Examples of Illiquidity Event in a sentence
Upon the crystallization of an Illiquidity Event, all existing Shareholders in the relevant Sub-Fund will have such number of Investor Shares held by them converted into Side Pocket Shares, pro rata to their shareholding in the relevant Sub-Fund.
The Company, in respect of the relevant Sub- Fund, will not issue Side Pocket Shares to investors subscribing for Investor Shares in the relevant Sub-Fund after the happening of an Illiquidity Event, unless a new Illiquidity Event materializes subsequent to their subscription to Investor Shares in the relevant Sub-Fund.
Notwithstanding anything to the contrary herein, the Directors may, upon the happening of an Illiquidity Event, reconstitute such number of Investor Shares in the relevant Sub-Fund into Side Pocket Shares, in proportion to the value of the assets of the Sub-Fund which have become illiquid or otherwise difficult to value.
For the avoidance of doubt, the inability of the Issuer to obtain such firm quote solely due to issues relating to its creditworthiness shall not constitute a CNY Illiquidity Event.
The Company, in respect of the relevant Sub-Fund, will not issue Side Pocket Shares to investors subscribing for Investor Shares in the relevant Sub-Fund after the happening of an Illiquidity Event, unless a new Illiquidity Event materializes subsequent to their subscription to Investor Shares in the relevant Sub-Fund.