Separate Agreement for Each Fund Sample Clauses
The "Separate Agreement for Each Fund" clause establishes that each fund involved in a transaction or relationship will be governed by its own distinct agreement, rather than being collectively bound under a single contract. In practice, this means that if a party manages multiple funds, each fund will enter into a separate agreement with the counterparty, and the rights, obligations, and liabilities of one fund will not affect or be shared with another. This approach ensures that the legal and financial responsibilities are clearly segregated, reducing the risk of cross-liability and providing clarity for all parties involved.
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Separate Agreement for Each Fund. This Agreement is drafted, and shall be construed, as a separate agreement between the Trustee and each of the Funds. 1 Code Section 409A(a)(2)(C) provides the following definition of “disabled”: For purposes of subparagraph (A)(ii), a participant shall be considered disabled if the participant—
(i) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or
(ii) is, by reason of any medically determinable physical or mental impairment, which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the participant’s employer.
Separate Agreement for Each Fund. This Agreement is drafted, and shall be construed, as a separate agreement between the Director and each of the Funds.