Illiquid Investment definition

Illiquid Investment means, as of any date, any Investment that has any material condition to or restriction on the ability of the Borrower, the Lenders or any assignee of either thereof to sell, assign, transfer, pledge, hypothecate or otherwise encumber or liquidate the same in a commercially reasonable time and manner (other than customary securities law arrangements or restrictions), whether or not such condition or restriction is intrinsic to such Investment, provided that any condition or restriction that could reasonably be expected to (a) prohibit or delay any such sale, assignment, transfer, pledge, hypothecation, encumbrancing or liquidation for more than seven (7) Business Days, or (b) require any payment (other than a nominal amount) in connection therewith, shall be deemed to be such a material condition or restriction within the meaning of this defined term.
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Illiquid Investment means, as of any date, any Investment that has any material condition to or restriction on the ability of the Borrower, the Bank, or any assignee of either thereof to sell, assign, transfer, pledge, hypothecate or otherwise encumber or liquidate the same in a commercially reasonable time and manner (other than customary securities law arrangements or restrictions), whether or not such condition or restriction is intrinsic to such Investment, provided that (a) any condition or restriction that could reasonably be expected to (i) prohibit or delay the settlement (other than in the case of a Bank Loan) of any such sale, assignment, transfer, pledge, hypothecation, encumbrancing or liquidation for more than seven (7) days, or (ii) require any payment (other than a nominal amount) in connection therewith, shall be deemed to be such a material condition or restriction, and (b) in the event that the Borrower enters into any arrangement pursuant to which any Investment (other than a Bank Loan) is to be sold or otherwise transferred by the Borrower and such sale or transfer is not settled within seven (7) days, such Investment shall be deemed to be an Illiquid Investment.
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Illiquid Investment means, as of any date:
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Examples of Illiquid Investment in a sentence

  • Distributions and redemptions with respect to Side Pocket Shares will be effected periodically as portions of the relevant Illiquid Investment are liquidated for cash or are otherwise realized or become available for distribution in the sole discretion of the Directors or their delegate.

  • The statistical return for the period April to June 2014 is contained within Appendix 1.

  • In the event such Side Pocket Shares are established, the Directors will issue to each redeeming Shareholder in that Fund for the particular Redemption Day, in exchange for its Shares and in partial satisfaction of the redemption price, Side Pocket Shares which shall correspond with each such Shareholder’s pro rata portion of such Illiquid Investment.

  • There may be more than one class of S Share, depending upon the timing of any underlying fund becoming illiquid.Shareholders at the date of issue of S Shares will have a right to any proceeds of realisation or income received from the Illiquid Investment concerned.S Shares will not be redeemable at the option of the Shareholder.

  • A Shareholder entitled to S Shares may redeem his Shares but will retain his entitlement to the S Shares until the Illiquid Investment is realised or considered by the Directors, after consultation with the Investment Manager and the Administrator, to have become liquid or to have no value.

  • The Directors shall create a separate class of S Shares for each investment which is designated by the Directors as an Illiquid Investment after its acquisition by the Company and upon the designation of the Illiquid Investment shall procure the issue of the S Shares to each Member who holds Participating Shares pro rata to the number of Participating Shares held.

  • A holder of Participating Shares at the time the investment is deemed illiquid will have a proportionate interest in that Illiquid Investment even if the holder subsequently redeemed their Participating Shares.

  • A holder of Participating Shares at the date of issue of a class of S Shares will have the right to any proceeds of realisation or income received from the Illiquid Investment concerned.

  • In the event such Side Pocket Shares are established, the Directors will issue to each redeeming Shareholder in that Fund for the particular Redemption Day, in exchange for its Participating Shares and in partial satisfaction of the redemption price, Side Pocket Shares which shall correspond with each such Shareholder’s pro rata portion of such Illiquid Investment.

  • The Chief Investment Officer shall consider the strategic objectives of the Board set forth in the Investment Policy and the legal and economic terms of an Illiquid Investment.


More Definitions of Illiquid Investment

Illiquid Investment means an investment in global securities or other assets that cannot easily be sold or exchanged for cash without a substantial loss in value. As explained in the Investment Policy, an investment strategy involving these assets include illiquid equities (hedged and private equity), illiquid credit (private and distressed debt and hedged credit) and illiquid real assets (illiquid real estate, illiquid real assets and market-neutral strategies). Illiquid Investments generally target long-term return objectives. These assets are designed to provide the portfolio with higher risk-adjusted returns and/or enhanced diversification. Illiquid Investments are usually made outside of public securities exchanges by acquiring an interest in a limited partnership, limited liability company, fund of one, separate account, dedicated managed account, commingled fund, offshore entity, or similar investment vehicle, as appropriate for the individual investment. Illiquid Investments were typically referred to as alternative assets in prior versions of this Policy.
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Illiquid Investment means securities or other assets that cannot easily be sold or exchanged for cash within one month without a substantial loss in value. These investments include private equities, private credit, private real assets (including real estate), and hedge fund strategy products. These assets are intended to provide the portfolio with higher risk-adjusted returns and/or enhanced diversification. They are not intended to be a source of short-term liquidity.
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Illiquid Investment means an investment the value of which cannot be easily realised through the availability of a secondary market;
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Illiquid Investment means any in- vestment that the fund reasonably ex- pects cannot be sold or disposed of in current market conditions in seven cal- endar days or less without the sale or disposition significantly changing the market value of the investment, as de- termined pursuant to the provisions of paragraph (b)(1)(ii) of this section.
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Illiquid Investment means, as of any date, any Investment that has any material condition to or restriction on the ability of the Borrower or any assignee thereof to sell, assign, transfer, pledge, hypothecate or otherwise encumber or liquidate the same in a commercially reasonable time and manner (other than customary securities law arrangements or restrictions), whether or not such condition or restriction is intrinsic to such Investment, provided that (a) any condition or restriction that could reasonably be expected to (i) prohibit or delay the settlement (other than in the case of a Bank Loan) of any such sale, assignment, transfer, pledge, hypothecation, encumbrancing or liquidation for more than seven days, or (ii) require any payment (other than a nominal amount) in connection therewith, shall be deemed to be such a material condition or restriction, and (b) in the event that the Borrower enters into any arrangement pursuant to which any Investment (other than a Bank Loan) is to be sold or otherwise transferred by the Borrower and such sale or transfer is not settled within seven days, such Investment shall be deemed to be an Illiquid Investment.
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Related to Illiquid Investment

  • Liquid Investments means:

  • PIPE Investment has the meaning specified in the Recitals hereto.

  • Eligible Investment means any investment that at the time of its acquisition is one or more of the following:

  • covered investment means, with respect to a Party, an investment in its territory of an investor of the other Party in existence as of the date of entry into force of this Treaty or established, acquired, or expanded thereafter.

  • Eligible Investments Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than the Determination Date in each month:

  • Quoted Investment means any Investment which is quoted or listed or in respect of which permission to deal is effective on any Recognised Stock Exchange.

  • Quoted Investments has the meaning set forth in Section 5.12(b)(ii)(A).

  • Restricted Investment means an Investment other than a Permitted Investment.

  • Unquoted Investments has the meaning set forth in Section 5.12(b)(ii)(B).

  • Investment Securities means any of the following:

  • Pledged Investment Property means any investment property of any Grantor, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time, other than any Pledged Stock or Pledged Debt Instruments. “Pledged Investment Property” excludes any Excluded Property.

  • PIPE Investment Amount has the meaning specified in Section 6.16.

  • Approved Investment means any type of security, instrument, participation or interest in property, as set forth on Schedule I hereto (which may be amended from time to time by execution of a revised Schedule I, I-A or I-B) in which Cash Collateral may be invested or reinvested by Bank in accordance with Paragraph 2 of Article IV hereof.

  • Unquoted Investment means any Investment which is not quoted, listed or dealt in on any Recognised Stock Exchange.

  • Alternative Investments means investments in the said State which are within the ability and competence of the Company or of corporations which are related to the Company for the purposes of the Companies (Western Australia) Code and which are approved by the Minister from time to time as alternative investments for the purpose of this Agreement (which approval shall not be unreasonably withheld in the case of an investment which would add value or facilitate the addition of value, beyond mining, to the mineral resources of the said State);”;

  • Alternative investment means an investment in a private equity fund, venture fund, hedge fund, or absolute return fund.

  • Nonpurpose Investment means any investment property, as defined in section 148(b) of the Code, in which Gross Proceeds of the Bonds are invested and which is not acquired to carry out the governmental purposes of the Bonds.

  • Cash Equivalent Investment means, at any time:

  • Investment Proceeds means, with respect to any Determination Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Series 1996-1 Accounts, together with an amount equal to the Series 1996-1 Allocation Percentage of the interest and other investment earnings on funds held in the Collection Account credited as of such date to the Collection Account pursuant to Section 4.02 of the Agreement.

  • Portfolio Investment means any Investment held by the Borrower and its Subsidiaries in their asset portfolio.

  • Qualified Investments means any and all securities, obligations or accounts in which municipalities may invest their funds under applicable Maine law.

  • Cash Equivalent Investments means at any time:

  • Investments as defined in Section 7.8.

  • Qualified investment has the meaning set forth in Section 313.021(1) of the TEXAS TAX CODE, as interpreted by the Comptroller’s Rules.

  • Alternative Investment Vehicle means an entity created in accordance with the Operative Documents of a Borrower to make investments and that has the right to call on Capital Commitments directly from Investors.

  • Investment Assets means all debentures, notes and other evidences of Indebtedness, stocks, securities (including rights to purchase and securities convertible into or exchangeable for other securities), interests in joint ventures and general and limited partnerships, mortgage loans and other investment or portfolio assets owned of record or beneficially by the Company or any Subsidiary.