Exception to Investment Restrictions Sample Clauses

Exception to Investment Restrictions. In the event the weightages of shares exceed the limits laid down in Offering Document or the Regulations as a result of the relative movement in the market prices of Investments or through any disinvestments, the Management Company shall bring the exposure within the prescribed limits within three months of the event. However, this restriction shall not apply to any offer of right and bonus shares.
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Exception to Investment Restrictions. 1In the event Exposure limits are exceeded due to corporate actions including taking up rights or bonus issue and owing to appreciation or depreciation in value of any Investment, disposal of any investment or Redemption of Units, the excess exposure shall be regularized in such manner and within such time as specified in the Regulations and prescribed by SECPIn the event the weightages of shares exceed the limits laid down in the Offering Document or the Rules as a result of the relative movement in the market prices of the investments or through any disinvestments, the Management Company shall make its best endeavors to bring the exposure within the prescribed limits within six months of the event. But in any case the Management Company shall not invest further in such shares or sectors while the deviation exists. However, this restriction on further investment shall not apply to any offer of right shares and bonus shares. 1 Pursuant to SECP Letter No. NBFC/MF-RS/NAFAMAF/846/2006 dated November 29, 2006 the Fund has been granted the following two relaxations with respect to the Investment Restrictions: 6.5.1 According to Rule 71 (3) of the Rules, the investment of an open-end fund in any company shall not, at any time, exceed an amount equal to ten per cent of the Net Asset Value of the scheme or ten per cent of issued capital of the investee company. The limit of ten percent (10%) has been relaxed whereby Investment of NMF in any company shall not, at any time, exceed an amount equal to ten percent (10%) of its Net Asset Value or weight of that company in the KSE 30 Index, which ever is higher. Also, investment of the Fund shall not exceed 10% of the issued capital of the investee company. 6.5.2 According to Rule 71 (4) of the Rules (the NBFC Rules), an open-end fund is not permitted to invest more than twenty five percent of the Net Asset Value of the Fund in securities of any one sector as per classification of the stock exchange in which such security is listed, except where relaxation is granted b the SECP. The limit of Twenty Five Percent (25%) has been relaxed whereby NMF shall not invest more than twenty five percent of its Net Asset Value in any one sector (as per the classification of the pertinent stock exchange (s)) or weight of that sector in the KSE 30 Index, which ever is higher.
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Exception to Investment Restrictions. 6.7.1 In the event the weightage of shares exceed the limits laid down in the Offering Document or the Rules as a result of the relative movement in the market prices of the Investments and corporate actions including bonus shares and subscription to right shares, the Investment Advisor shall make its best endeavors to bring the exposure within the prescribed limits within three (3) months of the event. But in any case the Investment Advisor shall not invest further in such shares or sectors while the deviation exists. However, this restriction on purchase shall not apply to any offer of right shares or any such other offering, if the Investment Advisor is satisfied that accepting such offer is in the interest of the Trust provided that the Investment Advisor will make its best endeavors to bring the exposure within the prescribed limits within three (3) months of the take of the rights share or other offering. 6.7.2 The Investment Advisor subject to the approval from the Commission will invest the Capital Protection Segment in a security or instrument that is sufficient to fulfill the capital protection provided in the Offering Document.
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Exception to Investment Restrictions. 6.4.1 In the event the weightage of shares exceed the limits laid down in the Offering Document or the Rules as a result of the relative movement in the market prices of the Investments and corporate actions including bonus shares and subscription to right shares, the Investment Adviser shall make its best endeavors to bring the exposure within the prescribed limits within three (3) months of the event. But in any case the Investment Adviser shall not invest further in such shares or sectors while the deviation exists. However, this restriction on purchase shall not apply to any offer of right shares or any such other offering, if the Investment Advis er is satisfied that accepting such offer is in the interest of the Trust. 6.4.2 The SECP has vide its letter NBFC-II/JD -(R)/AHIM-PSAF/382 dated 29 April 2004 approved certain exceptions to the above restrictions. The Fund may; (a) deposit securities for facilitation or guaranteeing settlement of its own trades and transactions in favor of an exchange or clearing house or national clearing and settlement system on acquiring associate membership of the concerned settlement system. The securities, however, shall not be pledged for any other reason with any other person or entity; (b) the fund may sell its securities in forward contract if the trustee of the fund confirms that securities of such value are available in the portfolio of the fund;
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Exception to Investment Restrictions. 10.5.1 The exposure of the Fund to any person shall not, at any time, exceed an amount equal to ten percent (10%) of total net assets of the fund or ten percent (10%) of issued capital of that person, whichever is lower. Provided that where exposure of a Fund exceeds the limits so specified because of corporate actions including taking up rights or bonus issue, and due to market price increase or decrease in net assets due to redemptions the excess exposure shall be regularized within three (3) months of the breach of limits unless the said period of three (3) months is extended up to another three months by the Commission on an application by the asset management company.
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Exception to Investment Restrictions. 1In the event the weightages of shares exceed the limits laid down in the Offering Document or the Rules as a result of the relative movement in the market prices of the investments or through any disinvestments, the Management Company shall make its best endeavors to bring the exposure within the prescribed limits within six months of the event. But in any case the Management Company shall not invest further in such shares or sectors while the deviation exists. However, this restriction on further investment shall not apply to any offer of right shares and bonus shares.
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Related to Exception to Investment Restrictions

  • Investment Restrictions As described in Fund’s current prospectus and SAI provided by Manager and as agreed to by Sub-Adviser.

  • Certain Restrictions (A) Whenever quarterly dividends or other dividends or distributions payable on the Series A Junior Participating Preferred Stock as provided in Section 2 are in arrears, thereafter and until all accrued and unpaid dividends and distributions, whether or not declared, on shares of Series A Junior Participating Preferred Stock outstanding shall have been paid in full, the Corporation shall not (i) declare or pay dividends on, make any other distributions on, or redeem or purchase or otherwise acquire for consideration any shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series A Junior Participating Preferred Stock; (ii) declare or pay dividends on or make any other distributions on any shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Participating Preferred Stock, except dividends paid ratably on the Series A Junior Participating Preferred Stock and all such parity stock on which dividends are payable or in arrears in proportion to the total amounts to which the holders of all such shares are then entitled; (iii) redeem or purchase or otherwise acquire for consideration shares of any stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Junior Participating Preferred Stock, provided that the Corporation may at any time redeem, purchase or otherwise acquire shares of any such parity stock in exchange for shares of any stock of the Corporation ranking junior (either as to dividends or upon dissolution, liquidation or winding up) to the Series A Junior Participating Preferred Stock; or (iv) purchase or otherwise acquire for consideration any shares of Series A Junior Participating Preferred Stock, or any shares of stock ranking on a parity with the Series A Junior Participating Preferred Stock, except in accordance with a purchase offer made in writing or by publication (as determined by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after consideration of the respective annual dividend rates and other relative rights and preferences of the respective series and classes, shall determine in good faith will result in fair and equitable treatment among the respective series or classes. (B) The Corporation shall not permit any subsidiary of the Corporation to purchase or otherwise acquire for consideration any shares of stock of the Corporation unless the Corporation could, under Paragraph (A) of this Section 4, purchase or otherwise acquire such shares at such time and in such manner.

  • Additional Restrictions In addition to any other restrictions on Transfer contained in this Agreement, in no event may any Transfer of a Partnership Interest by any Partner or any redemption pursuant to Section 8.6 be made without the express consent of the General Partner, in its sole and absolute discretion, (i) to any person or entity who lacks the legal right, power or capacity to own a Partnership Interest; (ii) in violation of applicable law; (iii) of any component portion of a Partnership Interest, such as the Capital Account, or rights to distributions, separate and apart from all other components of a Partnership Interest; (iv) if in the opinion of the General Partner based on the advice of legal counsel, if appropriate, such Transfer would cause a termination of the Partnership for federal or state income tax purposes (except as a result of a redemption of all Partnership Units held by all Limited Partners); (v) if in the opinion of the General Partner based on the advice of legal counsel, if appropriate, such Transfer would cause the Partnership to cease to be classified as a partnership for federal income tax purposes (except as a result of a redemption of all Partnership Units held by all Limited Partners); (vi) if such Transfer requires the registration of such Partnership Interest pursuant to any applicable federal or state securities laws; (vii) if such Transfer would cause the Partnership to become a “publicly traded partnership,” as such term is defined in Section 7704(b) of the Code (provided that this clause (vii) shall not be the basis for limiting or restricting in any manner the exercise of the Redemption Right under Section 8.6 unless, and only to the extent that, outside tax counsel advises the General Partner that, in the absence of such limitation or restriction, there is a significant risk that the Partnership will be treated as a “publicly traded partnership” and, by reason thereof, taxable as a corporation); (viii) if such Transfer would cause the General Partner to own 10% or more of the ownership interests of any tenant of a property held by the Partnership within the meaning of Section 856(d)(2)(B) of the Code; (ix) if such Transfer would result in the General Partner being “closely held” within the meaning of Section 856(h) of the Code; or (x) if in the opinion of the General Partner based on the advice of legal counsel, if appropriate, such Transfer would adversely affect the ability of the General Partner to continue to qualify as a REIT or subject the General Partner to any additional taxes under Sections 857 or 4981 of the Code.

  • Restriction on Transferability Prior to vesting and delivery of the Shares, neither the mPRSUs, nor the Shares or any beneficial interest therein, may be sold, transferred, pledged, assigned, or otherwise alienated at any time. Any attempt to do so contrary to the provisions hereof shall be null and void. Notwithstanding the above, distribution can be made pursuant to will, the laws of descent and distribution, and if provided by the Administrator, intra-family transfer instruments, or to an inter vivos trust, or as otherwise provided by the Administrator. The terms of this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Participant.

  • ACCOUNT RESTRICTIONS In order to receive and maintain a Secured VISA Platinum Rewards Credit Card, You agree to give Us a specific pledge of shares which will equal 105.00% of Your approved Credit Limit. In the event that You default on Your Secured VISA Platinum Rewards Credit Card, We may apply these shares toward the repayment of any amount owed on such Credit Card. You may cancel Your Secured VISA Platinum Rewards Credit Card at any time by paying any amounts owed on such Card. To be certain that Your entire balance and all advances are paid, any shares pledged may not be available to You for 30 days after You have cancelled and any outstanding balance is paid in full. LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for which You are approved. Unless You are in default, the Credit Limits established for You will generally be self-replenishing as You make payments.