Examples of Designated Portfolio in a sentence
If assets in the Plan are greater than $5 billion, the annualized fee borne by each Designated Portfolio will be reduced below 0.01% based on the assets in such Designated Portfolio such that the entire amount of the fees for all Designated Portfolios equals a fixed annual fee of $500,000, which is paid to the Board as the Board Fee.
Advisor shall not take possession of cash or securities to effect any transaction in Participant's Designated Portfolio Account and shall have no responsibility in connection therewith.
However, if assets in the Plan are less than $1 billion, the Board Fee will be an annual fixed fee equal to $100,000, and Wealthfront (not you as the Account Owner through your investment in a Designated Portfolio) will directly pay the portion of the Board Fee equal to the difference between the 0.01% annualized fee for all Designated Portfolios and the annual fixed fee of $100,000.
Participant authorizes Advisor, in its capacity as transfer agent of the Portfolio, to redeem shares in Participant’s Designated Portfolio Account, and Participant authorizes the custodian of the Portfolio to wire cash from Participant's Designated Portfolio Account to financial institutions that will issue CDs being purchased by Participant.
As a convenience, and to simplify Participant’s record keeping requirements, all principal and interest from the CDs will be credited to Participant’s Designated Portfolio Account promptly upon receipt by the custodian of the Portfolio.