2%/25% Guidelines definition

2%/25% Guidelines has the meaning set forth in Section 13.
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2%/25% Guidelines means the requirement pursuant to the NASAA Guidelines that, in any period of four consecutive fiscal quarters, total Operating Expenses not exceed the greater of 2% of the Company’s Average Invested Assets during such 12-month period or 25% of the Company’s Net Income over the same 12-month period.
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2%/25% Guidelines shall have the meaning set forth in the Charter.
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Examples of 2%/25% Guidelines in a sentence

  • In the event that the Independent Directors do not determine that excess expenses are justified, the Advisor shall reimburse the Corporation the amount by which the expenses exceeded the 2%/25% Guidelines.

  • The Independent Directors shall have the fiduciary responsibility of limiting Total Operating Expenses to amounts that do not exceed the 2%/25% Guidelines unless they have made a finding that, based on such unusual and non-recurring factors that they deem sufficient, a higher level of expenses (an “Excess Amount”) is justified.

  • The Independent Directors shall have the responsibility of limiting Total Operating Expenses to amounts that do not exceed the 2%/25% Guidelines unless they have made a finding that, based on such unusual and non-recurring factors that they deem sufficient, a higher level of expenses (an “Excess Amount”) is justified.

  • Payments to the Advisor pursuant to this Section 13.03 shall be subject to the 2%/25% Guidelines to the extent applicable.

  • An investment opportunity will not be considered suitable for an entity if the 2%/25% Guidelines could not be satisfied if the entity were to make the investment.

  • In the event that the Conflicts Committee does not determine that excess expenses are justified, the Advisor shall reimburse the Corporation at the end of the 12-month period the amount by which the aggregate annual expenses paid or incurred by the Corporation exceeded the 2%/25% Guidelines.

  • In the event that the Independent Directors do not determine that excess expenses are justified, the Advisor shall reimburse the Company the amount by which the expenses exceeded the 2%/25% Guidelines.

  • Within 60 days after the end of any fiscal quarter of the Company for which total Operating Expenses for the Expense Year exceed the 2%/25% Guidelines, the Advisor shall reimburse the Company the amount by which the total Operating Expenses paid or incurred by the Company exceed the 2%/25% Guidelines.

  • If the Independent Directors do not determine that excess expenses are justified, the Advisor shall reimburse the Company at the end of the twelve month period the amount by which the annual expenses paid or incurred by the Company exceeded the 2%/25% Guidelines.

  • After the Termination Date, the Advisor shall be entitled to receive from the Company or the Operating Partnership within thirty (30) days after the effective date of such termination all amounts then accrued and owing to the Advisor, including all its interest in the Company’s income, losses, distributions and capital by payment of an amount equal to the then-present fair market value of the Advisor’s interest, subject to the 2%/25% Guidelines to the extent applicable.


More Definitions of 2%/25% Guidelines

2%/25% Guidelines shall have the meaning set forth in Section 9.5.
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2%/25% Guidelines means the greater of 2% of Average Invested Assets or 25% of Net Income.
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2%/25% Guidelines has the meaning set forth in the Articles of Incorporation.
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2%/25% Guidelines shall have the meaning set forth in Section 13. “Valuation Commencement Date” shall mean the date, as set forth in the Memorandum or as otherwise established by the Board, upon which the Company begins determining a NAV per Share for any class of Common Shares. “Valuation Guidelines” shall mean the valuation guidelines adopted by the Board, as amended or restated from time to time. 2.
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2%/25% Guidelines has the meaning set forth in the Charter. “Units” has the meaning set forth in the Limited Partnership Agreement. “Valuation Policy” means the valuation policy adopted by the valuation committee of the Board of Directors, as amended from time to time. 3 ARTICLE 2
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2%/25% Guidelines shall have the meaning set forth in the Corporate Governance Guidelines.
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Related to 2%/25% Guidelines

  • Valuation Guidelines means the valuation guidelines adopted by the Board, as amended from time to time.

  • Investment Guidelines means the investment guidelines adopted by the Board, as amended from time to time, pursuant to which the Adviser has discretion to acquire and dispose of Investments for the Company without the prior approval of the Board.