THE COMPARTMENTS WITHIN THE FUND Sample Clauses

THE COMPARTMENTS WITHIN THE FUND. The Management Company may create one or more Compartments within the Fund. Each Compartment shall, unless otherwise provided for in the decision of the Management Company creating such Compartment, contain a distinct part of the Fund’s assets and liabilities. The decision of the Management Company creating one or more Compartments within the Fund, as well as any subsequent amendments thereto, shall be binding as of the date of such decision, including against any third party. Each Compartment forms a distinct co-ownership and may be subject to Specific Management Regulations. As between Security Holders and creditors, each Compartment shall be treated as a separate entity. Rights of Security Holders and creditors of the Fund that (i) have, when coming into existence, been designated as relating to a Compartment or (ii) have arisen in connection with the creation, the operation or the liquidation of a Compartment are, except if otherwise provided for in the decision of the Management Company having created such Compartment, strictly limited to the assets of that Compartment and which shall be exclusively available to satisfy such Security Holders and creditors. Creditors and Security Holders of the Fund whose rights are not related to a specific Compartment shall have no rights to the assets of any such Compartment. Unless otherwise provided for in the decision of the Management Company having created a Compartment, no decision may be taken to amend the decision having created such Compartment or to take any other decision directly affecting the rights of the Security Holders or creditors whose rights relate to such Compartment, without the prior approval of all Security Holders or creditors whose rights relate to this Compartment. Any decision taken in breach of this provision shall be void. Each Compartment may be separately liquidated without such liquidation resulting in the liquidation of another Compartment or of the Fund itself. Each Compartment may issue Securities in accordance with the provisions of the Securitisation Law. The rights of the Security Holders and creditors of a specific Compartment are limited to the assets of that Compartment. The assets of a Compartment are exclusively available to satisfy the rights of Security Holders in relation to that Compartment and the rights of creditors whose claims have arisen in connection with the creation, the operation or the liquidation of that Compartment.
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