assets and assume all liabilities, whether accrued, absolute, contingent or otherwise, of Limited-Term Tax-Free reflected in the calculation of Limited-Term Tax-Free's net asset value (the "Limited-Term Tax-Free Liabilities").