Allocation of Units. All Contributions net of Premium Allocation Charges will be allocated to the Unit Linked Funds in the Allocation Proportion specified in the Schedule. All Contributions allocated to the Unit Linked Funds will be used to buy Units in the chosen Unit Linked Funds by using the Net Asset Value (NAV) provided that: If the Contribution is received by local cheque/DD (payable at par where the Contributions is received) on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the Contribution is received by local cheque/DD (payable at par where the Contribution is received) after 15:00 hrs on a Business Day, the closing NAV of next Business Day shall be used. If the Contribution is received by any other authorized mode, the closing NAV of Business Day on which such payment is realised shall be used. However, the first Contribution received by the Company along with the Application will be used to buy Units in the Unit-Linked Funds as per the Group Policyholder‟s Premium Allocation Instruction using the NAV of the respective Unit Linked Funds, as applicable on the day the Application is completed and results into the Group Policy. Net Asset Value (NAV) for each Unit Linked Fund offered by the Company is computed on a daily basis, i.e., on every Business Day. If there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done. 5.3 Redemption of Units Requests for payment of benefits or surrender or the Group Policy, switching of Units or re-direction of Contribution shall be processed by cancellation of Units held in the Account by using the NAV, provided that: If the request is received on or before 15:00 hrs on a Business Day, the same day‟s closing NAV shall be used. If the request is received after 15:00 hrs on a Business Day, the closing NAV of the next Business Day shall be used. The valuation is done on a daily basis, i.e. on every Business Day. However if there is no valuation done on a Business Day due to market closure, then the valuation date will be the date when the next valuation is done.
Allocation of Units. The allocation of Units among the Managing Dealer and any such other Soliciting Dealers shall, subject to the terms and conditions herein set forth, be made by the Partnership, with approval of the Managing Dealer, in their sole discretion. The Partnership reserves the right to notify each Sales Agent by telegram or by other means of the number of Units reserved for sale for each Sales Agent. Such Units will be reserved for sale until the time specified in such notification. Sales of any reserved Units after the time specified in the notification or any requests for additional Units will be subject to rejection by the Partnership, in whole or in part.
Allocation of Units. Amounts are added to your Plan Account Value in respect of each Asset by the creation of additional Units in respect of that Asset to reflect the amount of your Asset Choices allocated to that Asset. The number of Units will be calculated at the Offer Price of the Underlying Asset at the next appropriate Valuation Day or using the prices available as soon as reasonably practicable may be obtained from or published by Metis, and such Units to be created:
(a) in the case of new Asset Choices being allocated, by dividing the Asset Choices allocated to such Asset;
(b) in the case of Asset Switch, by dividing the amount of the Asset Switch to such Asset.
Allocation of Units. Upon receipt of property transferred to the Fund, the Trustee shall determine the number of Fund Units allocable to such property pursuant to Section
Allocation of Units. As of the Effective Date, all issued and outstanding Units of the Company are held by the Members as set forth on the cap table of the Company as recorded in the books and records of the Company.
Allocation of Units. Each Member shall, upon making his, her or its required Capital Contribution, be allocated Units in the Company as set forth on Schedule 1. As of the date hereof, the Company intends on issuing a total of 500,000 Class A Units, as listed on Schedule 1; 124,999 Class B Units, as listed on Schedule 1, and the Company has reserved for issuance, an additional 70,000 Class C Units to management and other service providers of the Company Each class of Units shall have the rights as described in this Agreement. Except as otherwise provided in this Agreement or required by law, the holders of the Class C Units shall not hold any voting rights. The Board shall promptly amend the Register from time to time to reflect the admission or withdrawal of Members, the sale, grant, issuance or redemption of Units or the receipt of additional Capital Contributions, and any such amendment shall be effective as of the date of the event necessitating such amendment. The Company may (if elected by the Board) issue certificates representing the Units (“Certificated Units”). The Company may issue fractional Units. Units shall only be issued in compliance with all applicable securities laws and, if applicable, pursuant to an exemption from the prospectus and registration requirements of securities laws.
Allocation of Units. The allocation of Initial Units and Accumulation Units to the Initial Account and Accumulation Account respectively in respect of Regular Contributions and Additional Contributions will be made in accordance with the terms and conditions herein. Except otherwise provided herein, any applicable charges arising from or in respect of the Plan will be paid from the Regular Contributions or Additional Contributions before allocation of the Units. The number of Units to be cancelled will be calculated at the Offer Price of the Underlying Asset at the next appropriate Valuation Day or by using the prices available to Metis and such Units will be allocated in accordance with your latest Asset Choices selection.
Allocation of Units. Each Non-Purchasing Member shall have the right to sell a portion of its Units pursuant to the Transaction Offer which is equal to or less than the product obtained by multiplying the total number of Offered Units available for sale to the Buyer by a fraction, the numerator of which is the total number of Units owned by such Non-Purchasing Member and the denominator of which is the total number of Units held by all Non-Purchasing Members who have submitted a Co-Sale Acceptance and the Transferring Member, in each case as of the date of the Offer Notice, subject to increase as hereinafter provided. If any Non-Purchasing Member does not elect to sell the full amount of such Units which such Non-Purchasing Member is entitled to sell pursuant to this Section 7.4(d), then any Non-Purchasing Members who have elected to sell Units shall have the right to sell, on a pro-rata basis (based on the number of Units held by each such Non-Purchasing Member) with any other Non-Purchasing Members and up to the maximum number of Units stated in each such Non-Purchasing Member’s Co-Sale Acceptance Notice, any Units not elected to be sold by such Non-Purchasing Member, but that the Non-Purchasing Member was entitled to sell under this Section 7.4(d).
Allocation of Units. Any Contribution received under this Group Policy will be converted into Units based on the Net Asset Value per Unit prevailing on the date of allocation of Units, and credited to the Group Policy Holder’s Account. The unit allocations may be made up to 1/10000th of a unit or such other fraction as the company may, in its sole discretion, decide from time to time. The nominal value of the Units is Rs.10 each.
Allocation of Units. The allocation of Units among the any Soliciting Dealers shall, subject to the terms and conditions herein set forth, be made by the Pool, in its sole discretion. The Pool reserves the right to notify each Sales Agent by telegram, fax or by other means of the number of Units reserved for sale for each Sales Agent. Such Units will be reserved for sale until the time specified in such notification. Sales of any reserved Units after the time specified in the notification or any requests for additional Units will be subject to rejection by the Pool, in whole or in part.
