Repurchase Policy definition

Repurchase Policy means the fundamental policy adopted by the Fund to make quarterly repurchase offers pursuant to Rule 23c-3 of the 1940 Act, as such rule may be amended from time to time, for between 5% and 25% of the Common Shares outstanding at net asset value.
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Examples of Repurchase Policy in a sentence

  • Developer shall also pay all costs and expenses of such Repurchase Closing, including transfer taxes, escrow charges, recording fees and the premiums for such Repurchase Policy and shall bear the cost of updating or commissioning an ALTA survey to the extent necessary to provide such Repurchase Policy.

  • In the event that the proceeds of the Repurchase Policy exceed the amount necessary to purchase all of the equity of Unnold, the excess shall be paid directly to Unnold's estate in cash.

  • In the event of Unnold's death, upon the request of his estate or beneficiaries with six (6) months of such death, III will be required to buy the equity of III owned by Unnold to the extent that the proceeds of the Repurchase Policy are sufficient to purchase such equity at its fair market value (as determined below).

  • In the event of Malo▇▇▇'▇ ▇▇▇th, upon the request of his estate or beneficiaries with six (6) months of such death, III will be required to buy the equity of III owned by Malo▇▇▇ ▇▇ the extent that the proceeds of the Repurchase Policy are sufficient to purchase such equity at its fair market value (as determined below).

  • III shall maintain a key-man life insurance policy on the life of Unnold in the aggregate amount of at least $1,000,000, the proceeds of which shall be payable directly to III, and an additional life insurance policy in the aggregate of $1,000,000 (the "Repurchase Policy") which shall be held in a trust and which proceeds shall be used for the purpose of funding the purchase by III of the equity of III then owned by Unnold pursuant to Section 7(a) hereof.

  • If Malo▇▇▇'▇ ▇▇▇ate or beneficiaries do not exercise their rights hereunder, the proceeds of the Repurchase Policy shall be payable directly to III.

  • If Unnold's estate or beneficiaries do not exercise their rights hereunder, the proceeds of the Repurchase Policy shall be payable directly to III.

  • In the event that the proceeds of the Repurchase Policy exceed the amount necessary to purchase all of the equity of Malo▇▇▇, ▇▇e excess shall be paid directly to Malo▇▇▇'▇ ▇▇▇ate in cash.

  • III shall maintain a key-man life insurance policy on the life of Malo▇▇▇ ▇▇ the aggregate amount of at least $1,000,000, the proceeds of which shall be payable directly to III, and an additional life insurance policy in the aggregate of $1,000,000 (the "Repurchase Policy") which shall be held in a trust and which proceeds shall be used for the purpose of funding the purchase by III of the equity of III then owned by Malo▇▇▇ ▇▇▇suant to Section 7(a) hereof.

  • Pursuant to the terms of the Periodic Unit Repurchase Policy which was adopted by the Fund's investors during 1993, the Fund annually offers to repurchase from investors, up to 7.5% of its outstanding Units for an amount equal to the current net asset value per Unit, net of a 2% fee retained by the Fund to offset expenses incurred in connection with the repurchase offer.

Related to Repurchase Policy

  • Repurchase As defined in Section 2.03(a) of this Agreement.

  • Repurchased Loan has the meaning set forth in Section 2.3(a).

  • Repurchase Payment for any Repurchased Receivable as of the last day of any Collection Period, means the sum of the Principal Balance thereof as of the beginning of such Collection Period plus interest accrued thereon through the due date for the Obligor’s payment in such Collection Period at the related APR, after giving effect to the receipt of monies collected on such Repurchased Receivable, if any, during such Collection Period.

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Repurchase Assets has the meaning assigned thereto in Section 8 hereof.