Registration and Regulation Sample Clauses

Registration and Regulation. The FBR Funds is duly registered with the Commission as an investment company under the Investment Company Act, and all shares of the FBR Series Funds which, since its organization, have been or are being offered for sale have been duly registered under the Securities Act and have been duly registered, qualified or are exempt from registration or qualification under the securities laws of each state or other jurisdiction in which such shares have been or are being offered. The FBR Series Funds are in compliance with all applicable laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act, the Securities Exchange Act and all applicable state securities laws, except where the failure to be so in compliance would not have a Material Adverse Effect on Seller or the FBR Series Funds. The FBR Series Funds are in compliance with the investment policies and restrictions set forth in its registration statement currently in effect under the Securities Act. The value of the net assets of the FBR Series Funds is determined pursuant to the requirements of the Investment Company Act and purchases and redemptions of shares of the FBR Series Funds, since its organization have been effected at the net asset value per share calculated in such manner. There are no legal or governmental actions, investigations, inquiries or proceedings pending or threatened against the FBR Series Funds which could reasonably be expected to have a Material Adverse Effect on Seller or the FBR Series Funds.

Registration and Regulation. The Henlopen Fund is duly registered with the Commission as an investment company under the Investment Company Act, and all shares of The Henlopen Fund which, since its organization, have been or are being offered for sale have been duly registered under the Securities Act and have been duly registered, qualified or are exempt from registration or qualification under the securities laws of each state or other jurisdiction in which such shares have been or are being offered. The Henlopen Fund is in compliance with all applicable laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act, the Securities Exchange Act and all applicable state securities laws, except where the failure to be so in compliance would not have a Material Adverse Effect on Seller or The Henlopen Fund. The Henlopen Fund is in compliance with the investment policies and restrictions set forth in its registration statement currently in effect under the Securities Act, except where the failure to be so in compliance would not have a Material Adverse Effect on Seller or The Henlopen Fund. The value of the net assets of The Henlopen Fund is determined pursuant to the requirements of the Investment Company Act and purchases and redemptions of shares of The Henlopen Fund, since its organization has been effected at the net asset value per share calculated in such manner. There are no legal or governmental actions, investigations, inquiries or proceedings pending or threatened against The Henlopen Fund which could have a Material Adverse Effect on the condition (financial or otherwise) of Seller or The Henlopen Fund.

Registration and Regulation. Each of the ▇▇▇▇▇▇▇▇ Funds are duly registered with the Commission as investment companies under the Investment Company Act, and all shares of each of the ▇▇▇▇▇▇▇▇ Funds which, since their organization, have been or are being offered for sale have been duly registered under the Securities Act and have been duly registered, qualified or are exempt from registration or qualification under the securities laws of each state or other jurisdiction in which such shares have been or are being offered. Each of the ▇▇▇▇▇▇▇▇ Funds are in compliance with all applicable laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act, the Securities Exchange Act and all applicable state securities laws, except where the failure to be so in compliance would not have a Material Adverse Effect on Buyer or the ▇▇▇▇▇▇▇▇ Funds (or any of them). Each of the ▇▇▇▇▇▇▇▇ Funds are in compliance with the investment policies and restrictions set forth in their registration statements currently in effect under the Securities Act, except where the failure to be so in compliance would not have a Material Adverse Effect on Buyer or the ▇▇▇▇▇▇▇▇ Funds (or any of them). The value of the net assets of each of the ▇▇▇▇▇▇▇▇ Funds is determined pursuant to the requirements of the Investment Company Act and purchases and redemptions of shares of the ▇▇▇▇▇▇▇▇ Funds, since their organization have been effected at the net asset value per share calculated in such manner. There are no legal or governmental actions, investigations, inquiries or proceedings pending or threatened against the ▇▇▇▇▇▇▇▇ Funds which could have a Material Adverse Effect on the condition (financial or otherwise) of Buyer or the ▇▇▇▇▇▇▇▇ Funds (or any of them).

Registration and Regulation. AIM Equity is registered with the SEC under the Investment Company Act as an open-end, management, series, investment company and the Portfolio has elected to qualify as a regulated investment company under Section 851 of the Code. On the Closing Date the Portfolio will be in compliance in all material respects with all applicable laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act, the Exchange Act and all applicable state securities laws. On the Closing Date the Portfolio will be in compliance in all material respects with the applicable investment policies and restrictions set forth

Registration and Regulation. The Registered Fund is duly registered with the SEC as an investment company under the Investment Company Act, and all shares of the Registered Fund, which since its organization, have been or are being offered for sale: (i) have been duly registered under the Securities Act; and (ii) have been duly registered, qualified or are exempt from registration or qualification under the securities Laws of each state or other jurisdiction in which such shares have been or are being offered. Since the Lookback Date, the Registered Fund has been in compliance with all applicable Laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act and all applicable state securities Laws, in each case, in all material respects. To the Knowledge of the Company, the value of the net assets of the Registered Fund is determined pursuant to the requirements of the Investment Company Act. Except as set forth on Schedule 4.24(b) of the Disclosure Schedules, there are, and since the Lookback Date, there have been, no legal or governmental actions, investigations or proceedings pending or, to the Knowledge of the Company, threatened against the Registered Fund.

Registration and Regulation. WCM does not provide Investment Management Services to any Persons other than the Public Funds. Each of the Public Funds is duly registered with the SEC as an investment company under the Investment Company Act, and all shares of each of the Sponsored Funds, and to the Knowledge of WCM, each Subadvised Fund, which since its organization have been or are being offered for sale (i) have been duly registered under the Securities Act, and (ii) have been duly registered, qualified or are exempt from registration or qualification under the securities laws of each state or other jurisdiction in which such shares have been or are being offered. Since January 1, 2017, each of the Sponsored Funds, and to the Knowledge of WCM, each Subadvised Fund, has been in compliance with all applicable laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act and all applicable state securities laws, in each case in all material respects. The value of the net assets of each of the Sponsored Funds, and to the Knowledge of WCM, each Subadvised Fund, is determined pursuant to the requirements of the Investment Company Act. Except as set forth on Schedule 5.24(b), there are, and since January 1, 2017 there have been, no legal or governmental actions, investigations, inquiries or proceedings pending or, to the Knowledge of WCM, threatened against the Sponsored Funds or a Subadvised Fund.

Registration and Regulation. To the Knowledge of Seller, TwinLine Funds Trust is duly registered with the Commission as an investment company under the Investment Company Act, and all shares of the TwinLine Funds that, since their organization, have been or are being offered for sale have been duly registered under the Securities Act and have been duly registered, qualified, or are exempt from registration or qualification under the securities Laws of each state or other jurisdiction in which such shares have been or are being offered. To the Knowledge of Seller, the TwinLine Funds are in compliance with all applicable Laws, including, without limitation, the Investment Company Act, the Securities Act, the Securities Exchange Act and all applicable state securities Laws. The TwinLine Funds are in compliance with the investment policies and restrictions set forth in its registration statement currently in effect under the Securities Act. The value of the net assets of each of the TwinLine Funds is determined pursuant to the requirements of the Investment Company Act, and purchases and redemptions of shares of the TwinLine Funds since their organization have been effected at the net asset value per share calculated in such manner. To the Knowledge of Seller, there are no legal or governmental actions, investigations, inquiries, or proceedings pending or threatened against the TwinLine Funds or TwinLine Funds Trust.

Registration and Regulation. The Westport Trust is duly registered with the Commission as an investment company under the Investment Company Act, and all shares of the Westport Series which, since their organization, have been or are being offered for sale have been duly registered under the Securities Act and have been duly registered, qualified or are exempt from registration or qualification under the securities laws of each state or other jurisdiction in which such shares have been or are being offered. The Westport Series are in material compliance with all applicable laws, rules and regulations, including, without limitation, the Investment Company Act, the Securities Act, the Securities Exchange Act and all applicable state securities laws. The Westport Series are in compliance with the investment policies and restrictions set forth in its registration statement currently in effect under the Securities Act. The value of the net assets of the Westport Series is determined pursuant to the requirements of the Investment Company Act and purchases and redemptions of shares of the Westport Series, since their organization have been effected at the net asset value per share calculated in such manner. There are no legal or governmental actions, investigations, inquiries or proceedings pending or threatened against the Westport Trust or the Westport Series.