Fund of Funds Sample Clauses

Fund of Funds. The Parties agree to limit, and not facilitate, a Contract holder’s participation in each Portfolio’s investment process in contravention of the following, which the Parties represent and warrant to each other to be true: (1) there is not, and there will not be, any arrangement, plan, contract or agreement between the Adviser (or a subadviser) and a Contract holder regarding the availability of a Portfolio as an Account under the Contract, or the specific assets to be held by a Portfolio or an investment company that a Portfolio may invest its assets; (2) other than a Contract holder’s ability to allocate Contract premiums and transfer amounts in the Company’s Account to and from the Company’s Account corresponding to a Portfolio, all investment decisions concerning a Portfolio will be made by the Adviser, any subadviser(s) and the Directors in their sole and absolute discretion; (3) the percentage of a Portfolio’s assets invested in a particular investment company will not be fixed in advance of any Contract holder’s investment and will be subject to change by the Adviser or a subadviser at any time without notice; (4) a Contract holder cannot, and will not be able to, direct a Portfolio’s investment in any particular asset or recommend a particular investment or investment strategy; (5) there is not, and will not be, any agreement or plan between the Adviser or a subadviser and a Contract holder regarding a particular investment of a Portfolio; (6) a Contract holder cannot, and will not be able to, communicate directly or indirectly with the Adviser or a subadviser concerning the selection, quality or rate of return on any specific investment or group of investments held by a Portfolio; (7) a Contract holder does not have, and will not have, any current knowledge of a Portfolio’s specific assets other than as may be required to be presented in periodic reports to a Portfolio’s shareholders; (8) a Contract holder does not have, and will not have, any legal, equitable, direct or indirect ownership interest in any of the assets of a Portfolio; and (9) a Contract holder only has, and only will have, a contractual claim against the insurance company offering the Contract to receive cash from the insurance company under the terms of the Contract holder’s Contract.

Fund of Funds. Each Lifestyle and Retirement Living Portfolio listed in Appendix A (the “Fund of Funds”) operates as a “fund of funds” and invests primarily in other series of the Trust or other investment companies managed by the Adviser and its affiliates (“Affiliated Funds”), and investment companies managed by advisers that are not affiliated with the Adviser (“Unaffiliated Funds”) (collectively, “Underlying Funds”). QS Investors will provide the Adviser the following information and services relating to the Fund of Funds as may be requested by the Adviser from time to time: · calculate the probability that the advisers to the Unaffiliated Funds are likely outperform their performance benchmarks; · on a quarterly basis, perform statistical performance analysis of historical returns for managers of Underlying Funds that the Adviser is considering for possible investment by the Fund of Funds; · on a quarterly basis, using a combination of sources, including QS Investors’s proprietary optimization technology, optimize Fund of Funds investments consistent with one or more performance objectives specified by the Adviser (including, but not limited to, the probability of out-performing a benchmark, minimum shortfall relative to the benchmark, and specification of the benchmark for each Fund of Funds, and any constraints that the Adviser may specify on allocations to Unaffiliated Funds); · consult with the Adviser to explain proposed allocations on a quarterly basis and review past performance of the Fund of Funds, provided that QS Investors is given information on the performance of these Fund of Funds and the actual allocations implemented.

Fund of Funds. ▇▇▇ agrees to reimburse the ▇▇▇▇▇▇ fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses and payments under the fund’s investor servicing contract – through the dates indicated below, which, with the exception of ▇▇▇▇▇▇ RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement.

Fund of Funds. ▇▇▇ agrees to reimburse the ▇▇▇▇▇▇ fund-of-funds specified below for all other expenses – exclusive of payments under the fund’s distribution plans, brokerage, interest, taxes, investment-related expenses, extraordinary expenses, acquired fund fees and expenses (and in the case of ▇▇▇▇▇▇ Retirement Income Fund Lifestyle 1 and the ▇▇▇▇▇▇ RetirementReady® Funds, payments under the fund’s investor servicing contract) – through the dates indicated below, which, with the exception of ▇▇▇▇▇▇ RetirementReady® 2060 Fund, equate to the expiration of the one-year period following the effective date of the next annual update of each fund’s registration statement.

Fund of Funds. (1) shall not be obligated or permitted to make a capital contribution or to acquire Shares pursuant to Section I except to the extent that the Fund of Funds' assets are not invested in shares of the Funds; (2) shall not be allocated or obligated to pay any portion of the expenses of Service Company pursuant to Section 3.2 except as determined by the Board of Directors of Service Company pursuant to Section 3.2(A)(4); and (3) may have the expenses the Fund of Funds would otherwise bear pursuant to Section 2.1 reduced or eliminated by the savings which accrue to the benefit of the Funds.

Fund of Funds. Is the Subscriber a fund of funds?8

Fund of Funds. The Parties will conduct their business at all times so that no Contract holder will have such incidents of control as will cause a Portfolio’s income and gains to be taxable to the Contract holder as a result of the application of the investor control doctrine enunciated in a series of Revenue Rulings, including Revenue Ruling 77-85, Revenue Ruling 80-274, Revenue Ruling 81-225, Revenue Ruling 82-54, Revenue Ruling 2003-91 and Revenue Ruling 2007- 7, and adopted by ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ v. United States, 749 F.2d 513 (8th Cir. 1985) and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ v. Commissioner, 144 T.C. No 17 (2015). In this regard, the Parties agree to limit, and not facilitate, a Contract holder’s participation in each Portfolio’s investment process in contravention of the following, which the Parties represent and warrant to each other to be true: (1) there is not, and there will not be, any arrangement, plan, contract or agreement between the Adviser (or a subadviser) and a Contract holder regarding the availability of a Portfolio as an Account under the Contract, or the specific assets to be held by a Portfolio or an investment company that a Portfolio may invest its assets; (2) other than a Contract holder’s ability to allocate Contract premiums and transfer amounts in the Company’s Account to and from the Company’s Account corresponding to a Portfolio, all investment decisions concerning a Portfolio will be made by the Adviser, any subadviser(s) and the Directors in their sole and absolute discretion; (3) the percentage of a Portfolio’s assets invested in a particular investment company will not be fixed in advance of any Contract holder’s investment and will be subject to change by the Adviser or a subadviser at any time without notice; (4) a Contract holder cannot, and will not be able to, direct a Portfolio’s investment in any particular asset or recommend a particular investment or investment strategy; (5) there is not, and will not be, any agreement or plan between the Adviser or a subadviser and a Contract holder regarding a particular investment of a Portfolio; (6) a Contract holder cannot, and will not be able to, communicate directly or indirectly with the Adviser or a subadviser concerning the selection, quality or rate of return on any specific investment or group of investments held by a Portfolio; (7) a Contract holder does not have, and will not have, any current knowledge of a Portfolio’s specific assets other than as may be required to be presented in periodic re...

Fund of Funds. Yes No 5.11 Is the Subscriber a fund of funds, which means a pooled investment vehicle that invests 10% or more of its total assets in other pooled investment vehicles, whether or not they are private funds or registered investment companies? Following the expiration of the Series’ term, the Subscriber will not have any right to receive any distributions from the Series or otherwise share in any future proceeds from a Project earned after the expiration of the Series’ term. It may be the case that a Project continues to generate revenue following the expiration of the Series’ term. Any such revenue would be solely for the benefit of the General Partner (or its designee). Following the expiration of the Series’ term (and at all times subject to applicable law): (i) the General Partner will be entitled to receive 100% of any distributions made by the Series (regardless of whether the Subscriber has received a return of their capital contributions as of the expiration of the Series’ term); (ii) the General Partner may compulsorily redeem the Subscriber; (iii) the General Partner may cause the Series to be terminated and liquidated; and/or (iv) the General Partner may reduce the Subscriber’s capital account balance to zero. Accordingly, the Subscriber will have no guarantee of receiving any returns, as the expiration of the Series’ term (and the subsequent actions of the General Partner following such expiration) may occur prior to a Project generating revenue and resulting in distributions or payments to be made to the Series. Any delays causing a ProjectCo to take longer to realize revenues are likely to reduce revenues and negatively impact the performance of the Series prior to the expiration of the Series’ term, upon which the Subscriber will have no right to participate in or receive any distributions relating to the Project, even if the Project is generating revenue (or anticipated to start generating revenue) at such time. Furthermore, the potential economic benefit received by the General Partner (or its designee) following the expiration of the Series’ term may cause the General Partner to not extend the term of the Series following the expiration of the Series’ initial term. In this context, the divergence of economic interests between the General Partner and the Subscriber involves an inherent conflict of interest. By executing the Subscription Agreement, the Subscriber consents to these terms notwithstanding the conflict of interest. ☐ By checking...

Fund of Funds. The Parties will conduct their business at all times so that no Contract holder will have such incidents of control as will cause a Portfolio’s income and gains to be taxable to the Contract holder as a result of the application of the investor control doctrine enunciated in a series of Revenue Rulings, including Revenue Ruling 7▇-▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇-▇▇▇, ▇▇▇▇▇▇▇ Ruling 81-225, Revenue Ruling 82-54, Revenue Ruling 2003-91 and Revenue Ruling 2007-7, and adopted by C▇▇▇▇▇▇▇▇▇▇▇▇▇ v. U▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇.▇▇ ▇▇▇ (▇▇▇ ▇▇▇. 1985) and J▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ v.