Permitted Free Exchange definition

Permitted Free Exchange means any exchange of Shares of one Fund (the "Redeeming Fund") for Exchange Shares of another Fund (the "Issuing Fund"), where, pursuant to the applicable constituent documents of the Issuing Fund: (i) Exchange Shares of the Issuing Fund are deemed for all purposes (including the computation of the amount and timing of payments of the related CDSC) to have been acquired at the time the exchanged Shares of the Redeeming Fund were acquired (or deemed to have been acquired) by the holder thereof; (ii) the exchanging shareholder becomes obligated to pay the same CDSC in respect of the Issuing Fund in respect of the Exchange Shares of the Issuing Fund and on the same terms as such holder was obligated to pay in respect of the Redeeming Fund in respect of the Shares of the Redeeming Fund so exchanged; (iii) the date upon which such Exchange Shares of the Issuing Fund received in the exchange are to be converted pursuant to the Permitted Conversion Feature is the same as the date the exchanged Shares of the Redeeming Fund were to be converted pursuant to the Permitted Conversion Feature of the exchanged Shares; (iv) (subject to reallocation, if any, as may be permitted by any agreement by which the Distributor is bound) the Amortized Maximum Aggregate Sales Charge Allowable in respect of the Shares of the Issuing Fund to which such Exchange Shares belong and the Redeeming Fund the Shares of which were so exchanged is increased or decreased, depending upon whether the amount of the adjustment described below is a positive or negative number, respectively, effective as of the beginning of the calendar quarter immediately following the calendar quarter in which such exchange occurred, by the product obtained by multiplying (a) the "Net Asset Value Exchange Adjustment" (as hereinafter defined, which may be a positive or negative number) for Shares of such Fund for the calendar quarter in which such exchange occurred by (b) a fraction the numerator of which is the Amortized Maximum Aggregate Sales Charge Allowable in respect of Shares of such Fund and the denominator of which is the Net Assets of such Fund, both the numerator and denominator computed as of the end of the calendar quarter immediately preceding the calendar quarter in which such exchange occurred, it being understood that, for purposes of this clause (iv), the term "Net Asset Value Exchange Adjustment" shall mean, in respect of Shares of any Fund of any calendar quarter, the negative or positive number...
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Permitted Free Exchange with respect to any Shares of any Fund, shall mean an exchange of such Share for a Share of another Fund which pursuant to the terms of the related Prospectus for such Shares, relieves or defers the CDSCs in respect of such Share.
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Permitted Free Exchange means any exchange of Shares of one Fund ----------------------- (the "Redeeming Fund") for Exchange Shares of another Fund (the "Issuing Fund"), where, pursuant to the applicable constituent documents of the Issuing Fund: (i) Exchange Shares of the Issuing Fund are deemed for all purposes (including the computation of the amount of, and timing of payment of the related Contingent Deferred Sales Charge) to have been acquired at the time when the exchanged Shares of the Redeeming Fund were acquired (or deemed to have been acquired) by the holder thereof; (ii) the exchanging shareholder becomes obligated to pay to the Issuing Fund the same Contingent Deferred Sales Charge in respect of the Exchange Shares of the Issuing Fund and on the same terms as such holder was obligated to pay to the Redeeming Fund in respect of the Shares of the Redeeming Fund so exchanged; (iii) the date upon which such Exchange Shares of the Issuing Fund received in the Exchange are converted pursuant to the Permitted Conversion Feature is the same as the date the exchanged Shares of the Redeeming Fund were to be converted pursuant to the Permitted Conversion Feature of the exchanged Shares; (iv) the Maximum
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Examples of Permitted Free Exchange in a sentence

  • A Commission Share redeemed other than in connection with a Permitted Free Exchange or converted to a Class A share is attributable to the existing Principal Distributor or a subsequent Principal Distributor based upon the Date of Original Issuance in accordance with rule (a), (b) and (c) above.

  • A Commission Share redeemed other than in connection with a Permitted Free Exchange or converted to a Class A Share is attributable to the existing Principal Servicer or a subsequent Principal Servicer based upon the Date of Original Issuance in accordance with rules (a), (b) and (c) above.

Related to Permitted Free Exchange

  • Free Exchange means an exchange of a Commission Share of one Fund for a Commission Share of another Fund under circumstances where the CDSC which would have been payable in respect of a redemption of the exchanged Commission Share on the date of such exchange is waived and the Commission Share issued in such exchange is treated as a continuation of the investment in the Commission Share exchanged for purposes of determining the CDSC payable if such Commission Share issued in the exchange is thereafter redeemed.

  • Permitted Debt Exchange shall have the meaning provided in Section 2.15(a).

  • Permitted Debt Exchange Offer shall have the meaning provided in Section 2.15(a).

  • Permitted Exchange means any of The New York Stock Exchange, The Nasdaq Global Select Market, The Nasdaq Global Market, The Nasdaq Capital Market (or any of their respective successors).

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

  • Permitted Financing means (i) the Company’s issuance of Common Stock and warrants therefore in connection with a merger and/or acquisition or consolidation, (ii) the issuance of shares of Common Stock or warrants therefore in connection with strategic license agreements so long as such issuances are not for the purpose of raising capital, (iii) the Company’s issuance of Common Stock or the issuance or grants of options to purchase Common Stock pursuant to the Company’s stock option plans and employee stock purchase plans as they now exist, and (iv) the issuance of Common Stock upon the exercise or conversion of any securities outstanding on the date hereof.

  • Permitted Issuance means any issuance by the Company of (a) Common Stock on or prior to the date hereof; (b) Common Stock upon exercise of the Warrants; (c) Common Stock upon the conversion or exchange of any shares of any class of Common Stock into another class of Common Stock; (d) Common Stock in connection with any dividend or distribution to the holders of the Common Stock; or (e) Common Stock pursuant to an underwritten offering of Common Stock registered under the Securities Act of 1933, as amended.

  • Permitted Transaction means any transaction involving (i) a Swap that is not a Required Transaction or (ii) a Required Transaction that is a component of a Covered Package Transaction.

  • Permitted Merger shall have the meaning set forth in Section 3.01.

  • Permitted Transactions has the meaning set forth in Section 13(B).

  • Permitted Debt Exchange Notes shall have the meaning provided in Section 2.15(a).

  • Permitted Business Acquisition means any acquisition of all or substantially all the assets of, or all or substantially all the Equity Interests (other than directors’ qualifying shares) not previously held by the Borrower and its Subsidiaries in, or merger, consolidation or amalgamation with, a person or division, line of business or individual facility of a person (or any subsequent investment made in a person or division, line of business or individual facility previously acquired in a Permitted Business Acquisition), if immediately after giving effect thereto: (i) no Event of Default under clause (b), (c), (h) or (i) of Section 7.01 shall have occurred and be continuing or would result therefrom, provided, however, that with respect to a proposed acquisition pursuant to an executed acquisition agreement, at the option of the Borrower, the determination of whether such an Event of Default shall exist shall be made solely at the time of the execution of the acquisition agreement related to such Permitted Business Acquisition; (ii) all transactions related thereto shall be consummated in all material respects in accordance with applicable laws; (iii) [reserved]; (iv) any acquired or newly formed Subsidiary shall not be liable for any Indebtedness except for Indebtedness permitted by Section 6.01; (v) to the extent required by Section 5.11, any person acquired in such acquisition, if acquired by the Borrower or a Domestic Subsidiary, shall be merged into the Borrower or a Subsidiary Loan Party or become upon consummation of such acquisition a Subsidiary Loan Party; and (vi) the aggregate cash consideration in respect of such acquisitions and investments by the Borrower or a Subsidiary Loan Party in assets that are not owned by the Borrower or Subsidiary Loan Parties or in Equity Interests in persons that are not Subsidiary Loan Parties or do not become Subsidiary Loan Parties, in each case upon consummation of such acquisition, shall not exceed, the greater of (x) $40,000,000 and (y) 0.12 times the EBITDA calculated on a Pro Forma Basis for the then most recently ended Test Period (excluding for purposes of the calculation in this clause (vi), (A) any such assets or Equity Interests that are no longer owned by the Borrower or any of its Subsidiaries and (B) acquisitions and investments made at a time when, immediately after giving effect thereto, the Net Total Leverage Ratio on a Pro Forma Basis would not exceed 2.72 to 1.00, which acquisitions and investments shall be permitted under this clause (vi) without regard to such calculation).

  • Permitted Sale means those sales, transfers or assignments permitted by the Credit Agreement.

  • Real estate transaction or "transaction" means an actual or prospective transaction involving a purchase, sale, option, or exchange of any interest in real property or a business opportunity, or a lease or rental of real property. For purposes of this chapter, a prospective transaction does not exist until a written offer has been signed by at least one of the parties.

  • Permitted Issuances means issuances of shares of Common Stock and upon exercise of the warrants and options and other convertible securities, in each case listed on Schedule 1.

  • Permitted Number means one (1) or the number otherwise indicated under a valid license (e.g., volume license) granted by Xxxxxxxx.

  • Permitted Asset Sale means any Asset Sale that is permitted under Section 6.8.

  • Permitted Distribution means any of the following:

  • Permitted Convertible Indebtedness Call Transaction means any Permitted Bond Hedge Transaction and any Permitted Warrant Transaction.

  • Excluded Issuance means an issuance and sale of Qualified Capital Stock of Holdings, to the extent such Qualified Capital Stock is used, or the Net Cash Proceeds thereof shall be, within 45 days of the consummation of such issuance and sale, used, without duplication, to finance Capital Expenditures or one or more Permitted Acquisitions.

  • Exchange Business Day means any Scheduled Trading Day on which the Exchange and each Related Exchange are open for trading during their respective regular trading sessions, notwithstanding any such Exchange or Related Exchange closing prior to its Scheduled Closing Time.

  • Applicable Exchange means the New York Stock Exchange or such other securities exchange as may at the applicable time be the principal market for the Common Stock.