Income of the fund definition

Income of the fund means income that is determined according to subsection (2) or subsection (3).
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Income of the fund means for any taxation year of the Fund the net income for the year determined pursuant to the provisions of the Tax Act (other than subsection 104(6) and paragraph 82(1)(b)) having regard to the provisions thereof which relate to the calculation of income of a trust, and taking into account such adjustments thereto as are determined by the Trustee in respect of dividends received from taxable Canadian corporations, amounts paid or payable by the Fund to Unitholders and such other amounts as may be determined in the Discretion of the Trustee; provided, however, that capital gains and capital losses shall be excluded from the computation of net income;
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Examples of Income of the fund in a sentence

  • Both Royalty and Distribution Income of the Fund are based on Franchise Sales of Boston Pizza Restaurants in the Royalty Pool and are not determined by the profitability of BPI, BP Canada LP or Boston Pizza Restaurants in the Royalty Pool.

  • Management fees and other reasonable expenses incurred in the operations of the Fund are charged as expenses in the Statements of Comprehensive Income of the Fund, and include expenses paid by the manager on behalf of the Fund and subsequently recharged to the Fund as described in note 11.

  • TAXATION7.1 Taxation on the Income of the Fund 7.1.1 Liability for Income TaxThe following is a brief description of the Income Tax Ordinance, 2001, applicable in respect of the Fund.

  • Income of the Fund is deemed to be distributed for tax purposes, even when it is accumulated.

  • The management fee rebates are included in “Fees rebate receivable” and in “Fees rebate” as reflected in the Statements of Financial Position and Statements of Comprehensive Income of the Fund, as applicable.

  • Distribution to unit holders are estimated at 100% of the Net Income of the Fund in any year and Interest income distributable to unit holders will be on quarterly basis.

  • In determining the Income of the Fund attributable to an Investment Portfolio and Personal Plan for any period the Manager shall take into account all amounts due and receivable which are or would be liable to be included in the total assessable income of the Fund attributable to that Investment Portfolio or Personal Plan and all costs, charges and expenses due and payable in accordance with generally accepted accounting practice (as defined in the Financial Reporting Act 2013).

  • Management fees and other reasonable expenses incurred in the operations of the Fund are charged as expenses in the Statements of Comprehensive Income of the Fund, and include expenses paid by the manager on behalf of the Fund and subsequently recharged to the Fund as described in note 12.

  • Notwithstanding the foregoing, the amount of any Net Income of the Fund that is determined by the Corporation, on behalf of the Fund and the Trustee, to be required to be retained by the Fund in order to pay any liability of the Fund which has not been previously deducted in determining the Net Income of the Fund shall not be payable by the Fund to Unitholders.

  • The total commissions paid by the Fund to brokers in connection with portfolio transactions are reported in footnote Brokerage Commissions and Fees on the Statements of Comprehensive Income of the Fund.

Related to Income of the fund

  • Fresh Funds means funds that:

  • Loan Fund means the special fund created by the RECIPIENT for the repayment of the principal of and interest on the loan. “Loan Security” means the mechanism by which the RECIPIENT pledges to repay the loan.

  • Investment Fund has the same meaning as in National Instrument 81-106 Investment Fund Continuous Disclosure;

  • Investment Funds means all monies and financial resources available for investment by the Authority, other than proceeds of bonds issued by the Authority.

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Special Funds means, collectively, the Bond Fund, the Project Fund and the Collateral Fund, and any accounts therein, all as created in this Indenture.

  • Sub-Fund means a segregated pool of assets and liabilities into which the Trust Fund is divided, established under the Trust Deed and the relevant supplemental deed as a separate trust as described in the relevant Appendix.

  • Special Fund means any fund other than the city general fund.

  • Principal Funding Account Balance means, with respect to any date of determination, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Principal Funds With respect to the Mortgage Loans and any Distribution Date, the sum, without duplication, of (1) the scheduled principal due during the related Due Period and received before the related Servicer Remittance Date or advanced on or before the related Servicer Remittance Date, (2) prepayments in full collected in the related Prepayment Period, (3) the Stated Principal Balance of each Mortgage Loan that was purchased by the Depositor during the related Prepayment Period or, in the case of a purchase pursuant to Section 9.01, on the Business Day prior to such Distribution Date, (4) the amount, if any, by which the aggregate unpaid principal balance of any Replacement Mortgage Loan is less than the aggregate unpaid principal of the related Deleted Mortgage Loans delivered by the Sponsor in connection with a substitution of a Mortgage Loan pursuant to Section 2.03(c), (5) all Liquidation Proceeds collected during the related Prepayment Period (to the extent such Liquidation Proceeds relate to principal and represent payment in full), (6) all Subsequent Recoveries received during the related Due Period and (7) all other collections and recoveries in respect of principal during the related Due Period, less (A) all Non-Recoverable Advances relating to principal with respect to the Mortgage Loans and (B) other amounts reimbursable (including without limitation indemnity payments) to the Servicer and the Trustee pursuant to this Agreement allocable to principal.

  • Master Fund means a registered investment company or a series thereof in which the Trust or a Series, as applicable, invests all or substantially all of its assets pursuant to a master/feeder fund structure as described in Section 8.3(c);

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Mutual Funds means (i) all open-end mutual funds; and (ii) similar pooled investment vehicles established in non-U.S. jurisdictions, such as registered investment trusts in Japan. For purposes of the Code, Mutual Fund does not include shares of open-end money market mutual funds (unless otherwise advised by Compliance).

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Pre-Funding Earnings means any Investment Earnings on amounts on deposit in the Pre-Funding Account.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Member of the family shall have the meaning prescribed by Code Section 529(e)(2), and shall mean any individual who bears one of the following relationships to the beneficiary:

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Investment Vehicle means a corporation, partnership, limited partnership, limited liability company, association, or other entity, either domestic or foreign, managed by an external manager in which a board is the majority investor and that is organized in order to invest with, or retain the investment management services of, other external managers.

  • Program fund means the program fund established under section 12D.4.

  • Infrastructure fund means the renewable fuel infrastructure fund created in section 159A.16.

  • Investment pool means an entity created under the Texas Gov- ernment Code to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in or- der of priority are preservation and safety of principal, liquidity, and yield.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Investment Strategy is the processes and policies implemented by the Investment Manager for pursuing a particular investment objective managed by an Investment Team.

  • Investment Objective : means the objective of securing the return described in the brochure to which these Terms and Conditions are attached.

  • Alternative Investment Vehicle means an entity created in accordance with the Operative Documents of a Borrower to make investments and that has the right to call on Capital Commitments directly from Investors.