Offering Date definition
Examples of Offering Date in a sentence
Promptly after the Fund and the Distributor have determined the maximum amount of the Shares to be distributed by the Distributor for any Offering Date, which shall not in any event exceed the amount available for issuance under the currently effective Registration Statement (as defined herein) (the “Maximum Daily Amount”), and the Minimum Daily Price (as defined herein), the Distributor shall advise the Agent of the Maximum Daily Amount and the Minimum Daily Price.
The “Minimum Daily Price” means the minimum price per Share below which the Shares may not be sold by the Agent on any Offering Date, which shall not in any event be less than the current net asset value of such Shares (which net asset value shall be determined as of a time within twenty-four (24) hours, excluding Saturdays, Sundays and holidays, next preceding the time of such determination), plus the per Share amount of the commission to be paid to the Distributor.
The Fund may establish a minimum sales price per Share on any Offering Date in excess of the Minimum Price (the “Minimum Sales Price”), and the Fund shall communicate such Minimum Sales Price to the Distributor.
The Fund together with the Distributor or any sub-placement agent shall determine the maximum number of Shares to be sold through the Distributor or through such sub-placement agent for any Offering Date, and the Distributor or such sub-placement agent shall not be authorized to sell Shares on any Offering Date in excess of such maximum.
The Fund shall have sole discretion to establish a Minimum Sales Price for any Offering Date.