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.
Appears in 65 contracts
Samples: Joint Liability Insurance Agreement (Variant Alternative Lending Fund), Joint Liability Insurance Agreement (Aspiriant Risk-Managed Real Assets Fund), Joint Liability Insurance Agreement (First Trust Hedged Strategies Fund)
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 Bond in such amount as determined by the Boards or if the Boards determine that the Policy 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 Policy Bond to the Funds for six (6) years from the date of termination of the PolicyBond.
Appears in 63 contracts
Samples: Joint Insured Bond Agreement (Variant Alternative Lending Fund), Joint Insured Bond Agreement (FT Vest Total Return Income Fund: Series A3), Joint Insured Bond Agreement (Aspiriant Risk-Managed Capital Appreciation Fund)
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 Bond in such amount as determined by the Boards or if the Boards determine that the Policy 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 Policy Bond to the Funds for six (6) years from the date of termination of the PolicyBond.
Appears in 3 contracts
Samples: Joint Insured Bond Agreement (First Trust Hedged Strategies Fund), Joint Insured Bond Agreement (Variant Alternative Income Fund), Joint Insured Bond Agreement (Variant Alternative Income Fund)
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.
Appears in 2 contracts
Samples: Joint Liability Insurance Agreement (First Trust Hedged Strategies Fund), Joint Liability Insurance Agreement (Variant Alternative Income Fund)
