Net Asset Value Distributions Redemptions Transfers Sample Clauses

Net Asset Value Distributions Redemptions Transfers. Section 1. DETERMINATION OF NET ASSET VALUE, NET INCOME AND DISTRIBUTIONS. (a) Subject to Article III, Section 6 hereof, the Board of Trustees shall have the power to determine from time to time the offering price for authorized, but unissued, Shares of beneficial interest of the Trust or any Series or Class thereof, respectively, that shall yield to the Trust or such Series or Class not less than the net asset value thereof, in addition to any amount of applicable sales charge to be paid to the Principal Underwriter or the selling broker or dealer in connection with the sale of such Shares, at which price the Shares of the Trust or such Series or Class, respectively, shall be offered for sale, subject to any other requirements or limitations of the 1940 Act. (b) Subject to Article III, Section 6 hereof, the Board of Trustees may, subject to the 1940 Act, prescribe and shall set forth in the By-Laws, this Declaration of Trust or in a resolution of the Board of Trustees such bases and time for determining the net asset value per Share of the Trust or any Series or Class thereof, or net income attributable to the Shares of the Trust or any Series or Class thereof or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class thereof, as it may deem necessary or desirable, and such dividends and distributions may vary between the Classes to reflect differing allocations of the expenses of the Trust between such Classes to such extent and for such purposes as the Trustees may deem appropriate. (c) The Shareholders of the Trust or any Series or Class, if any, shall be entitled to receive dividends and distributions, when, if and as declared by the Board of Trustees with respect thereto, provided that with respect to Classes, such dividends and distributions shall comply with the 1940 Act. The right of Shareholders to receive dividends or other distributions on Shares of any Class may be set forth in a plan adopted by the Board of Trustees and amended from time to time pursuant to the 1940 Act. No Share shall have any priority or preference over any other Share of the Trust with respect to dividends or distributions paid in the ordinary course of business or distributions upon dissolution of the Trust made pursuant to Article VIII, Section 1 hereof; provided however, that (i) if the Shares of the Trust are divided into Series thereof, no Share of a particular Series shall have any priority or preference over any o...
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Net Asset Value Distributions Redemptions Transfers. 22 Section 1. Determination of Net Asset Value, Net Income and Distributions 22 Section 2. Redemptions at the Option of a Shareholder 24 Section 3. Redemptions at the Option of the Trust 26 Section 4. Transfer of Shares 26 Article VII
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Net Asset Value Distributions Redemptions Transfers. 22 Section 1. Determination of Net Asset Value, Net Income and Distributions..
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Net Asset Value Distributions Redemptions Transfers. DETERMINATION OF NET ASSET VALUE, NET INCOME AND DISTRIBUTIONS.............................................22 SECTION 2. REDEMPTIONS AT THE OPTION OF A SHAREHOLDER.................23 SECTION 3. REDEMPTIONS AT THE OPTION OF THE TRUST.....................25 SECTION 4.
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Net Asset Value Distributions Redemptions Transfers. 22 Section 1. Determination of Net Asset Value, Net Income and Distributions 22 Section 2. Redemptions at the Option of a Shareholder 24 Section 3. Redemptions at the Option of the Trust 25 Section 4. Transfer of Shares 25 ARTICLE VII. LIMITATION OF LIABILITY AND INDEMNIFICATION OF AGENT 25 Section 1. Limitation of Liability 25 Section 2. Indemnification 26 Section 3. Insurance 27 Section 4. Derivative Actions 28 ARTICLE VIII. CERTAIN TRANSACTIONS 28 Section 1. Dissolution of Trust or Series 28 Section 2. Merger or Consolidation; Conversion; Reorganization 29 Section 3. Master Feeder Structure 31 Section 4. Absence of Appraisal or Dissenters’ Rights 31 ARTICLE IX. AMENDMENTS 31 Section 1. Amendments Generally 31 ARTICLE X. MISCELLANEOUS 32 Section 1. References; Headings; Counterparts 32 Section 2. Applicable Law 32 Section 3. Provisions in Conflict with Law or Regulations 33 Section 4. Statutory Trust Only 33 Section 5. Use of the Name “PENN Capital” 33 THIS AGREEMENT AND DECLARATION OF TRUST is made as of this 29th day of August, 2014, by the Trustees hereunder and by the holders of Shares to be issued by PENN Capital Funds Trust (the “Trust”), as hereinafter provided.
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Net Asset Value Distributions Redemptions Transfers. Determination of Net Asset Value, Net Income and Distributions.................. 23 Section 2. Redemptions at the Option of a Shareholder.................................................... 25 Section 3. Redemptions at the Option of the Trust........................................................... 26
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Net Asset Value Distributions Redemptions Transfers. 23 i # 3241479 v. 8
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Net Asset Value Distributions Redemptions Transfers 
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Related to Net Asset Value Distributions Redemptions Transfers

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.