Exempt Account means (i) a “blind trust” or similar arrangement under which the person is prohibited by contract from communicating with or providing specific instructions to the manager of the Account regarding the purchase or sale of specific securities for the Account, (ii) any private investment partnership or company in which Clough Capital is a general partner or for which Clough Capital provides investment management services (“Clough Capital Funds”), (iii) any partnership interests or shares issued by any Clough Capital Funds, and (iv) any securities issued by any Clough Capital entity. An account shall be deemed an Exempt Account if the CCO makes such determination after reviewing all relevant facts.

Exempt Account means an account that is exempt from the Initial and Annual Holdings Reports and the Quarterly Transaction Report requirements (as described herein). Any account that holds only open-ended mutual funds and is not used by the Access Person, his or her spouse or domestic partner, or any immediate family member residing with such Access Person, for any transactions in Covered Securities, can be treated as an Exempt Account. Other accounts can be granted Exempt Account status if the Access Person can provide the CCO with satisfactory documentation that the Access Person exercises “no control” over the investment decisions made regarding the security.

Examples of Exempt Account in a sentence

In addition, securities transactions effected in an Exempt Account do not require pre-trade clearance.
A Toll Exempt Account may not be used for payment on this Toll Facility.
Supervised Persons are only permitted to purchase or sell publicly traded equity securities through: (i) an account managed by Vulcan; (ii) a Vulcan Fund; or (iii) an Exempt Account.
To the extent such Deposit Account is not an Exempt Account or otherwise subject to the control of the lender(s) in relation to an Approved AR Loan Facility, Borrower or such other applicable Loan Party and the bank or other financial institution at which the account is to be opened after the Closing Date shall promptly enter into an Account Control Agreement, in form and substance reasonably satisfactory to Agent, as requested by Agent.
A prepayment is not required for a Toll Exempt Account although you will still be responsible for other fees/fines resulting from a Toll Facility Violation (see Section 8.2).

More Definitions of Exempt Account

Exempt Account means (i) a "blind trust" or similar arrangement under which the person is prohibited by contract from communicating with or providing specific instructions to the manager of the Account regarding the purchase or sale of specific securities for the Account, (ii) any private investment partnership or company in which the Company is a general partner or for which the Company provides investment management services ("Company Funds"), (iii) any partnership interests or shares issued by any Company Funds, and (iv) any securities issued by any Company. An account shall be deemed an Exempt Account if the Compliance Officer makes such determination after reviewing all relevant facts.

Exempt Account means any account where a Supervised Person does not exercise investment discretion or otherwise have direct or indirect influence or control, including but not limited to: (1) Managed Accounts; (2) blind trusts; (3) any accounts (e.g., brokerage, 401k, 403(b)) that hold mutual funds; (4) variable annuities held directly at the carrier; and (5) 529 plans (provided that neither Vulcan nor any of its affiliates manages, distributes, markets, or underwrites the 529 Plan).

Exempt Account means an account (often referred to as a “blind trust”) over which the Access Person has no direct or indirect influence or control. An account shall be deemed an Exempt Account only if the CCO makes such determination after reviewing all relevant facts.

Exempt Account means theaccount of a qualified eligible person that is directed or guided by a commodity trading advisor pursuant to an effective claim for exemption under§ 4.7.

Exempt Account means any deposit account, securities account or other similar account (i) into which there is deposited no funds other than those intended solely to cover wages for employees of the Loan Parties for a period of service no longer than two weeks at any time (and related contributions to be made on behalf of such employees to health, benefit and retirement plans) plus balances for outstanding checks for wages from prior periods; (ii) constituting employee withholding accounts and contain only funds deducted from pay otherwise due to employees for services rendered to be applied toward the tax obligations of such employees; (iii) zero balance accounts, (iv) accounts in which pledges or cash deposits permitted by Section 6.02(n) are maintained, and (v) accounts established in order to comply with licensing requirements applicable to the Loan Parties so long as the amount on deposit in (i) any individual deposit account does not exceed $15,000 and (ii) all such deposit accounts does not exceed $100,000 in the aggregate.

Exempt Account means any Compliance approved account where a Supervised Person does not exercise investment discretion or otherwise have direct or indirect influence or control, including but not limited to: (1) certain accounts that only hold non-Vulcan mutual funds; (2) variable annuities held directly at the carrier; and (3) 529 plans (provided that neither Vulcan nor any of its affiliates manages, distributes, markets, or underwrites the 529 Plan).

Exempt Account means any Deposit Account or Securities Account maintained by Grantors that is (x) exclusively used for payroll, payroll taxes or employee benefits, (y) a zero balance disbursement account, or (z) an account containing not more than $150,000 at any one time, provided, however, that amounts on deposit in all such accounts under this clause (z) do not exceed $1,000,000 at any time; provided, further, that any account subject to a control agreement for the benefit of the ABL Administrative Agent shall not be an Exempt Account.