Fund Merger definition

Fund Merger means (A) with respect to each ’40 Act Management Fund which is an open-end Fund, the merger or reorganization of such Fund with and into a newly created “shell” fund which is a series of one of the Delaware statutory trusts listed on Section 1.01(a) of the Buyer Disclosure Schedule, it being understood and agreed that as a result of such merger or reorganization, (i) the board of trustees of such surviving series fund shall consist of those persons set forth on Section 1.01(a) of the Buyer Disclosure Schedule and (ii) such surviving series fund shall become (or shall already be) party to a New Advisory Contract with a Subsidiary of Buyer, such New Advisory Contract to be on terms substantially comparable (but having the same advisory and same aggregate non-advisory fees) to those of such Fund’s Existing Advisory Contract as in effect on the date hereof and (B) with respect to each Fund that is Registered with any Government Entity as an investment fund (or the equivalent) and is not a ’40 Act Management Fund, a Japan Fund or a UIT Fund, the merger of such Fund (or a similar appropriate conversion or consolidation of such Fund or its assets and liabilities) with and into a newly created “shell” fund, it being understood and agreed that such surviving fund shall become (or shall already be) party to a New Advisory Contract with a Subsidiary of Buyer, such New Advisory Contract to be on terms substantially comparable (but having the same advisory and same aggregate non-advisory fees) to those of the applicable Existing Advisory Contract in effect on the date hereof.

Fund Merger means, with respect to each 40 Act ETF Fund, the merger or reorganization of such 40 Act ETF Fund with and into the respective Buyer Fund Series set forth on ‎Section 1.01(a) of the Buyer Disclosure Schedule pursuant to an agreement and plan of reorganization substantially similar to the Form of Fund Reorganization Agreement, it being understood and agreed that as a result of such merger or reorganization, (i) the board of trustees of such surviving Buyer Fund Series shall consist of the members of the board of trustees of such Buyer Fund immediately prior to such merger or reorganization, and (ii) such surviving Buyer Fund Series shall become (or shall already be) party to a New ETF Contract with a Subsidiary of Buyer, such New ETF Contract to be on terms substantially comparable (but having the same advisory fee and same aggregate non-advisory fees) to those of such ETF Fund’s Existing ETF Contract as in effect on the date hereof.

Fund Merger means, with respect to each Fund, the reorganization of such Fund with and into the respective Buyer Fund set forth on Schedule 1.02 pursuant to a Fund Reorganization Agreement, it being understood and agreed that as a result of such reorganization, the board of trustees of such surviving Buyer Fund shall consist of the members of the board of trustees of such Buyer Fund immediately prior to such reorganization.

Examples of Fund Merger in a sentence

• Conditions for the Fund merger With the approval of BaFin, all Fund assets may be transferred to an- other existing investment fund or an investment fund newly estab- lished through the merger which must comply with the requirements for a UCITS and is launched in Germany or in another EU or EEA state.

• Investors' rights in the event of a Fund merger Investors have up to five working days before the scheduled transfer date either to redeem their shares at no additional cost, apart from the costs to cover the liquidation of the Fund, or to exchange their shares for shares in another open-ended retail investment fund also under the management of the Company or a company within the same group and whose investment principles are similar to those of the Fund.

• In certain circumstances, instead of you approving a Fund merger, the Independent Review Committee has been permitted under securities legislation to approve a Fund merger.

• Investors' rights in the event of a Fund merger Investors have up to five working days before the scheduled transfer date either to redeem their units at no additional cost, apart from the costs to cover the liquidation of the Fund, or to exchange their units for units in another open-ended retail investment fund also under the management of the Company or a company within the same group and whose investment principles are similar to those of the Fund.

• He was sceptical that the Pension Fund merger project was desirable or achievable, and experience suggested that it would create its own bureaucracy, which would negate any benefits or savings.

• In those circumstances, you will receive written notice of any proposed Fund merger at least 60 days prior to the merger.

• Example appendix 6: Fund merger and spin-off (6.8) 8.3.8 Glossary1 Accrued income – When interest bearing securities are transferred from one party to anoth- er, the sale agreement specifies which of the two parties will receive the next interest pay- ment.

• Reallocations made based on a Fund merger, substitution or liquidation also do not count toward this transfer limit.

• Fund merger will have no immediate effect on funding deficits but the incurring of set up and transition costs could reduce overall net asset values slightly.

• Fund merger would strengthen our deposit insurance system by diversifying risks, reducing fund exposure to the largest institutions, eliminating possible inequities arising from premium disparities, and reducing regulatory burden.

More Definitions of Fund Merger

Fund Merger means, with respect to each U.S. Company Fund other than the Company Co-Branded Fund, the merger or reorganization of such U.S. Company Fund with and into a newly created “shell” Buyer Fund formed for the purpose of effecting the applicable Fund Merger, pursuant to an agreement and plan of reorganization in customary form, it being understood and agreed that as a result of such merger or reorganization, (i) the board of trustees of such surviving Buyer Fund shall consist of the members of the board of trustees of such Buyer Fund immediately prior to such merger or reorganization and such other persons as may be selected by the board of trustees of the Buyer Fund in its sole discretion, (ii) such surviving Buyer Fund shall become (or shall already be) party to both an Advisory Agreement and Administrative Services Agreement with a Subsidiary of Buyer, such agreements collectively to obligate the Subsidiary of Buyer to provide substantially similar services, on substantially similar advisory and non-advisory terms (and net fee terms no less favorable to the applicable investment adviser than) contained in the advisory agreement in effect for the applicable U.S. Company Fund that will merge into such Buyer Fund, and (iii) for two (2) years from the closing date of the Fund Merger, such advisory and non-advisory fee terms shall be no less favorable to such surviving Buyer Fund than the fee terms in effect on the closing date of the Fund Merger for each applicable U.S. Company Fund that merged into such Buyer Fund (after giving effect to any applicable fee waivers and/or reimbursement arrangements in effect on such closing date).

Fund Merger means the incorporation of one open-ended fund or several open-ended funds (hereinafter referred to as merged funds) into another open-ended fund (hereinafter referred to as surviving fund) by transferring all assets, rights and legal interests, debts and obligations of merged funds to merging funds, as well as ending the existence of merged funds.