Pooled Investments Sample Clauses

Pooled Investments. Notwithstanding Article 6.1, assets credited to the Trust and to each Separate Account may be pooled for investment‌ purposes, provided that, except as provided in Article 6.1 with respect to the payment of administrative and investment costs, under no circumstances may the assets credited to a Separate Account be available to meet the liabilities of or to subsidize the liabilities of, or defray the expenses attributable to another Separate Account. For greater clarity, costs associated with the investment of assets that have been pooled pursuant to this Article 6.2 may be payable from the pooled funds, but shall be allocated on a reasonable basis by the Trustees to the Separate Accounts from which such pooled funds derive.
Sample 1Sample 2
AutoNDA by SimpleDocs
Pooled Investments. Assets invested by the Trust Administrator under the terms of this Agreement may from time to time be invested in individual securities, or in a proprietary money market mutual fund or local government investment pool (either, a “Pool”). Each Pool is a commingled fund managed by the Trust Administrator. Average daily net assets subject to the fees described in this section shall not take into account any funds invested in the Pool. Expenses of the Pool, including compensation for the Trust Administrator and the Pool custodian, are described in the relevant prospectus or information statement and are paid from the Pool.
Sample 1Sample 2

Related to Pooled Investments

  • Investments No more than 45% of the “value” (as defined in Section 2(a)(41) of the Investment Company Act of 1940, as amended (“Investment Company Act”)) of the Company’s total assets consist of, and no more than 45% of the Company’s net income after taxes is derived from, securities other than “Government Securities” (as defined in Section 2(a)(16) of the Investment Company Act) or money market funds meeting the conditions of Rule 2a-7 of the Investment Company Act.

  • Loans and Investments No Credit Party shall and no Credit Party shall suffer or permit any of its Subsidiaries to make any Investments, except for: (a) Investments in cash and Cash Equivalents; (b) Investments (i) by the Borrower or any other Credit Party in the Borrower or any Credit Party and (ii) by any Subsidiary that is not a Credit Party in any other Subsidiary that is not a Credit Party; (c) loans or advances to officers, directors and employees of any Credit Party or any Subsidiary of any Credit Party (i) for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes and (ii) in connection with such Person’s purchase of Equity Interests of Borrower (or any direct or indirect parent that wholly-owns the Borrower) to the extent the amount of such loans and advances shall be substantially contemporaneously contributed to the Borrower in cash as common equity, or substantially contemporaneously paid to the Borrower in connection with such purchase of Equity Interests; provided, that, the aggregate principal amount of all loans and advances made pursuant to this clause (c) shall not exceed $2,500,000 at any time outstanding; (d) Investments received as the non-cash portion of consideration received in connection with transactions permitted pursuant to subsection 5.2(b); (e) Investments acquired in connection with the settlement of delinquent Accounts in the Ordinary Course of Business or in connection with the bankruptcy or reorganization of suppliers or customers; (f) Investments consisting of non-cash loans made to officers, directors and employees of any Credit Party or any of their Subsidiaries that are used by such Persons to purchase simultaneously Equity Interests of any direct or indirect parent of the Borrower; (g) Investments existing on the Closing Date and set forth in Schedule 5.4 or an Investment consisting of any extension, modification, replacement, renewal or reinvestment of any such Investment; (h) guarantees of Indebtedness permitted under Section 5.5(k), performance guarantees and Contingent Obligations incurred in the Ordinary Course of Business (as long as the primary obligor with respect to such Contingent Obligation is the Borrower or any Subsidiary) and the creation of Liens on the assets of the Borrower or any Subsidiary in compliance with Section 5.1 (other than subsection 5.1(v) and/or 5.1(z)(i)); (i) [reserved]; (j) [reserved]Investments in SPV Subsidiaries and/or ABS Note Subsidiaries that are required pursuant to the terms of (x) the ABS Documentation or (y) Permitted Receivables Facility Documents in connection with a Permitted Receivables Facility; (k) the maintenance of deposit accounts and securities accounts in the Ordinary Course of Business; (l) Investments constituting (i) accounts receivable arising, (ii) trade debt granted or (iii) deposits made in connection with the purchase price of goods or services, in each case, in the Ordinary Course of Business; (m) [reserved]; (n) Investments by way of contributions to capital or purchases of Equity Interests by any Credit Party in any of its Subsidiaries that are Credit Parties; (o) Investments in hedging contracts entered into in the Ordinary Course of Business for bona fide hedging purposes and not for speculation; (p) so long as no Event of Default shall have occurred and be continuing or would occur as a result thereof, other Investments in an aggregate amount not to exceed at any time outstanding $5,000,000, in each case determined as of the date of such Investment; (q) Investments in Non-Credit Parties in an amount not to exceed $3,000,000 in the aggregate; (r) Rate Contract obligations; (s) [reserved]; (t) [reserved]; (u) Investments (including debt obligations and Equity Interests) received in connection with the bankruptcy or reorganization of suppliers and customers or in settlement of delinquent obligations of, or other disputes with, customers and suppliers arising in the Ordinary Course of Business or upon the foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment; (v) endorsements of negotiable instruments for deposit or collection in the Ordinary Course of Business; (w) deposits of cash made in the Ordinary Course of Business to secure performance of leases; (x) Investments to the extent that payment for such Investments is made solely with Equity Interests (other than any Disqualified Equity) of the Borrower (or Equity Interests of any direct or indirect parent of the Borrower, or with the proceeds of any substantially contemporaneous sale of Equity Interests, other than Disqualified Equity, of the Borrower or any direct or indirect parent of the Borrower) not resulting in a Change of Control[reserved]; (y) to the extent constituting Investments, the creation of Liens, the making of fundamental changes, the consummation of Dispositions, and the making of Restricted Payments permitted under Sections 5.1 (other than subsections 5.1(v) and/or 5.1(z)(i)), 5.2, 5.3 (other than subsections 5.3(a), 5.3(c) and/or 5.3(e)) and 5.7 (other than subsection 5.7(g)), respectively; and (z) Guarantees by any Credit Party or any of its Subsidiaries of leases (other than Capital Leases) or of other obligations that do not constitute Indebtedness. Notwithstanding anything in this Section 5.4 to the contrary, no Credit Party shall make, and no Credit Party shall suffer or permit any of its Subsidiaries to make, Investments in any Person who is an Affiliate of the Borrower, other than the Borrower and its Subsidiaries.

  • Investment of Contributions At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!