Common use of FUND ACCOUNTS Clause in Contracts

FUND ACCOUNTS. The Administrative Committee may, upon 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, having received advice from their advisors, credit such amounts to those accounts at establishment as the Administrative Committee determines, subject to the establishment of the accounts with these recommended amounts not placing the Fund in a financially unsound position. 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 will at all times be operated in compliance with any applicable legislation.

FUND ACCOUNTS. The Administrative Committee may, upon advice 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, having received advice from their advisors, may credit such amounts to those accounts at establishment as the Administrative Committee determinestheir advisors deem appropriate, subject to the establishment of the accounts with these recommended amounts not placing the Fund in a financially unsound position. The It is required that 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 will must at all times be operated in compliance with any applicable legislation.