Operation of the Fund. 4.1 Seneca Partners will provide the Fund, and the Agreement will commence with effect from the date being 14 days after acceptance of your Application Form.
4.2 In providing the Fund, we will (normally acting as your agent) have complete discretion to exercise powers in relation to the selection of, or exercising rights relating to, investments to be made or which have been made on your behalf via the Fund (the “Investments”). This discretion shall include, without limitation, the exercise of all conversion, subscription, voting and other rights such as may arise in respect of the Investments and any decision to sell, redeem or otherwise realise all or any part of the Investments on your behalf.
4.3 We have engaged the Custodian to provide administration and safe custody services in relation to the Investments and cash received by way of Subscriptions or otherwise.
4.4 Except as expressly provided in the Agreement (or unless otherwise authorised), Seneca Partners shall not have any authority to act on your behalf or to act as your agent.
4.5 In providing the Fund, we will also arrange transactions in relation to the Investments and we have agreed to undertake various responsibilities such as sourcing potential Investments, conducting due diligence, monitoring performance and arranging appropriate exits. We have appointed an Investment Committee who shall maintain oversight in relation to such matters and details of those persons who form this committee upon your acceptance into the Fund are set out in the Information Memorandum.
Operation of the Fund. Except as otherwise provided herein, this Agreement shall not limit the authority of the Feeder Fund to take such action as it may deem appropriate or advisable in connection with all matters relating to the operation of the Feeder Fund and the sale of interests in the Feeder Fund.
Operation of the Fund. Coast Funds shall manage the Marine Stewardship Fund and disburse endowment income in accordance with:
(a) the GBS PFP Financial Plan, attached to the GBS PFP Closing Agreement;
(b) the Investment Plan and Investment Guidelines;
(c) the GBS PFP Tier 1 Agreement, and specifically the GBS PFP Allocation Model attached as Schedule 1 and the Coast Funds’ Processes and Fund Criteria attached as Schedule 2 to such agreement;
(d) Coast Fund’s manual of operations for the GBS PFP, which includes the process for funding approvals, eligibility criteria, permitted activities and other relevant information with respect to the administration of the PFP Funds, including the Marine Stewardship Fund (the “Manual of Operations”); and
(e) any other policies maintained by Coast Funds that are applicable to the management of the Marine Stewardship Fund, in each case as may be amended from time to time.
Operation of the Fund. During the Term of this Agreement, DHCM will file, or cause to be filed, all periodic reports and statements with all Authorities and continuously operate and manage the Fund in the Territory and offer and sell shares of the Fund to the public, in compliance with all Applicable Laws.
Operation of the Fund. Pursuant to written instructions to the New York State Comptroller dated August [ ], 2021, the Commissioner of Finance and the President of the Board of Education of the School District have directed the New York State Comptroller's Office to deposit all State Aid to Education into the Fund except for any amount of State Aid to Education withheld from the City or School District in accordance with the provisions of the Act.
Operation of the Fund. The Fund Manager will be responsible for delivering programme, financial, procurement and staff management functions following GoR procedures and compatible with GoR systems, ensuring high level of quality control across these tasks. At the end of the 3‐month Inception Phase, the Fund Manager will deliver outputs specified in Section 6 – Deliverables below. Progress to the Implementation Phase will be dependent upon approval of the implementation plan by DFID and the GoR, and the satisfactory performance of the FMT.
Operation of the Fund. 13 Administrative Budget The Board shall arrange for the preparation of an annual administrative budget by 1 September each year.
Operation of the Fund
