Issue of Units. Units shall be issued on every issue date at the net asset value per unit of the AIF or unit class as at the valuation date, plus any applicable issue commission and plus any taxes and duties. The units exist only in book-entry form. Units shall not be issued or redeemed in fractions. No physical unit certificates shall be issued. Subscription applications must reach the Depositary not later than the acceptance deadline. If a sub- scription application is received after the acceptance deadline, it shall be held over for the next issue date. With the agreement of the investor concerned the AIFM may accept subscription applications even after said deadline, providing this does not disadvantage other investors. For applications placed with authorised distributors in Liechtenstein and abroad, earlier deadlines may be set for submission of applications in order to ensure punctual forwarding to the Depositary in Liech- tenstein. Such earlier deadlines may be obtained from the relevant authorised distributor. Information on the issue date, the acceptance deadline and the maximum amount of any applicable issue commission is given in Annex B, "AIF summary". Payment must be made within a specified period (value date). The value date is indicated in Annex B, "AIF summary". The AIFM shall ensure that settlement for newly issued units is made on the basis of a net asset value per unit unknown to the investor at the time the subscription application was made (forward pricing). All taxes and duties payable on the issue of units shall likewise be charged to the investors. If units are acquired through banks that are not entrusted with distributing the units, the possibility cannot be ruled out that such banks will levy additional transaction charges. If payment is made in a currency other than the accounting currency, the equivalent value resulting from the conversion of the payment currency into the accounting currency, minus fees, shall be applied to the purchase of units. The minimum investment that an investor must hold in a particular unit class is stated in Annex B, "AIF summary". Contributions in kind shall not be permitted. The AIFM and the Depositary shall be entitled at any time to reject a subscription application or to temporarily restrict, suspend or permanently halt the issue of units if they deem such a move to be in the best interests of the investors, in the public interest or necessary for the protection of the AIFM, the AIF or the investors and in parti...
Issue of Units. 12 Section 2.04. Form of Certificates........................................................................12 Section 2.05. Deposit of Additional Securities............................................................12 Section 2.06. Register of Units...........................................................................14
Issue of Units. 23.1 The Management Company shall be responsible for obtaining all requisite consents and approvals for the offer and issue of Units and for the issue, publication or circulation of the Offering Documents.
23.2 Except as provided herein the Units shall be offered at the authorized offices or branches of the Distribution Company on all Dealing Days.
23.3 Application for issuance of Units shall be made by completing the prescribed application form and submitting it with the payment by cheque or bank draft, pay order, credit card etc. in favor of the Trustee and crossed “Account Payee Only” at the authorized branch or office of any Distribution Company. The application for issuance of the Units and the specimen signature of each Holder shall be retained by the relevant Distribution Company with copies supplied to the Transfer Agent, if so required by the Management Company. The Distribution Company shall verify the particulars given in the application for issuance of Units and the documents submitted therewith and ensure that the signature of any Holder or joint Holder to any document required to be signed by him under or in connection with the application for issue of Units are verified to reasonable satisfaction.
23.4 Each Unit Holder(s) shall be liable to pay the Purchase (Offer) Price of the Units subscribed by him and no further liability shall be imposed on him in respect of any Units held by him. The Units shall be issued in fractions upto four decimal points, only against receipt of full payment.
23.5 An application for purchase of Units shall be deemed to have been made in accordance with the provisions of the Offering Document, if the Account Holder / Unit Holder authorize automatic issuance of Units under certain circumstances.
Issue of Units. 14 (A) The Manager shall have the exclusive right to create and issue Units that constitute the Trust on behalf of the Trust. Units shall be issued and created only on a Dealing Day. The Manager shall not be bound to accept any application for Units having a total face value of less than Rupees One Thousand (Rs. 1,000/-). Notwithstanding the above, the Manager shall have an absolute discretion to accept or not to accept in whole or in part any application for Units. The Units shall be issued at the Issue Price. No fractions of Units shall be issued. Provided however that the Manager may in computing the number of Units to be issued in any given instance, issue Units that are rounded off to two decimals or as may be otherwise decided on by the Manager.
Issue of Units. Initially, Units may be purchased on the Initial Subscription Day at the Initial Subscription Price. Thereafter, Units are available at the Subscription Price on each Subscription Day.
Issue of Units. Initially, Units may be purchased on the Initial Subscription Day at the Initial Subscription Price. Thereafter, Units are available at the Subscription Price on each Subscription Day. The Management Company has absolute discretion to accept or reject in whole or in part any application for Units. Consequently, the Management Company reserves the right to reject subscription applications from investors that do meet the eligibility requirements of a particular Class.
Issue of Units. By executing the Reference Trust Agreement, the Trustee will thereby acknowledge receipt of the deposit relating to the Trust to which such Reference Trust Agreement relates, referred to in Section 2.01, and simultaneously with the receipt of said deposit, will either (a) record on its books for the account of the Depositor the aggregate number of Units of the Trust issued in exchange therefor or (b) execute Certificates substantially in the form above recited representing the ownership of all Units of the Trust, as specified in Part II of the Reference Trust Agreement and deliver same to the Depositor. The number of Units may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, which revised number of Units shall be recorded by the Trustee on its books. The Trusts created by this Indenture are separate and distinct trusts for all purposes and the assets of one such trust may not be commingled with the assets of any other nor shall the expenses of any such trust be charged against the other. The Units or Certificates therefor representing the ownership of a fractional undivided interest in one Trust shall not be exchangeable for Units or certificates representing the ownership of an undivided fractional interest in any other.
Issue of Units. 5 Section 2.4. Certain Contracts Satisfactory.............................................................6 Section 2.5. Deposit of Additional Securities...........................................................6
Issue of Units. The Trustee hereby acknowledges receipt of the deposit referred to in Section 2.1, and simultaneously with the receipt of said deposit, pursuant to the Depositors' direction, has registered on the registration books of the Trust the ownership by the Depositors of such Units or, if requested by the Depositors, the ownership by DTC of all of such Units and will cause such Units to be credited at DTC to the account of the Depositors or, pursuant to the Depositors' direction and as hereafter provided, the account of the issuer of the letter of credit referred to in Section 2.01. The Depositors shall not sell, pledge, hypothecate or otherwise transfer such Units, prior to the effectiveness of the registration statement covering the Units filed with the Securities and Exchange Commission under the Securities Act of 1933, except that the Depositors may place the Units as security for any letter of credit provided in connection with the deposit of contracts described in Section 2.1. The number of Units may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositors, on any day on which the Depositors are the only Unitholders, which revised number of Units shall be recorded by the Trustee on its books.
Issue of Units. By executing the Reference Trust -------------- Agreement, the Trustee will thereby acknowledge receipt of the deposit relating to the Trust to which such Reference Trust Agreement relates, referred to in Section 2.1, and simultaneously with the receipt of said deposit, pursuant to the Depositors' written direction, will register on the registration books of the Trust the ownership by the Depositors of such Units or, if requested by the Depositors, the ownership by DTC of all of such Units and will cause such Units to be credited at DTC to the account of the Depositors or, pursuant to the Depositors' direction and as hereafter provided, the account of the issuer of the letter of credit referred to in Section 2.01. The Depositors shall not sell, pledge, hypothecate or otherwise transfer such Units, prior to the effectiveness of the registration statement covering the Units filed with the Securities and Exchange Commission under the Securities Act of 1933, except that the Depositors may place the Units as security for any letter of credit provided in connection with the deposit of contracts described in Section 2.1. The number of Units may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositors, on any day on which the Depositors are the only Unitholders, which revised number of Units shall be recorded by the Trustee on its books.
