Common use of FUND ACCOUNTS Clause in Contracts

FUND ACCOUNTS. The Administrative Committee may, upon advise from their advisors, establish such accounts in the Fund as may be deemed appropriate to ensure the sound ongoing functioning of the Fund, and may credit such amounts to those accounts at establishment as their advisors deem appropriate, subject to the establishment of the accounts with these recommended amounts not placing the Fund in a financially unsound position. It is required that the Rules of the Fund reflect these reserve accounts, and specify the provisions for the operation of these accounts. These reserve accounts must at all times be operated in compliance with any applicable legislation.

FUND ACCOUNTS. The Administrative Committee may, upon advise advice from their advisors, establish such accounts in the Fund as may be deemed appropriate to ensure the sound ongoing functioning of the Fund, and may may, having received advice from their advisors, credit such amounts to those accounts at establishment as their advisors deem appropriatethe Administrative Committee determines, subject to the establishment of the accounts with these recommended amounts not placing the Fund in a financially unsound position. It is required that the The Rules of the Northern Chamber Fund will reflect these reserve accounts, and will specify the provisions for the operation of these accounts. These reserve accounts must will at all times be operated in compliance with any applicable legislation.