Average Net Asset Value definition

Average Net Asset Value is the average of the value of the assets of Clear Spring Life serviced hereunder as of the current quarter end and the most recent prior quarter end.
View Source
Average Net Asset Value means, for any fiscal quarter for any Person, the average of the Net Asset Value of such Person as of the end of each of the three months during such fiscal quarter.
View Source

Examples of Average Net Asset Value in a sentence

  • A = Average Net Asset Value of all the Commission Shares (or all Shares if available) of all Funds for such calendar month attributed to the existing Principal Servicer or such subsequent Principal Servicer, as the case may be B = Total average Net Asset Value of all Commission Shares (or all Shares if available) of all Funds for such calendar month.

  • For example, if the Monthly Average Net Asset Value is ----------- $200,000,000 for the preceding month: $200,000,000 x ------%/12 = $--------- for the month.

  • If, during such period, the parties are unable to reach agreement, they shall promptly thereafter select a firm of independent nationally recognized public accountants chosen and mutually accepted by both parties (the "Accountant") promptly to review this Agreement, the appropriate books and records of the Companies and the disputed items or amounts for the purpose of calculating Closing Net Asset Value and Average Net Asset Value.

  • Therefore, If the Quarterly Average Net Asset Value of the Portfolio is $6,000,000,000, North Track will pay PSE a quarterly installment of the Exclusivity Fee of $221,875 ($196,875 plus $1,000,000,000 x 0.0001/4).

  • Buyer shall be deemed to have agreed with all other items and amounts contained in the Closing Statements and the calculation of Closing Net Asset Value and Average Net Asset Value delivered pursuant to Section 3.6(a).

  • The Exclusivity Fee shall be calculated as follows: o North Track will pay PSE a quarterly Exclusivity Fee of $5,000 if the Quarterly Average Net Asset Value of the Portfolio does not exceed $100,000,000; o if the Quarterly Average Net Asset Value of the Portfolio is greater than $100,000,000 but less than $750,000,000, North Track will pay PSE a quarterly installment of the Exclusivity Fee equal to 0.02% of average net assets of the PSE Tech 100 Index Portfolio.

  • In making such calculation, the Accountant shall consider only those items or amounts in the Closing Statements or Sellers' calculation of Closing Net Asset Value or Average Net Asset Value as the case may be, as to which Buyer has disagreed and other adjustments directly related thereto.

  • The following changes shall be made to the License Fees set forth in Paragraph 3(a)(1)(ii) of the Agreement and these changes shall be effective as of February 1, 2002: o If the Monthly Average Net Asset Value of the Portfolio is $50,000,000 to $100,000,000, the License Fees shall remain as set forth in the Agreement.

  • The Quarterly Average Net Asset Value shall be calculated by averaging the daily ending balances for each business day of the quarter.

  • The amount of the Exclusivity Fee is based on a percentage of the assets of the Portfolio for the year, however the Exclusivity Fee will be paid in quarterly installments and calculated based on the Quarterly Average Net Asset Value of the assets of the Portfolio for the preceding quarter.

Related to Average Net Asset Value

  • Average Net Assets means the average of all of the determinations of the Fund’s net asset value at the close of business on each business day during each month while this Contract is in effect. The fee is payable for each month within 15 days after the close of the month. The fees payable by the Fund to the Manager pursuant to this Section 3 will be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund for any fiscal year exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are qualified for offer or sale, the compensation due the Manager for such fiscal year will be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager will be reduced, and if necessary, the Manager will assume expenses of the Fund, to the extent required by the terms and conditions of such expense limitation. If the Manager serves for less than the whole of a month, the foregoing compensation will be prorated.

  • Net Asset Value or "NAV” means per Unit value of the Trust arrived at by dividing the Net Assets by the number of Units outstanding.

  • average daily net assets of the Fund shall mean the average of the values placed on the Fund's net assets as of 4:00 p.m. (New York time) on each day on which the net asset value of the Fund is determined consistent with the provisions of Rule 22c-1 under the 1940 Act or, if the Fund lawfully determines the value of its net assets as of some other time on each business day, as of such time. The value of the net assets of the Fund shall always be determined pursuant to the applicable provisions of the Declaration and the Registration Statement. If the determination of net asset value does not take place for any particular day, then for the purposes of this section 6, the value of the net assets of the Fund as last determined shall be deemed to be the value of its net assets as of 4:00 p.m. (New York time), or as of such other time as the value of the net assets of the Fund's portfolio may be lawfully determined on that day. If the Fund determines the value of the net assets of its portfolio more than once on any day, then the last such determination thereof on that day shall be deemed to be the sole determination thereof on that day for the purposes of this section 6. You may waive all or a portion of your fees provided for hereunder and such waiver shall be treated as a reduction in purchase price of your services. You shall be contractually bound hereunder by the terms of any publicly announced waiver of your fee, or any limitation of the Fund's expenses, as if such waiver or limitation were fully set forth herein.

  • Adjusted Net Assets of such Guarantor at any date shall mean the lesser of (1) the amount by which the fair value of the property of such Guarantor exceeds the total amount of liabilities, including contingent liabilities (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), but excluding liabilities under the Guarantee of such Guarantor at such date and (2) the amount by which the present fair salable value of the assets of such Guarantor at such date exceeds the amount that will be required to pay the probable liability of such Guarantor on its debts (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), excluding debt in respect of the Guarantee of such Guarantor, as they become absolute and matured.

  • Net Asset Value per Unit means the Net Asset Value divided by the number of Units outstanding on the date of calculation.