Compact Membership Status Sample Clauses

Compact Membership Status. ‌ I employ survival analysis to test the hypothesis, treating the time it takes for a state to formally join the compact as the “survival time.” Obviously, not all states have joined the compact at the time of writing (otherwise this would be a rather futile undertaking on my part). The treatment of non-compacting states, then, is of great importance in creating a robust model. Assume that T is a continuous, non-negative random variable that represents the time until the implementation of the NPVC. Assume T has some probability density function (PDF) f (t) and a cumulative density function (CDF) F (t). Standard survival analysis holds then that the probability of “surviving,” that is, not adopting the NPVC, one unit of time before t is given by S(t) = P (T ≥ t) = 1 − F (t) = ∫ ∞ f (x) dx (4.1) This conception of S(t) creates several potential problems. Most importantly for my pur- poses, the underlying assumption in model above is that the “event of interest,” joining the NPVC, “is bound to occur,” that as t → ∞, S(t) → 0 (Rodr´ıguez 2007, 4). While it is possible to conduct survival analysis with an uncertain event, “the waiting time T could be undefined (or infinite) and thus not a proper random variable” as its PDF would not integrate to one (Rodr´ıguez 2007, 4). In order to avoid such complications, this analysis is limited only to those states that have already joined the NPVC, guaranteeing that the outcome of interest occurs for each state. Table 4.1 shows each of the current signatories to the NPVC and the year in which they joined. Table 4.1: Current Signatories to the NPVC Continued on next page 6 Massachusetts August 2010 7 District of Columbia December 2010 8 Vermont April 2011 9 California August 2011 10 Rhode Island July 2013 11 New York April 2014 12 Connecticut May 2018 13 Colorado March 2019 14 Delaware March 2019 15 New Mexico April 2019 16 Oregon June 2019
Sample 1
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Related to Compact Membership Status

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The notice and form of election to be sent to Unit holders in respect of any redemption and purchase of Units of a New Series as provided in this section shall be in such form and shall be sent at such time or times as the Depositor shall direct the Trustee in writing and the Trustee shall have no responsibility therefor. The Distributions Agent acts solely as disbursing agent in connection with purchases of Units pursuant to this Section and nothing herein shall be deemed to constitute the Distribution Agent a broker in such transactions All Units so tendered by a Unit holder (a "Rollover Unit holder") shall be redeemed and cancelled during the Special Redemption and Liquidation Period on such date or dates specified by Depositor. Subject to payment by such Rollover Unit holder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made in kind pursuant to Section 5.02 by distribution of cash and/or Securities to the Distribution Agent on the redemption date equal to the net asset value (determined on the basis of the Trust Fund Evaluation as of the redemption date in accordance with Section 4.01) multiplied by the number of Units being redeemed (herein called the "Rollover Distribution"). Any Securities that are made part of the Rollover Distribution shall be valued for purposes of the redemption distribution as of the redemption date. All Securities included in a Unit holder's Rollover Distribution shall be sold by the Distribution Agent during the Special Redemption and Liquidation Period specified in the Prospectus pursuant to the Depositor's direction, and the Distribution Agent shall, unless directed otherwise by the Depositor, employ the Depositor as broker in connection with such sales. For such brokerage services, the Depositor shall be entitled to compensation at its customary rates, provided however, that its compensation shall not exceed the amount authorized by applicable securities laws and regulations. The Depositor shall direct that sales be made in accordance with the guidelines set forth in the Prospectus under the heading "Special Redemption, Liquidation and Investment in a New Trust." Should the Depositor fail to provide direction, the Distribution Agent shall sell the Securities in the manner provided in the prospectus. The Distribution Agent shall have no responsibility for any loss or depreciation incurred by reason of any sale made pursuant to this Section. Upon completion of all sales of Securities included in the Rollover Unit holder's Rollover Distribution, the Distribution Agent shall, as agent for such Rollover Unit holder, enter into a contract with the Depositor to purchase from the Depositor Units of a New Series (if any), at the Depositor's public offering price for such Units on such day, and at such reduced sales charge as shall be described in the prospectus for such Trust. 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Any cash balance remaining after such purchase shall be distributed within a reasonable time to the Rollover Unit holder by check mailed to the address of such Unit holder on the registration books of the Trustee. Units of a New Series will be uncertificated unless and until the Rollover Unit holder requests a certificate. Any cash held by the Distribution Agent shall be held in a non-interest bearing account which will be of benefit to the Distribution Agent in accordance with normal banking procedures. Neither the Trustee nor the Distribution Agent shall have any responsibility or liability for loss or depreciation resulting from any reinvestment made in accordance with this paragraph, or for any failure to make such reinvestment in the event the Depositor does not make Units available for purchase. (b) Notwithstanding the foregoing, the Depositor may, in its discretion at any time, decide not to offer any new Trust Series in the future, and if so, this Section

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