Illiquid Investments definition

Illiquid Investments means investments which may not be readily disposed of in a marketplace where such investments are normally purchased and sold and public quotations in common use and in respect thereof are available. Examples of Illiquid Investments include limited partnership interests that are not listed on a stock exchange and securities of private companies, but do not include Flow-Through Shares of publicly listed issuers with resale restrictions, unlisted Warrants, which expire on or before December 31, 2022, or Flow-Through Shares or other securities of a special purpose private company or partnership formed to undertake a specific resource property exploration or development program, the securities of which are convertible by the Partnership into shares of a listed Resource Issuer.

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Illiquid Investments means global securities or other assets that cannot easily be sold or exchanged for cash without a substantial loss in value. These investment strategies per the Investment Policy 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). These assets are designed to provide the portfolio with higher risk-adjusted returns and/or enhanced diversification. Illiquid investments were typically referred to as alternative assets in prior versions of this Policy.

Illiquid Investments means an Investment Asset which is deemed by the Directors, after consulting with the Manager, its investment manager (if any) and the Custodian: (a) to be illiquid, on the basis that the manager of the Investment Assets has suspended redemptions on the Investment Asset or the Investment Asset is represented by shares which are not redeemable at the option of the holder; or (b) the value of which is both (i) not readily or reliably ascertainable and (ii) not readily or reliably realisable. Once an Investment Asset has been deemed to be an Illiquid Investment under one of the above tests, it will remain an Illiquid Investment until the Directors, after consulting with the Manager, its investment manager (if any) and the Custodian, determine that it ceases to fulfil both of the above tests. For the purpose of this definition, any determination to be made by any relevant party shall be made in good faith and in a commercially reasonable manner;

Examples of Illiquid Investments in a sentence

Additionally, in accordance with the Trust’s Liquidity Risk Management Program, the Adviser shall be responsible for classifying assets of the Fund into at least one of four liquidity categories on a daily basis, and notify the Trust immediately if the Fund exceeds the 15% limit in Illiquid Investments or falls below its Highly Liquid Investment Minimum, if any.
It being agreed that none of Canaan, Atlas, Access, RA Capital, Viking Global Opportunities Illiquid Investments Sub-Master LP, ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Global Life Sciences Fund and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Capital Funds Plc-▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Global Life Sciences Fund, Perceptive Life Sciences Master Fund, Ltd., Franklin Strategic Series – Franklin Biotechnology Discovery Fund, Boxer Capital, LLC, or MVA Investors, LLC shall be deemed to directly or indirectly compete with the LLC or any of its subsidiaries.
The mutual funds that mainly invest in equity securities (including real estate securities) are subject to the following investment risks (in alphabetical order): China A-Shares Risk; Currency Risk; Cybersecurity Risk; Derivatives Risk; Emerging Markets Risk; Foreign Investment Risk; Illiquid Investments Risk; Index Risk; Issuer Risk (often called Financial Risk); Large-Cap Risk; Market Risk; Mid-Cap Risk; Real Estate Investing Risk; Securities Lending Risk; and Small-Cap Risk.
Illiquid Investments held in a Side Pocket Account shall be carried at their fair value (which may be above or below cost) as determined by the Investment Manager.
The Company desires to issue and sell to VGO Illiquid Investments, and VGO Illiquid Investments desires to purchase from the Company, 75,375 shares of the Series B-2 Preferred Stock and (ii) the Company desires to issue and sell to VGO Drawdown, and VGO Drawdown desires to purchase from the Company, 37,125 shares of the Series B-2 Preferred Stock, in each case on the terms and subject to the conditions set forth in this Agreement (the “Viking Transaction”).

More Definitions of Illiquid Investments

Illiquid Investments means any investment that has any material condition to or restriction on the ability of the Borrower or any assignee to sell, assign, transfer, pledge, hypothecate or otherwise encumber or liquidate the same in a commercially reasonable time and manner, 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.

Illiquid Investments means (a) Unquoted Investments that do not qualify as Semi-Liquid Investments; (b) CDO Debt Securities that are not rated "BBB-" or better by S&P; (c) Bank Loan Participations (other than (x) Bank Loan Participations that qualify as Semi-Liquid Investments and (y) Bank Loan Participations which may be converted into a Bank Loan assignment at the option of the Issuer); and (d) Private Equity Securities.

Illiquid Investments means the investments which are referred to in Section 2.06;

Illiquid Investments means investments that may not be readily disposed of in a marketplace where such investments are normally purchased and sold and public quotations in common use in respect thereof are available. Examples of Illiquid Investments included limited partnership interests that are not listed on a stock exchange and securities of a Private Company, but do not include Flow-Through Shares of publicly listed companies with resale restrictions which expire on or before December 31, 2017.

Illiquid Investments means (a) Unquoted Investments that do not qualify as Semi-Liquid Investments; (b) Bank Loan Participations (other than (x) Bank Loan Participations that qualify as Semi-Liquid Investments and (y) Bank Loan Participations which may be converted into a Bank Loan assignment at the option of the Issuer); and (c) Private Equity Securities.

Illiquid Investments means investments in the Castles, Private Equity Funds and investments in special investment accounts at Hedge Funds.

Illiquid Investments means investments that are not redeemable as frequently as Units of the Fund or cannot be traded on an exchange or alternative trading system, and exclude, for the avoidance of doubt, the Northfront Alternative Asset Fund.“Direct Investments” means equity, warrants, convertible bonds, fixed income securities, private debt, bonds, notes and other income generating securities of private or public issuers purchased by way of private placements, including, for the avoidance of doubt, infrastructure and real estate fixed-income securities.