Premium Due Upon Liquidation of Fund or Departure from Program. In the event that a Fund (a) liquidates or (b) undertakes to remove itself from the fund solutions program (currently known as “registered fund solutions”), then such Fund will be obligated to pay an amount for tail coverage under the Policy in such amount as determined by the Boards or if the Boards determine that the Policy shall be terminated, such Fund will be obligated to pay an amount equal to its pro rata share of the total cost to provide tail coverage under the Policy to the Funds for six (6) years from the date of termination of the Policy.
Premium Due Upon Liquidation of Fund or Departure from Program. In the event that a Fund (a) liquidates or (b) undertakes to remove itself from the fund solutions program (currently known as “registered fund solutions”), then such Fund will be obligated to pay an amount for tail coverage under the Bond in such amount as determined by the Board of Trustees or if the Board of Trustees determines that the Bond shall be terminated, such Fund will be obligated to pay an amount equal to its pro rata share of the total cost to provide tail coverage under the Bond to the Funds for six (6) years from the date of termination of the Bond.
Premium Due Upon Liquidation of Fund or Departure from Program. (i) In the event that a Fund (a) liquidates or (b) undertakes to remove itself from the registered fund solutions program (the “Program”) and there are two or more Funds remaining in the Program, then such Fund will be obligated to pay an amount for tail coverage under the Policy in such amount as determined by the Board of Trustees.
