Examples of Collection Account in a sentence
All subscriptions (including subscriptions received in advance of the issue of Shares) attrib utable to, and all redemptions or cash distributions payable from a Portfolio will be channelled and managed through that Portfolio’s Cash Collection Account.
Monies in the Cash Collection Account will be taken into account in the calculation of the NAV, and assessing compliance with investment restrictions b y the relevant Portfolio.
Pending the issue of Shares, and pending payment of redemption proceeds o r distributions, such monies in the Cash Collection Account are assets of the relevant Portfolio, and the relevant investor will be an unsecured creditor of the Portfolio in respect of amounts paid by or due to it.
Failure to provide the necessary complete and accurate documentation, and or to make payment into the correct Cash Collection Account, is at the investor’s risk.
Where subscription monies are received in a Cash Collection Account without sufficient documentation to identify the investor, such monies shall be returned to the relevant investor within 5 days.