Examples of Index Security in a sentence
In seeking to track an Index, the Investment Manager will not normally reduce or increase a Fund's holdings in or exposure to any Index Security when to do so would reduce the tracking accuracy.
Therefore, if an Index Security is decreasing in value, the Fund will generally continue to hold such security (or any other securities which give exposure or equivalent price performance to such an Index Security's price performance), until the weight of the Index Security is reduced in the Index, or the Index Security is removed from the Index, by the Index Provider.
In order to determine the value of an Index Security that is listed or quoted on a bulletin board service, the Calculation Agent shall use the average of the midpoint of the bid and ask prices provided by three market makers in that Index Security.
The Multiplier relating to each Index Security is the number of shares (including fractional shares, expressed as a decimal) of such Index Security included in the 10 Uncommon Values Index.
In order to determine the value of an Index Security that is listed on a non-United States exchange, trading system or market (the "Foreign Value"), the Calculation Agent shall, once per Trading Day, value the Index Security using the most recent sales price of such Index Security available from the primary exchange, trading system or market in the Index Security's home market, quoted as of the Close of Trading.
The computation of the Index may be inaccurate or incomplete if, amongst other factors, the information received by the Index provider from the Market on which an Index Security has its primary listing is inaccurate or incomplete.
The number of shares of an Index Security constituting the "Multiplier" for such Index Security shall equal the number of shares (or fraction of one share) of such Index Security that, when multiplied by the Average Execution Price for such Index Security, results in the Index Security initially accounting on the Announcement Day for 10% of the level of 10 Uncommon Values Index on an equal dollar-weighted basis.
The Multipliers with respect to each Index Security shall only be adjusted for certain extraordinary corporate events as described in the Calculation Agency Agreement.
The Multipliers with respect to each Index Security shall remain constant for the Twelve-Month Period that such Index Security is part of the 10 Uncommon Values Index unless adjusted for certain extraordinary corporate events as described below.
However, if the Manager determines in its sole discretion that any Index Security or non-Index Security comprised in the Redemption Securities is likely to be unavailable for delivery or available in insufficient quantity for delivery upon the redemption of any Redemption Unit by a Holder, then the Manager shall have the right in its sole discretion to pay cash equal to the Value of such Index Security or non-Index Security in lieu of delivering such Index Security or non-Index Security to the Holder.