Common use of Initial Allocation of Contribution Units Clause in Contracts

Initial Allocation of Contribution Units. The assets of a Sub-Fund shall at its initial creation be constituted out of the Contributions paid in respect of an allocation of Contribution Units under the Unit Linked Policies (or, where relevant, out of the seed investments made in connection with the Sub-Fund) at a price per Contribution Unit, expressed in the currency in which such Contribution Unit is denominated, which shall be offered on the initial Dealing Day as determined by MPF. The Contributions so received by MPF under the relevant Unit Linked Policy or Policies shall thereupon constitute the initial assets of the Sub- Fund.

Initial Allocation of Contribution Units. The assets of a Sub-Fund shall at its initial creation be constituted out of the Contributions paid in respect of an allocation of Contribution Units under the Unit Linked Policies MPF Policy (or, where relevant, out of the seed investments made in connection with the Sub-Fund) at a price per Contribution Unit, expressed in the currency in which such Contribution Unit is denominated, which shall be offered on the initial Dealing Day as determined by MPF. The Contributions so received by MPF under the relevant Unit Linked MPF Policy or Policies shall thereupon constitute the initial assets of the Sub- Sub-Fund.