Initial Investments means the following Investments, each as referenced on Exhibit D: Bent Tree Apartments, Evergreens at Mt. Moriah Apartments, and mezzanine loans for Waters at Elm Creek and Waters at Bluff Springs.
No interest shall be paid on (a) Initial Investments, Additional Investments or Reinvestment Funds held pending investment or return to the relevant Participant or submitting Person, as the case may be, or (b) sale proceeds pending payment to the relevant Participant.
The Administrator shall cause the Independent Agent to use its best efforts to purchase ADSs for the Plan at least twice a week and to use its best efforts to invest Initial Investments and Additional Investments that are received by the Administrator within three (3) Business Days and to invest the Reinvestment Fund on the relevant Payment Date, except in each case where deferral is necessary to comply with applicable federal or state securities laws.
Dividends paid with respect to Reinvesting Accounts, Initial Investments and Additional Investments shall be invested in ADSs purchased in the Open Market or in newly issued ADSs representing Ordinary Shares purchased from Novartis.
Any Additional Investments and Initial Investments not invested in ADSs within thirty-five (35) days of receipt by the Administrator, and any Dividends not invested in ADSs within thirty (30) days of the relevant Payment Date, shall be promptly sent by first class mail to the relevant Participants or, in the case of Initial Investments, to the submitting Person at his address of record.
You may make additional investments at any time (minimum subsequent investment $1,000) by mailing a check payable to LKCM Funds to the address noted in the section entitled "Initial Investments - By Mail." Additional investments may also be made by wire.