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:
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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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Examples of Illiquid Investment in a sentence

  • Type Maximum % PortfolioCashGovernment Bonds EquitiesInvestment Funds Investment Bonds Corporate Bonds Unquoted Investments Illiquid Investment FundsDerivative Hedging Instruments Investment In One Security* Exposure to Any One Issuer*Exposure To Any One Deposit Taking Institution Illiquid Investments** in Total* Excluding Deposits** Refers to any investment where liquidity not available within a monthType Minimum % PortfolioCashBase Currency of Portfolio A.

  • As soon as practicable after the occurrence of a Realisation Event, the Company shall either at its sole discretion (a) pay out the net proceeds of the Illiquid Investment to Shareholders of Side Pocket Shares in respect of which the Realisation Event has occurred; or (b) issue Shares in another non-Side Pocket Class with the consent of the Shareholder at the prevailing Net Asset Value of such Class which may be then subsequently realised in the normal manner at the option of the Shareholders.

  • 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.

  • PERA retains the services of external legal counsel for investment-related advice and to review and negotiate terms and provisions of Liquid Investment and Illiquid Investment documents.

  • Pay-outs of the net proceeds of the Illiquid Investment to Shareholders of Side Pocket Shares shall be made as redemptions and cancellations, dividends or distributions of capital or otherwise at the sole discretion of the Directors.

  • A report of the due diligence analysis and a complete evaluation of how the investment is expected to achieve the strategic objectives of the Board shall be presented to the Chief Investment Officer who shall have final authority to evaluate, select, monitor, and terminate Illiquid Investment Managers and investment vehicles in accordance with the terms of their contracts.

  • Illiquid Investment – An investment that cannot be sold or disposed of in the ordinary course of operations at its amortized cost value within five (5) business days.

  • Non-transferable & Illiquid Investment The High Street Loan Notes are not transferable or negotiable on the capital markets and no application will be made for High Street Loan Notes to be admitted for listing or trading on any market.

  • This Standard describes the processes to be applied by OnePath Custodians Pty Limited (OPC) and Oasis Fund Management Limited (OFM) with regard to the management of Small Value Suspended Funds in the Retirement Portfolio Service (RPS) and the Oasis Superannuation Master Trust (OSMT) where a member requests to withdraw or rollover their interest in the RPS or OSMT in circumstances where all or part of the member’s account balance is invested in an Illiquid Investment.

  • 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.


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 Procedure.
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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, 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, including without limitation, with respect to each investment other than a Bank Loan, any condition or restriction that could reasonably be expected to (i) prohibit or delay the settlement 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 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 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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Related to Illiquid Investment

  • Liquid Investments means (a) readily marketable direct full faith and credit obligations of the United States of America or obligations unconditionally guaranteed by the full faith and credit of the United States of America; (b) commercial paper issued by (i) any Lender or any Affiliate of any Lender or (ii) any commercial banking institutions or corporations rated at least P-1 by Moody’s or A-1 by S&P; (c) certificates of deposit, time deposits, and bankers’ acceptances issued by (i) any of the Lenders or (ii) any other commercial banking institution which is a member of the Federal Reserve System and has a combined capital and surplus and undivided profits of not less than $250,000,000 and rated Aa by Moody’s or AA by S&P; (d) repurchase agreements which are entered into with any of the Lenders or any major money center banks included in the commercial banking institutions described in clause (c) and which are secured by readily marketable direct full faith and credit obligations of the government of the United States of America or any agency thereof; (e) investments in any money market fund which holds investments substantially of the type described in the foregoing clauses (a) through (d); (f) readily and immediately available cash held in any money market account maintained with any Lender; provided that, such money market accounts and the funds therein shall be unencumbered and free and clear of all Liens and other third party rights other than a Lien in favor of the Administrative Agent pursuant to the Security Documents; and (g) other investments made through the Administrative Agent or its Affiliates and approved by the Administrative Agent. All the Liquid Investments described in clauses (a) through (d) above shall have maturities of not more than 365 days from the date of issue.

  • 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 following obligations or securities:

  • 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.

  • PIPE Investment Amount means the aggregate gross purchase price received by Acquiror prior to or substantially concurrently with Closing for the shares in the PIPE Investment.

  • 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);”;

  • 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 of the following if and to the extent permitted by 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.

  • Widely Held Fixed Investment Trust as that term is defined in Treasury Regulations section 1.671-5(b)(22) or successor provisions.