Fund Size. The aggregate Commitments of Common Unitholders together with the commitments, if any, of Preferred Unitholders to the Company shall not exceed $3 billion.
Fund Size. The parties hereto acknowledge that the intended functioning of the Fund for the purposes designated herein is not practicable unless and until the principal of the Fund is at least $ . Accordingly, the parties agree that there shall be no disbursements form the Fund of any kind whatsoever until the amount of the Fund is at $ . In the event that the principal amount of the Fund shall not equal or exceed $ at any time after two (2) years from the date of this Agreement, or in the event that the principal amount of the Fund shall be less than $ at any time thereafter, the Foundation, after considering any recommendation which the Sponsor may wish to make, reserves the right to terminate this Agreement by (a) transferring the residue of the Fund to the if then in existence and still qualified as an exempt organization under Section 501(c)(3) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law), or (b) transferring the residue of the Fund to if then in existence and still qualified as an exempt organization under Section 501(c)(3) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue law), such residue to be held by the successor charitable organization as a special endowment for the same purposes as set forth herein, or (c) holding the residue for the general purposes of the Foundation.
Fund Size. The fund or combination of funds consolidated for investment purposes must be of sufficient size to enable diversification in accordance with the Community Foundation investment policy, to ensure efficiency in management, and to minimize management expenses. Generally, a fund or a combination of funds consolidated for investment purposes in excess of $150,000 is considered for management outside the Community Foundation’s primary investment pools.
Fund Size. The aggregate Commitments of Members shall not exceed $1.0 billion.
Fund Size. Smaller funds place smaller trades and have lower bargaining power with brokers. Hence, one may expect smaller funds to pay higher brokerage commissions. We saw in Table 18 that fund size is negatively related to brokerage commissions. To make sure that single broker funds that use affiliated brokers or selling brokers for trade execution are not paying a higher brokerage commission just because they are smaller than other funds, I split the sample of single broker funds into small, medium and large funds. Within each group, I investigate how the brokerage commission rates differ for funds that use affiliated broker or selling broker for trade execution from the ones that did not use affiliated broker or selling broker for trade execution. Table 29 provides the mean brokerage commission for each group and shows that for all fund size groups, funds that use affiliated brokers or selling brokers paid much higher brokerage commissions than the funds that did not use affiliated or selling broker. Hence the higher brokerage commissions paid by funds that used their affiliated broker or their selling broker cannot be attributed to fund size.
