Issue of Units Sample Clauses
The 'Issue of Units' clause defines the process and conditions under which new units or shares in an entity, such as a trust or fund, may be created and allocated to investors. Typically, this clause outlines who has the authority to issue units, the procedures for application and payment, and any limitations or requirements, such as board approval or compliance with regulatory standards. By establishing clear rules for the creation and distribution of units, this clause ensures transparency and fairness in the expansion of ownership interests, preventing disputes and maintaining the integrity of the entity’s capital structure.
Issue of Units. Units shall be issued on the acceptance deadline for unit transactions in accordance with Appendix A "Overview of the Fund" at the net asset value per unit of the corresponding unit class of the UCITS, plus the possible due issue premium and plus any possible taxes and duties. The units are not certificated as securities. Subscription applications must be submitted to the Custodian at the latest by the acceptance deadline. If a subscription application is received after the acceptance deadline, then it shall be reserved for the following issue date. In the case of applications placed with distribution agents in Liechtenstein and abroad, earlier deadlines for the subscriptions may be set to ensure the punctual forwarding of these applications to the Custodian in Liechtenstein. These deadlines may be obtained from the individual distribution agents. Information about the issue date, the acceptance deadline as well as the level of the possible due maximum issue premium is set out in Appendix A "Overview of the Fund". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company shall ensure that the issue of units is settled on the basis of a net asset value per unit that is unknown to the investor at the time of the application (forward pricing). All taxes and duties incurred in conjunction with the issue of units shall also be charged to the investor. If units are ac- quired through banks that have not been entrusted with the distribution of the units, it shall not be possible to exclude the possibility that such banks may impose additional transaction charges. If the payment is made in a currency other than the reference currency, the equivalent sum derived from the conversion of the payment currency into the reference currency, less any possible charges, shall be used to acquire units. The minimum investment that must be held by an investor in a specific unit class is set out in Appendix A "Overview of the Fund". Contributions in kind are permitted and shall be assessed and evaluated by the Management Company on the basis of objective criteria. The procedures and the principles applicable to the provision of contributions in kind are described in greater detail in the Prospectus. The intrinsic value of the contribution in kind must be assessed by the Auditor and the cost of this assessment may not be charged to the assets of the UCITS. The Custodian and/o...
Issue of Units. 12 Section 2.04. Form of Certificates........................................................................12 Section 2.05. Deposit of Additional Securities............................................................12 Section 2.06. Register of Units...........................................................................14
Issue of Units. Initially, Units may be purchased on the Initial Subscription Day at the Initial Subscription Price. Thereafter, Units are available at the Subscription Price on each Subscription Day.
Issue of Units. Initially, Units may be purchased on the Initial Subscription Day at the Initial Subscription Price. Thereafter, Units are available at the Subscription Price on each Subscription Day. The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class.
Issue of Units. Units of a sub-fund may be acquired in accordance with Appendix A "Overview of the sub-fund" at the net asset value per unit of the corresponding unit class of the corresponding sub-fund, plus the possible due issue premium and plus any possible taxes and duties. The units are not certificated as securities. Subscription applications must be submitted to the Custodian at the latest by the acceptance deadline. If a subscription order is received after the acceptance deadline, it shall be reserved for the following valuation date. In the case of orders placed with distribution agents in Liechtenstein and abroad, earlier deadlines for the subscription of orders may be set to ensure the punctual forwarding of these orders to the Custodian in Liechtenstein. These deadlines may be obtained from the individual distribution agents. Information about the issue date, the valuation interval, the acceptance deadline as well as the level of the possible due maximum issue premium is set out in Appendix A "Overview of the sub-fund". The payment must be received within two bank working days following the valuation date on which the issue price of the units was stipulated. The Management Company shall ensure that the issue of units is settled on the basis of a net asset value per unit that is unknown to the Investor at the time of the application (forward pricing). All taxes and duties incurred in conjunction with the issue of units shall also be charged to the Investor. If units are ac- quired through banks that have not been entrusted with the distribution of the units, it shall not be possible to exclude the possibility that such banks may impose additional transaction charges. If the payment is made in a currency other than the reference currency, the equivalent sum derived from the conversion of the payment currency into the reference currency, less any possible charges, shall be used to acquire units. The minimum investment that must be held by an Investor in a specific unit class is set out in Appendix. A, "Overview of the sub-fund". The minimum investment may be waived at the complete discretion of the Management Company. The Management Company may furthermore also decide to suspend the issue of units on a complete or temporary basis if new investments might hinder the attainment of the investment objective. At the request of an Investor, units may with the approval of the Management Company also be subscribed in return for the assignment of investments at the resp...
Issue of Units.
23.1 The Management Company shall be responsible for obtaining all requisite consents and approval for the offer and issue of Units and for the issue, publication or circulation of the Offering Document.
23.2 The Units shall be offered through the authorized offices or branches of the Management and Distribution Company (ies) on all Subscription Days during the Initial Offering Period, subject to Clause 24 of this Trust Deed.
23.3 Application for issuance of Units shall be made by completing the prescribed application form and submitting it with the payment by cheque, pay order or bank draft (crossed A/C payee only). The Management Company may make arrangements to accept payments via credit cards, debit cards, auto debit instructions or in such form (other than through cash or any bearer instruments) as is prescribed by the Management Company, at the Authorized Branches of the Management Company or officers of any Distribution Company on any Subscription Day. Payment in cash shall not be accepted. No person other than the Authorized Branches of the Management Company or officers of any Distribution Company is authorized to accept the application for issuance of Units. The Distribution Company or Transfer Agent shall verify the particulars given in the application for issue of Units and after ensuring that the documentation required is complete in all aspects forward the application to the Transfer Agent for further processing. Any charge(s) on account of payments accepted via credit cards shall be charged to the applicant in the offer price and it shall be disclosed in Application Form for Purchase of Units.
23.4 Each Holder shall only be liable to pay the Offer Price of the Units subscribed by him in the manner provided in Clause 24 and no further liability shall be imposed on him in respect of any Units held by him. The Units shall be issued only against the receipt of full payment.
23.5 An application for issuance of Units shall be deemed to have been made in accordance with the provisions of the Offering Document or a Supplementary Offering Document, if such documents prescribe automatic issuance of Units under certain circumstances.
23.6 The Management Company may make arrangements to accept issue requests through electronic, IVR (Interactive Voice Response) or other means.
23.7 The Management Company with the consent of the Trustee make arrangements through branches of banks to facilitate the issue and redemption of Units. A request for issue/ rede...
Issue of Units. 23.1 The Management Company shall be responsible for obtaining all requisite consents and approvals for the offer and issue of Units and for the issue, publication or circulation of the Offering Documents.
23.2 Except as provided herein the Units shall be offered at the authorized offices or branches of the Distribution Company on all Dealing Days.
23.3 Application for issuance of Units shall be made by completing the prescribed application form and submitting it with the payment by cheque or bank draft, pay order, credit card etc. in favor of the Trustee and crossed “Account Payee Only” at the authorized branch or office of any Distribution Company. The application for issuance of the Units and the specimen signature of each Holder shall be retained by the relevant Distribution Company with copies supplied to the Transfer Agent, if so required by the Management Company. The Distribution Company shall verify the particulars given in the application for issuance of Units and the documents submitted therewith and ensure that the signature of any Holder or joint Holder to any document required to be signed by him under or in connection with the application for issue of Units are verified to reasonable satisfaction.
23.4 Each Unit Holder(s) shall be liable to pay the Purchase (Offer) Price of the Units subscribed by him and no further liability shall be imposed on him in respect of any Units held by him. The Units shall be issued in fractions upto four decimal points, only against receipt of full payment.
23.5 An application for purchase of Units shall be deemed to have been made in accordance with the provisions of the Offering Document, if the Account Holder / Unit Holder authorize automatic issuance of Units under certain circumstances.
Issue of Units. 14 (A) The Manager shall have the exclusive right to create and issue Units that constitute the Trust on behalf of the Trust. Units shall be issued and created only on a Dealing Day. The Manager shall not be bound to accept any application for Units having a total face value of less than Rupees One Thousand (Rs. 1,000/-). Notwithstanding the above, the Manager shall have an absolute discretion to accept or not to accept in whole or in part any application for Units. The Units shall be issued at the Issue Price. No fractions of Units shall be issued. Provided however that the Manager may in computing the number of Units to be issued in any given instance, issue Units that are rounded off to two decimals or as may be otherwise decided on by the Manager.
Issue of Units. By executing the Reference Trust Agreement, the Trustee will thereby acknowledge receipt of the deposit relating to the Trust to which such Reference Trust Agreement relates, referred to in Section 2.01, and simultaneously with the receipt of said deposit, will either (a) record on its books for the account of the Depositor the aggregate number of Units of the Trust issued in exchange therefor or (b) execute Certificates substantially in the form above recited representing the ownership of all Units of the Trust, as specified in Part II of the Reference Trust Agreement and deliver same to the Depositor. The number of Units may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, which revised number of Units shall be recorded by the Trustee on its books. The Trusts created by this Indenture are separate and distinct trusts for all purposes and the assets of one such trust may not be commingled with the assets of any other nor shall the expenses of any such trust be charged against the other. The Units or Certificates therefor representing the ownership of a fractional undivided interest in one Trust shall not be exchangeable for Units or certificates representing the ownership of an undivided fractional interest in any other.
Issue of Units. 5 Section 2.4. Certain Contracts Satisfactory.............................................................6 Section 2.5. Deposit of Additional Securities...........................................................6