{"component": "clause", "props": {"groups": [{"samples": [{"hash": "eGXGXZhNXFb", "uri": "/contracts/eGXGXZhNXFb#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (MML Series Investment Fund II)", "score": 19.0, "published": true}, {"hash": "ckPgkzpefX1", "uri": "/contracts/ckPgkzpefX1#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (MML Series Investment Fund II)", "score": 19.0, "published": true}, {"hash": "cQjgMaYQ78u", "uri": "/contracts/cQjgMaYQ78u#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (MML Series Investment Fund II)", "score": 19.0, "published": true}], "snippet": "On the Exchange Date, Acquiring Fund will deliver to Acquired Fund a number of full and fractional Merger Shares having an aggregate net asset value equal to the value of assets of Acquired Fund attributable to shares of Acquired Fund transferred to Acquiring Fund on such date less the value of the liabilities of Acquired Fund attributable to the shares of Acquired Fund assumed by Acquiring Fund on that date. <![if !supportLists]>(a) <![endif]>The net asset value of the Merger Shares to be delivered to Acquired Fund, the value of the assets attributable to the shares of Acquired Fund and the value of the liabilities attributable to the shares of Acquired Fund to be assumed by Acquiring Fund shall in each case be determined as of the Valuation Time. <![if !supportLists]>(b) <![endif]>The net asset value of the Merger Shares, and the value of the assets and liabilities of the shares of Acquired Fund shall be determined by Acquiring Fund, in cooperation with Acquired Fund, pursuant to procedures Acquiring Fund would use in determining the fair market value of Acquiring Fund\u2019s assets and liabilities. <![if !supportLists]>(c) <![endif]>No adjustment shall be made in the net asset value of either Acquired Fund or Acquiring Fund to take into account differences in realized and unrealized gains and losses. <![if !supportLists]>(d) <![endif]>Reserved. <![if !supportLists]>(e) <![endif]>Acquired Fund shall distribute the Merger Shares to the shareholders of Acquired Fund by furnishing written instructions to Acquiring Fund\u2019s transfer agent which will as soon as practicable set up open accounts for each shareholder of Acquired Fund in accordance with written instructions furnished by Acquired Fund. With respect to any Acquired Fund shareholder holding share certificates as of the Exchange Date, Acquiring Fund will not permit such shareholder to receive dividends and other distributions on the Merger Shares (although such dividends and other distributions shall be credited to the account of such shareholder), or pledge such Merger Shares until such shareholder has surrendered his or her outstanding Acquired Fund certificates or, in the event of lost, stolen, or destroyed certificates, posted adequate bond. In the event that a shareholder shall not be permitted to receive dividends and other distributions on the Merger Shares as provided in the preceding sentence, Acquiring Fund shall pay any such dividends or distributions in additional shares, notwithstanding any election such shareholder shall have made previously with respect to the payment, in cash or otherwise, of dividends and distributions on shares of Acquired Fund. Acquired Fund will, at its expense, request the shareholders of Acquired Fund to surrender their outstanding Acquired Fund certificates, or post adequate bond, as the case may be. <![if !supportLists]>(f) <![endif]>Acquiring Fund shall assume all liabilities of Acquired Fund, whether accrued or contingent, in connection with the acquisition of assets and subsequent dissolution of Acquired Fund or otherwise.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "acquiring-fund", "type": "definition", "offset": [22, 36]}, {"key": "deliver-to", "type": "definition", "offset": [42, 52]}, {"key": "number-of-full", "type": "clause", "offset": [69, 83]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [123, 148]}, {"key": "equal-to", "type": "definition", "offset": [149, 157]}, {"key": "value-of-assets", "type": "clause", "offset": [162, 177]}, {"key": "shares-of", "type": "clause", "offset": [211, 220]}, {"key": "the-liabilities", "type": "clause", "offset": [296, 311]}, {"key": "the-shares", "type": "clause", "offset": [345, 355]}, {"key": "the-net", "type": "clause", "offset": [448, 455]}, {"key": "shares-to-be-delivered", "type": "clause", "offset": [482, 504]}, {"key": "the-assets", "type": "clause", "offset": [536, 546]}, {"key": "each-case", "type": "definition", "offset": [709, 718]}, {"key": "valuation-time", "type": "clause", "offset": [743, 757]}, {"key": "assets-and-liabilities", "type": "clause", "offset": [857, 879]}, {"key": "cooperation-with", "type": "clause", "offset": [953, 969]}, {"key": "pursuant-to", "type": "definition", "offset": [985, 996]}, {"key": "the-fair-market-value", "type": "clause", "offset": [1048, 1069]}, {"key": "take-into-account", "type": "definition", "offset": [1245, 1262]}, {"key": "unrealized-gains-and-losses", "type": "clause", "offset": [1291, 1318]}, {"key": "distribute-the", "type": "clause", "offset": [1420, 1434]}, {"key": "to-the-shareholders", "type": "definition", "offset": [1449, 1468]}, {"key": "instructions-to", "type": "definition", "offset": [1508, 1523]}, {"key": "transfer-agent", "type": "clause", "offset": [1541, 1555]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [1567, 1589]}, {"key": "open-accounts", "type": "clause", "offset": [1597, 1610]}, {"key": "in-accordance-with", "type": "clause", "offset": [1649, 1667]}, {"key": "with-respect-to", "type": "clause", "offset": [1717, 1732]}, {"key": "fund-shareholder", "type": "definition", "offset": [1746, 1762]}, {"key": "share-certificates", "type": "definition", "offset": [1771, 1789]}, {"key": "to-receive", "type": "definition", "offset": [1863, 1873]}, {"key": "distributions-on-the", "type": "clause", "offset": [1894, 1914]}, {"key": "the-account", "type": "clause", "offset": [1999, 2010]}, {"key": "in-the-event-of", "type": "clause", "offset": [2155, 2170]}, {"key": "a-shareholder", "type": "definition", "offset": [2252, 2265]}, {"key": "dividends-or-distributions", "type": "clause", "offset": [2428, 2454]}, {"key": "additional-shares", "type": "definition", "offset": [2458, 2475]}, {"key": "the-payment", "type": "clause", "offset": [2566, 2577]}, {"key": "dividends-and-distributions-on-shares", "type": "clause", "offset": [2604, 2641]}, {"key": "the-case", "type": "definition", "offset": [2823, 2831]}, {"key": "in-connection-with", "type": "clause", "offset": [2968, 2986]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [2991, 3012]}], "size": 38, "hash": "a47ef9466dbe02e3b917338b129288ab", "id": 1}, {"samples": [{"hash": "fgj834zvYvW", "uri": "/contracts/fgj834zvYvW#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Stone Ridge Trust)", "score": 29.918548584, "published": true}], "snippet": "a. Delivery of the Assets of the Acquired Fund to be transferred and assumption of the liabilities of the Acquired Fund to be assumed, and delivery of the Reorganization Shares to be issued, shall occur at the offices of the Trust at \u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587 \u2587\u2587\u2587\u2587, \u2587\u2587\u2587 \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 or at such other location and date agreed to by the Acquiring Fund and the Acquired Fund, the date upon which such transactions are to take place being referred to herein as the \u201cExchange Date.\u201d All acts taking place on the Exchange Date pursuant to this Agreement shall be deemed to take place simultaneously as of 5:00 p.m. Eastern Time on the Exchange Date unless otherwise agreed to by the parties.\nb. The \u201cValuation Time,\u201d as referred to herein, is ordinarily the close of regular trading on the New York Stock Exchange (\u201cNYSE\u201d) (normally 4:00 p.m. Eastern time) on the Exchange Date or such earlier or later day as may be mutually agreed upon in writing by the parties hereto, such date shall be referred to herein as the \u201cValuation Date.\u201d\nc. In the event that, immediately prior to or at the Valuation Time, (a) the New York Stock Exchange shall be closed to regular session trading or trading thereon shall be restricted, or (b) trading or the reporting of trading on said Exchange or elsewhere shall be disrupted so that accurate appraisal of the net asset value of the Acquiring Fund or the Acquired Fund is impracticable, the Exchange Date shall be postponed until the first business day after the day when trading shall have been fully resumed and reporting shall have been restored or such other date as may be agreed upon by the Acquiring Fund and the Acquired Fund; provided that if trading shall not be fully resumed and reporting restored within three business days after the Exchange Date, this Agreement may be terminated by the Acquiring Fund or the Acquired Fund upon the giving of written notice to the other party.", "snippet_links": [{"key": "assets-of-the-acquired-fund", "type": "clause", "offset": [19, 46]}, {"key": "liabilities-of-the-acquired-fund", "type": "clause", "offset": [87, 119]}, {"key": "and-delivery", "type": "clause", "offset": [135, 147]}, {"key": "shares-to-be-issued", "type": "clause", "offset": [170, 189]}, {"key": "offices-of-the-trust", "type": "clause", "offset": [210, 230]}, {"key": "location-and-date", "type": "clause", "offset": [308, 325]}, {"key": "the-acquiring-fund-and-the", "type": "clause", "offset": [339, 365]}, {"key": "exchange-date", "type": "definition", "offset": [470, 483]}, {"key": "the-exchange", "type": "clause", "offset": [511, 523]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [529, 555]}, {"key": "eastern-time", "type": "definition", "offset": [617, 629]}, {"key": "unless-otherwise-agreed", "type": "clause", "offset": [651, 674]}, {"key": "by-the-parties", "type": "clause", "offset": [678, 692]}, {"key": "valuation-time", "type": "clause", "offset": [702, 716]}, {"key": "the-new-york-stock-exchange", "type": "clause", "offset": [788, 815]}, {"key": "mutually-agreed", "type": "definition", "offset": [919, 934]}, {"key": "in-writing", "type": "clause", "offset": [940, 950]}, {"key": "the-parties-hereto", "type": "clause", "offset": [954, 972]}, {"key": "valuation-date", "type": "clause", "offset": [1020, 1034]}, {"key": "in-the-event", "type": "clause", "offset": [1040, 1052]}, {"key": "prior-to", "type": "clause", "offset": [1071, 1079]}, {"key": "the-valuation", "type": "clause", "offset": [1086, 1099]}, {"key": "regular-session", "type": "definition", "offset": [1157, 1172]}, {"key": "reporting-of", "type": "clause", "offset": [1243, 1255]}, {"key": "net-asset-value-of-the-acquiring-fund", "type": "clause", "offset": [1347, 1384]}, {"key": "the-day", "type": "definition", "offset": [1496, 1503]}, {"key": "provided-that", "type": "definition", "offset": [1672, 1685]}, {"key": "days-after", "type": "definition", "offset": [1769, 1779]}, {"key": "agreement-may-be-terminated", "type": "clause", "offset": [1804, 1831]}, {"key": "notice-to-the", "type": "clause", "offset": [1902, 1915]}, {"key": "other-party", "type": "definition", "offset": [1916, 1927]}], "size": 8, "hash": "305f3090a89557031523d16bcb2933e7", "id": 2}, {"samples": [{"hash": "pO5H400isT", "uri": "/contracts/pO5H400isT#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Amsouth Mutual Funds)", "score": 18.0, "published": true}], "snippet": "On the Exchange Date, AmSouth will deliver to Infinity a number of Shares having an aggregate net asset value equal to the value of the assets of the corresponding ISG Fund acquired by each AmSouth Fund, less the value of the liabilities of such ISG Fund assumed, determined as hereafter provided in this Section 4.\n(a) Subject to Section 4(d) hereof, the value of each ISG Fund's net assets will be computed as of the Valuation Time using the valuation procedures for the corresponding AmSouth Fund set forth in the AmSouth Prospectus and Statement of Additional Information. In no event shall the same security held by both Infinity and AmSouth be valued at different prices.\n(b) Subject to Section 4(d) hereof, the net asset value of a share of each AmSouth Fund will be determined to the nearest full cent as of the Valuation Time, using the valuation procedures set forth in the AmSouth Prospectus for the particular AmSouth Fund.\n(c) Subject to Section 4(d), the Valuation Time shall be 4:00 p.m. Eastern Standard time on MARCH 10, 2000 for all of the ISG Funds, or such earlier or later days as may be mutually agreed upon in writing by the parties hereto (the \"Valuation Time\").\n(d) No formula will be used to adjust the net asset value of any ISG Fund or AmSouth Fund to take into account differences in realized and unrealized gains and losses.\n(e) Each AmSouth Fund shall issue its Shares to the corresponding ISG Fund on one share deposit receipt registered in the name of the corresponding ISG Fund. Each ISG Fund\n(f) Each AmSouth Fund shall assume all liabilities of the corresponding ISG Fund, whether accrued or contingent, in connection with the acquisition of assets and subsequent dissolution of the corresponding ISG Fund or otherwise, except that recourse for assumed liabilities relating to a particular ISG Fund will be limited to the corresponding AmSouth Fund.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "deliver-to", "type": "definition", "offset": [35, 45]}, {"key": "number-of-shares", "type": "definition", "offset": [57, 73]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [84, 109]}, {"key": "equal-to", "type": "definition", "offset": [110, 118]}, {"key": "the-value", "type": "clause", "offset": [119, 128]}, {"key": "the-assets", "type": "clause", "offset": [132, 142]}, {"key": "the-liabilities", "type": "clause", "offset": [222, 237]}, {"key": "section-4", "type": "definition", "offset": [305, 314]}, {"key": "subject-to-section", "type": "clause", "offset": [320, 338]}, {"key": "net-assets", "type": "clause", "offset": [381, 391]}, {"key": "valuation-time", "type": "clause", "offset": [419, 433]}, {"key": "valuation-procedures", "type": "definition", "offset": [444, 464]}, {"key": "prospectus-and-statement-of-additional-information", "type": "clause", "offset": [525, 575]}, {"key": "in-no-event-shall", "type": "clause", "offset": [577, 594]}, {"key": "security-held", "type": "definition", "offset": [604, 617]}, {"key": "the-net", "type": "clause", "offset": [714, 721]}, {"key": "a-share", "type": "definition", "offset": [737, 744]}, {"key": "eastern-standard-time", "type": "clause", "offset": [1003, 1024]}, {"key": "on-march", "type": "clause", "offset": [1025, 1033]}, {"key": "mutually-agreed", "type": "definition", "offset": [1109, 1124]}, {"key": "in-writing", "type": "clause", "offset": [1130, 1140]}, {"key": "the-parties-hereto", "type": "clause", "offset": [1144, 1162]}, {"key": "take-into-account", "type": "definition", "offset": [1280, 1297]}, {"key": "unrealized-gains-and-losses", "type": "clause", "offset": [1326, 1353]}, {"key": "deposit-receipt", "type": "clause", "offset": [1443, 1458]}, {"key": "in-connection-with", "type": "clause", "offset": [1640, 1658]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [1663, 1684]}, {"key": "dissolution-of-the", "type": "clause", "offset": [1700, 1718]}, {"key": "assumed-liabilities", "type": "clause", "offset": [1781, 1800]}, {"key": "relating-to", "type": "definition", "offset": [1801, 1812]}], "size": 7, "hash": "b316a4e1007381d1353576092840162f", "id": 3}, {"samples": [{"hash": "gTmKEeuC7Hw", "uri": "/contracts/gTmKEeuC7Hw#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Fifth Third Funds)", "score": 18.0, "published": true}], "snippet": "On the Exchange Date, Fifth Third will ----------------------------- deliver to Maxus Laureate a number of Fifth Third Shares having an aggregate net asset value equal to the value of the assets attributable to each class of Maxus Shares of Maxus Laureate acquired by Fifth Third Worldwide, less the value of the liabilities of Maxus Laureate assumed, determined as hereafter provided in this Section 4.\n(a) Subject to Section 4(d) hereof, the value of Maxus Laureate's net assets will be computed as of the Valuation Time using the valuation procedures for Fifth Third Worldwide set forth in the Fifth Third Prospectus and Fifth Third Statement of Additional Information. In no event shall the same security held by both Maxus Laureate and Fifth Third be valued at different prices.\n(b) Subject to Section 4(d) hereof, the net asset value of a share of Fifth Third Worldwide will be determined to the nearest full cent as of the Valuation Time, using the valuation procedures set forth in the Fifth Third Prospectus for Fifth Third Worldwide.\n(c) Subject to Section 4(d), the Valuation Time shall be 4:00 p.m. Eastern Standard time on June 22, 2001, or such earlier or later days as may be mutually agreed upon in writing by the parties hereto (the \"Valuation Time\").\n(d) No formula will be used to adjust the net asset value of Maxus Laureate or Fifth Third Worldwide to take into account differences in realized and unrealized gains and losses.\n(e) Fifth Third Worldwide shall issue its Fifth Third Shares to Maxus Laureate on one share deposit receipt registered in the name of Maxus Laureate. Maxus Laureate shall distribute in liquidation the Fifth Third Shares received by it hereunder pro rata to its shareholders by redelivering such share deposit receipt to Fifth Third's transfer agent which will as soon as practicable set up open accounts for Maxus Laureate shareholders in accordance with written instructions furnished by Maxus Laureate.\n(f) Fifth Third Worldwide shall assume all liabilities of Maxus Laureate, whether accrued or contingent, in connection with the acquisition of assets and subsequent dissolution of Maxus Laureate or otherwise, except that recourse for assumed liabilities relating to Maxus Laureate will be limited to Fifth Third Worldwide.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "fifth-third", "type": "definition", "offset": [22, 33]}, {"key": "deliver-to", "type": "definition", "offset": [69, 79]}, {"key": "number-of", "type": "definition", "offset": [97, 106]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [136, 161]}, {"key": "equal-to", "type": "definition", "offset": [162, 170]}, {"key": "the-value", "type": "clause", "offset": [171, 180]}, {"key": "the-assets", "type": "clause", "offset": [184, 194]}, {"key": "class-of", "type": "definition", "offset": [216, 224]}, {"key": "shares-of", "type": "clause", "offset": [231, 240]}, {"key": "the-liabilities", "type": "clause", "offset": [309, 324]}, {"key": "section-4", "type": "definition", "offset": [393, 402]}, {"key": "subject-to-section", "type": "clause", "offset": [408, 426]}, {"key": "net-assets", "type": "clause", "offset": [470, 480]}, {"key": "valuation-time", "type": "clause", "offset": [508, 522]}, {"key": "valuation-procedures", "type": "definition", "offset": [533, 553]}, {"key": "statement-of-additional-information", "type": "clause", "offset": [636, 671]}, {"key": "in-no-event-shall", "type": "clause", "offset": [673, 690]}, {"key": "security-held", "type": "definition", "offset": [700, 713]}, {"key": "the-net", "type": "clause", "offset": [820, 827]}, {"key": "a-share", "type": "definition", "offset": [843, 850]}, {"key": "eastern-standard-time", "type": "clause", "offset": [1111, 1132]}, {"key": "mutually-agreed", "type": "definition", "offset": [1191, 1206]}, {"key": "in-writing", "type": "clause", "offset": [1212, 1222]}, {"key": "the-parties-hereto", "type": "clause", "offset": [1226, 1244]}, {"key": "take-into-account", "type": "definition", "offset": [1373, 1390]}, {"key": "unrealized-gains-and-losses", "type": "clause", "offset": [1419, 1446]}, {"key": "deposit-receipt", "type": "clause", "offset": [1540, 1555]}, {"key": "in-liquidation", "type": "clause", "offset": [1630, 1644]}, {"key": "received-by", "type": "definition", "offset": [1668, 1679]}, {"key": "pro-rata", "type": "definition", "offset": [1693, 1701]}, {"key": "transfer-agent", "type": "clause", "offset": [1782, 1796]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [1808, 1830]}, {"key": "open-accounts", "type": "clause", "offset": [1838, 1851]}, {"key": "in-accordance-with", "type": "clause", "offset": [1884, 1902]}, {"key": "written-instructions", "type": "clause", "offset": [1903, 1923]}, {"key": "in-connection-with", "type": "clause", "offset": [2058, 2076]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [2081, 2102]}, {"key": "assumed-liabilities", "type": "clause", "offset": [2187, 2206]}, {"key": "relating-to", "type": "definition", "offset": [2207, 2218]}], "size": 4, "hash": "e349e92c00f1b0e7a2804e5643c44ce9", "id": 4}, {"samples": [{"hash": "4xN7PqbluOb", "uri": "/contracts/4xN7PqbluOb#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Bb&t Funds /)", "score": 16.0, "published": true}], "snippet": "On the Exchange Date, Large Cap Fund will deliver to Large Cap Growth Fund a number of Large Cap Fund Shares having an aggregate net asset value equal to the value of the assets attributable to each corresponding class of Shares of Large Cap Growth Fund acquired by Large Cap Fund, less the value of the liabilities of Large Cap Growth Fund assumed, determined as hereafter provided in this Section 4.\n(a) Subject to Section 4(d) hereof, the value of Large Cap Growth Fund's net assets will be computed as of the Valuation Time using the valuation procedures for Large Cap Fund set forth in the BB&T Prospectuses and BB&T Statement of Additional Information. In no event shall the same security held by the Large Cap Growth Fund and BB&T Funds be valued at different prices.\n(b) Subject to Section 4(d) hereof, the net asset value of a Share of Large Cap Fund will be determined to the nearest full cent as of the Valuation Time, using the valuation procedures set forth in the BB&T Prospectuses for Large Cap Fund.\n(c) Subject to Section 4(d), the Valuation Time shall be 4:00 p.m. Eastern Standard time on January 26, 2007, or such earlier or later days as may be established by the proper officers of BB&T Funds (the \"Valuation Time\").\n(d) No formula will be used to adjust the net asset value of Large Cap Growth Fund or Large Cap Fund to take into account differences in realized and unrealized gains and losses.\n(e) Large Cap Fund shall issue its Shares to Large Cap Growth Fund on one share deposit receipt registered in the name of Large Cap Growth Fund. Large Cap Growth Fund shall distribute in liquidation the Large Cap Fund Shares received by it hereunder pro rata to its shareholders by redelivering such share deposit receipt to BB&T Funds' transfer agent which will as soon as practicable set up open accounts for each Large Cap Growth Fund shareholder, in accordance with written instructions furnished by Large Cap Growth Fund.\n(f) Large Cap Fund shall assume all liabilities of Large Cap Growth Fund, whether accrued or contingent, in connection with the acquisition of assets and subsequent dissolution of Large Cap Growth Fund or otherwise, except that recourse for assumed liabilities relating to Large Cap Growth Fund will be limited to Large Cap Fund.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "deliver-to", "type": "definition", "offset": [42, 52]}, {"key": "number-of", "type": "definition", "offset": [77, 86]}, {"key": "fund-shares", "type": "clause", "offset": [97, 108]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [119, 144]}, {"key": "equal-to", "type": "definition", "offset": [145, 153]}, {"key": "the-value", "type": "clause", "offset": [154, 163]}, {"key": "the-assets", "type": "clause", "offset": [167, 177]}, {"key": "shares-of", "type": "clause", "offset": [222, 231]}, {"key": "the-liabilities", "type": "clause", "offset": [300, 315]}, {"key": "section-4", "type": "definition", "offset": [391, 400]}, {"key": "subject-to-section", "type": "clause", "offset": [406, 424]}, {"key": "net-assets", "type": "clause", "offset": [475, 485]}, {"key": "valuation-time", "type": "clause", "offset": [513, 527]}, {"key": "valuation-procedures", "type": "definition", "offset": [538, 558]}, {"key": "statement-of-additional-information", "type": "clause", "offset": [622, 657]}, {"key": "in-no-event-shall", "type": "clause", "offset": [659, 676]}, {"key": "security-held", "type": "definition", "offset": [686, 699]}, {"key": "bbt-funds", "type": "definition", "offset": [733, 743]}, {"key": "the-net", "type": "clause", "offset": [811, 818]}, {"key": "a-share", "type": "definition", "offset": [834, 841]}, {"key": "eastern-standard-time", "type": "clause", "offset": [1083, 1104]}, {"key": "proper-officers", "type": "definition", "offset": [1185, 1200]}, {"key": "take-into-account", "type": "definition", "offset": [1343, 1360]}, {"key": "unrealized-gains-and-losses", "type": "clause", "offset": [1389, 1416]}, {"key": "deposit-receipt", "type": "clause", "offset": [1498, 1513]}, {"key": "in-liquidation", "type": "clause", "offset": [1602, 1616]}, {"key": "received-by", "type": "definition", "offset": [1643, 1654]}, {"key": "pro-rata", "type": "definition", "offset": [1668, 1676]}, {"key": "transfer-agent", "type": "clause", "offset": [1755, 1769]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [1781, 1803]}, {"key": "open-accounts", "type": "clause", "offset": [1811, 1824]}, {"key": "fund-shareholder", "type": "definition", "offset": [1851, 1867]}, {"key": "in-accordance-with", "type": "clause", "offset": [1869, 1887]}, {"key": "written-instructions", "type": "clause", "offset": [1888, 1908]}, {"key": "in-connection-with", "type": "clause", "offset": [2050, 2068]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [2073, 2094]}, {"key": "assumed-liabilities", "type": "clause", "offset": [2186, 2205]}, {"key": "relating-to", "type": "definition", "offset": [2206, 2217]}], "size": 3, "hash": "309dbc189e3a59dba3f44a05df673cb8", "id": 5}, {"samples": [{"hash": "a20HfmTwSVW", "uri": "/contracts/a20HfmTwSVW#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Stone Ridge Trust)", "score": 34.5783691406, "published": true}], "snippet": "a. Delivery of the Assets of or held with respect to each Acquired Fund to be transferred and assumption of the liabilities of each Acquired Fund to be assumed, and delivery of the Reorganization Shares to be issued, shall occur at the offices of the Trust at \u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, \u2587\u2587\u2587 \u2587\u2587\u2587\u2587, \u2587\u2587\u2587 \u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587, or at such other location and date agreed to by each Acquiring Fund and each Acquired Fund, the date upon which such transactions are to take place being referred to herein as the \u201cExchange Date.\u201d All acts taking place on the Exchange Date pursuant to this Agreement shall be deemed to take place simultaneously as of 9:00 a.m. Eastern Time on the Exchange Date unless otherwise agreed to by the parties.", "snippet_links": [{"key": "delivery-of-the-assets", "type": "clause", "offset": [3, 25]}, {"key": "with-respect-to", "type": "clause", "offset": [37, 52]}, {"key": "acquired-fund", "type": "definition", "offset": [58, 71]}, {"key": "assumption-of-the-liabilities", "type": "clause", "offset": [94, 123]}, {"key": "and-delivery", "type": "clause", "offset": [161, 173]}, {"key": "shares-to-be-issued", "type": "clause", "offset": [196, 215]}, {"key": "offices-of-the-trust", "type": "clause", "offset": [236, 256]}, {"key": "location-and-date", "type": "clause", "offset": [338, 355]}, {"key": "acquiring-fund", "type": "definition", "offset": [374, 388]}, {"key": "exchange-date", "type": "definition", "offset": [502, 515]}, {"key": "the-exchange", "type": "clause", "offset": [543, 555]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [561, 587]}, {"key": "eastern-time", "type": "definition", "offset": [649, 661]}, {"key": "by-the-parties", "type": "clause", "offset": [710, 724]}], "size": 3, "hash": "c6af62ac5bd07c1bf713407676ced45f", "id": 6}, {"samples": [{"hash": "g0BpS3J5NCH", "uri": "/contracts/g0BpS3J5NCH#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization and Liquidation (Cardinal Group)", "score": 16.0, "published": true}], "snippet": "On the Exchange Date, TCG will deliver to TCFI a number of Acquiring Series Shares having an aggregate net asset value equal to the value of the assets of TCFI acquired by the Acquiring Series, less the value of the liabilities of TCFI assumed, determined as hereafter provided in this Section 4.\n(a) The net asset value of TCFI will be computed as of the Valuation Time, using the valuation procedures set forth in the current prospectus of TCFI.\n(b) The net asset value of each of the Acquiring Series Shares will be determined to the nearest full cent as of the Valuation Time, and shall be set at the net asset value per share of TCFI as of the Valuation Time.\n(c) The Valuation Time shall be 4:00 P.M., Eastern Standard Time, on March 30, 1996, or such earlier or later day as may be mutually agreed upon in writing by the parties hereto (the \"Valuation Time\").\n(d) The Acquiring Series shall issue its Acquiring Series Shares to TCFI on one share deposit receipt registered in the name of TCFI. TCFI shall distribute in liquidation the Acquiring Series Shares received by it hereunder PRO RATA to its shareholders by redelivering such share deposit receipt to TCG's transfer agent, which will as soon as practicable set up open accounts for each TCFI shareholder in accordance with written instructions furnished by TCFI.\n(e) The Acquiring Series shall assume all liabilities of TCFI, whether accrued or contingent, described in subsection 1(c) hereof in connection with the acquisition of assets and subsequent dissolution of TCFI or otherwise, except that recourse for assumed liabilities relating to TCFI will be limited to the Acquiring Series.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "deliver-to", "type": "definition", "offset": [31, 41]}, {"key": "number-of", "type": "definition", "offset": [49, 58]}, {"key": "series-shares", "type": "clause", "offset": [69, 82]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [93, 118]}, {"key": "equal-to", "type": "definition", "offset": [119, 127]}, {"key": "the-value", "type": "clause", "offset": [128, 137]}, {"key": "the-assets", "type": "clause", "offset": [141, 151]}, {"key": "the-liabilities", "type": "clause", "offset": [212, 227]}, {"key": "section-4", "type": "definition", "offset": [286, 295]}, {"key": "the-net", "type": "clause", "offset": [301, 308]}, {"key": "valuation-time", "type": "clause", "offset": [356, 370]}, {"key": "valuation-procedures", "type": "definition", "offset": [382, 402]}, {"key": "current-prospectus", "type": "clause", "offset": [420, 438]}, {"key": "net-asset-value-per-share", "type": "clause", "offset": [605, 630]}, {"key": "eastern-standard-time", "type": "clause", "offset": [708, 729]}, {"key": "on-march", "type": "clause", "offset": [731, 739]}, {"key": "mutually-agreed", "type": "definition", "offset": [789, 804]}, {"key": "in-writing", "type": "clause", "offset": [810, 820]}, {"key": "the-parties-hereto", "type": "clause", "offset": [824, 842]}, {"key": "deposit-receipt", "type": "clause", "offset": [953, 968]}, {"key": "in-liquidation", "type": "clause", "offset": [1023, 1037]}, {"key": "received-by", "type": "definition", "offset": [1066, 1077]}, {"key": "pro-rata", "type": "definition", "offset": [1091, 1099]}, {"key": "transfer-agent", "type": "clause", "offset": [1172, 1186]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [1199, 1221]}, {"key": "open-accounts", "type": "clause", "offset": [1229, 1242]}, {"key": "in-accordance-with", "type": "clause", "offset": [1269, 1287]}, {"key": "written-instructions", "type": "clause", "offset": [1288, 1308]}, {"key": "in-connection-with", "type": "clause", "offset": [1458, 1476]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [1481, 1502]}, {"key": "assumed-liabilities", "type": "clause", "offset": [1577, 1596]}, {"key": "relating-to", "type": "definition", "offset": [1597, 1608]}], "size": 3, "hash": "6cb764ccfddcb4d1839c10254b898f03", "id": 7}, {"samples": [{"hash": "fTCtFKDRagE", "uri": "/contracts/fTCtFKDRagE#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Gateway Trust)", "score": 16.0, "published": true}, {"hash": "2bfLz3G2O9A", "uri": "/contracts/2bfLz3G2O9A#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Gateway Trust)", "score": 16.0, "published": true}], "snippet": "On the Exchange Date, the Acquiring Fund will deliver to the Acquired Fund a number of full and fractional Merger Shares having an aggregate net asset value equal to the value of the assets of the Acquired Fund on such date less the value of the liabilities of the Acquired Fund assumed by the Acquiring Fund on that date, determined as hereinafter provided in this Section 4. a. The net asset value of the Merger Shares to be delivered to the Acquired Fund, the value of the assets of the Acquired Fund, and the value of the liabilities of the Acquired Fund to be assumed by the Acquiring Fund, shall in each case be determined as of the Valuation Time.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "the-acquiring-fund", "type": "clause", "offset": [22, 40]}, {"key": "deliver-to", "type": "definition", "offset": [46, 56]}, {"key": "number-of-full", "type": "clause", "offset": [77, 91]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [131, 156]}, {"key": "equal-to", "type": "definition", "offset": [157, 165]}, {"key": "the-value", "type": "clause", "offset": [166, 175]}, {"key": "assets-of-the-acquired-fund", "type": "clause", "offset": [183, 210]}, {"key": "liabilities-of-the-acquired-fund", "type": "clause", "offset": [246, 278]}, {"key": "section-4", "type": "definition", "offset": [366, 375]}, {"key": "the-net", "type": "clause", "offset": [380, 387]}, {"key": "shares-to-be-delivered", "type": "clause", "offset": [414, 436]}, {"key": "each-case", "type": "definition", "offset": [605, 614]}, {"key": "valuation-time", "type": "clause", "offset": [639, 653]}], "size": 2, "hash": "29408564d3e13004d32adfa5d9089876", "id": 8}, {"samples": [{"hash": "3EnXbDmM64w", "uri": "/contracts/3EnXbDmM64w#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization (Fifth Third Funds)", "score": 18.0, "published": true}], "snippet": "On the Exchange Date, Fifth Third will ----------------------------- deliver to Maxfund Trust a number of Fifth Third Shares having an aggregate net asset value equal to the value of the assets attributable to each class of Maxus Shares of Maxus Aggressive Value acquired by Fifth Third Microcap Value, less the value of the liabilities of Maxus Aggressive Value assumed, determined as hereafter provided in this Section 4.\n(a) Subject to Section 4(d) hereof, the value of Maxus Aggressive Value's net assets will be computed as of the Valuation Time using the valuation procedures for Fifth Third Microcap Value set forth in the Fifth Third Prospectus and Fifth Third Statement of Additional Information. In no event shall the same security held by both Maxfund Trust and Fifth Third be valued at different prices.\n(b) Subject to Section 4(d) hereof, the net asset value of a Fifth Third Share of Fifth Third Microcap Value will be determined to the nearest full cent as of the Valuation Time, using the valuation procedures set forth in the Fifth Third Prospectus for Fifth Third Microcap Value.\n(c) Subject to Section 4(d), the Valuation Time shall be 4:00 p.m. Eastern Standard time on June 22, 2001, or such earlier or later days as may be mutually agreed upon in writing by the parties hereto (the \"Valuation Time\").\n(d) No formula will be used to adjust the net asset value of Maxus Aggressive Value or Fifth Third Microcap Value to take into account differences in realized and unrealized gains and losses.\n(e) Fifth Third Microcap Value shall issue its Fifth Third Shares to Maxus Aggressive Value on one share deposit receipt registered in the name of Maxus Aggressive Value. Maxus Aggressive Value shall distribute in liquidation the Fifth Third Shares received by it hereunder pro rata to its shareholders by redelivering such share deposit receipt to Fifth Third's transfer agent which will as soon as practicable set up open accounts for Maxus Aggressive Value shareholders in accordance with written instructions furnished by Maxfund Trust.\n(f) Fifth Third Microcap Value shall assume all liabilities of Maxus Aggressive Value, whether accrued or contingent, in connection with the acquisition of assets and subsequent dissolution of Maxus Aggressive Value or otherwise, except that recourse for assumed liabilities relating to Maxus Aggressive Value will be limited to Fifth Third Microcap Value.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "fifth-third", "type": "definition", "offset": [22, 33]}, {"key": "deliver-to", "type": "definition", "offset": [69, 79]}, {"key": "number-of", "type": "definition", "offset": [96, 105]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [135, 160]}, {"key": "equal-to", "type": "definition", "offset": [161, 169]}, {"key": "the-value", "type": "clause", "offset": [170, 179]}, {"key": "the-assets", "type": "clause", "offset": [183, 193]}, {"key": "class-of", "type": "definition", "offset": [215, 223]}, {"key": "shares-of", "type": "clause", "offset": [230, 239]}, {"key": "the-liabilities", "type": "clause", "offset": [321, 336]}, {"key": "section-4", "type": "definition", "offset": [413, 422]}, {"key": "subject-to-section", "type": "clause", "offset": [428, 446]}, {"key": "net-assets", "type": "clause", "offset": [498, 508]}, {"key": "valuation-time", "type": "clause", "offset": [536, 550]}, {"key": "valuation-procedures", "type": "definition", "offset": [561, 581]}, {"key": "statement-of-additional-information", "type": "clause", "offset": [669, 704]}, {"key": "in-no-event-shall", "type": "clause", "offset": [706, 723]}, {"key": "security-held", "type": "definition", "offset": [733, 746]}, {"key": "the-net", "type": "clause", "offset": [852, 859]}, {"key": "eastern-standard-time", "type": "clause", "offset": [1165, 1186]}, {"key": "mutually-agreed", "type": "definition", "offset": [1245, 1260]}, {"key": "in-writing", "type": "clause", "offset": [1266, 1276]}, {"key": "the-parties-hereto", "type": "clause", "offset": [1280, 1298]}, {"key": "take-into-account", "type": "definition", "offset": [1440, 1457]}, {"key": "unrealized-gains-and-losses", "type": "clause", "offset": [1486, 1513]}, {"key": "deposit-receipt", "type": "clause", "offset": [1620, 1635]}, {"key": "in-liquidation", "type": "clause", "offset": [1726, 1740]}, {"key": "received-by", "type": "definition", "offset": [1764, 1775]}, {"key": "pro-rata", "type": "definition", "offset": [1789, 1797]}, {"key": "transfer-agent", "type": "clause", "offset": [1878, 1892]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [1904, 1926]}, {"key": "open-accounts", "type": "clause", "offset": [1934, 1947]}, {"key": "in-accordance-with", "type": "clause", "offset": [1988, 2006]}, {"key": "written-instructions", "type": "clause", "offset": [2007, 2027]}, {"key": "in-connection-with", "type": "clause", "offset": [2174, 2192]}, {"key": "acquisition-of-assets", "type": "clause", "offset": [2197, 2218]}, {"key": "assumed-liabilities", "type": "clause", "offset": [2311, 2330]}, {"key": "relating-to", "type": "definition", "offset": [2331, 2342]}], "size": 2, "hash": "4ef3bf45ecccd99edbda265ce3050f00", "id": 9}, {"samples": [{"hash": "hDF3Cb2eh4f", "uri": "/contracts/hDF3Cb2eh4f#exchange-date-valuation-time", "label": "Agreement and Plan of Reorganization and Liquidation (Cardinal Group)", "score": 16.0, "published": true}], "snippet": "On the Exchange Date, TCG will deliver to CGOF a number of Acquiring Series Shares having an aggregate net asset value equal to the value of the assets of CGOF acquired by the Acquiring Series, less the value of the liabilities of CGOF assumed, determined as hereafter provided in this Section 4.\n(a) The net value of CGOF will be computed as of the Valuation Time, using the valuation procedures set forth in the current prospectus of CGOF.", "snippet_links": [{"key": "exchange-date", "type": "definition", "offset": [7, 20]}, {"key": "deliver-to", "type": "definition", "offset": [31, 41]}, {"key": "number-of", "type": "definition", "offset": [49, 58]}, {"key": "series-shares", "type": "clause", "offset": [69, 82]}, {"key": "aggregate-net-asset-value", "type": "definition", "offset": [93, 118]}, {"key": "equal-to", "type": "definition", "offset": [119, 127]}, {"key": "the-value", "type": "clause", "offset": [128, 137]}, {"key": "the-assets", "type": "clause", "offset": [141, 151]}, {"key": "the-liabilities", "type": "clause", "offset": [212, 227]}, {"key": "section-4", "type": "definition", "offset": [286, 295]}, {"key": "net-value", "type": "definition", "offset": [305, 314]}, {"key": "valuation-time", "type": "clause", "offset": [350, 364]}, {"key": "valuation-procedures", "type": "definition", "offset": [376, 396]}, {"key": "current-prospectus", "type": "clause", "offset": [414, 432]}], "size": 1, "hash": "e0ca4e2a2047db7e793c72f6a495a551", "id": 10}], "next_curs": "CmUSX2oVc35sYXdpbnNpZGVyY29udHJhY3RzckELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiVleGNoYW5nZS1kYXRlLXZhbHVhdGlvbi10aW1lIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["agreement", "AGREEMENT"], ["bbt-funds-declaration-of-trust", "BB&T Funds' Declaration of Trust"]], "size": 74, "title": "Exchange Date; Valuation Time", "children": [["reserved", "Reserved"], ["fifth-third", "Fifth Third"]], "id": "exchange-date-valuation-time", "related": [["valuation-time", "Valuation Time", "Valuation Time"], ["closing-date-balance-sheet", "Closing Date Balance Sheet", "Closing Date Balance Sheet"], ["increased-conversion-rate-applicable-to-certain-notes-surrendered-in-connection-with-make-whole-fundamental-changes", "Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes", "Increased Conversion Rate Applicable to Certain Notes Surrendered in Connection with Make-Whole Fundamental Changes"], ["actual-settlement-date-accounting", "Actual Settlement Date Accounting", "Actual Settlement Date Accounting"], ["payments-from-the-gross-settlement-amount", "Payments from the Gross Settlement Amount", "Payments from the Gross Settlement Amount"]], "related_snippets": [], "updated": "2026-01-18T05:23:53+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The 'Exchange Date; Valuation Time' clause defines the specific date and time at which the value of an asset, security, or transaction is determined for contractual purposes. In practice, this clause sets out when the parties will reference market prices or other relevant data\u2014such as the close of business on a particular exchange or a specified time zone\u2014to calculate settlement amounts or obligations. By clearly establishing these temporal benchmarks, the clause ensures consistency and fairness in valuation, reducing the risk of disputes over timing and price fluctuations."}, "json": true, "cursor": ""}}