Maximum Ownership Level definition

Maximum Ownership Level means the lesser of: (i) that number which would constitute 10% of the net assets of the Fund; and (ii) that number which, if combined with other securities of such Exchange Issuer held, directly or indirectly, or over which control or direction is exercised by the Manager or Investment Manager, would result in the Manager or Investment Manager directly or indirectly holding or exercising control or direction over more than 9.9% of the outstanding securities of such Exchange Issuer;
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Maximum Ownership Level means the number of Exchange Eligible Securities of any one Exchange Issuer that the Fund may acquire under the Offering pursuant to the Exchange Option, which is the least of: (i) that number that would constitute 10% of the net assets of the Fund, (ii) that number that, if combined with the other securities of such Exchange Issuer held, directly or indirectly, or over which control or direction is exercised by the Manager, the Portfolio Manager or any party acting jointly or in concert with the Manager or the Portfolio Manager, would result in the Manager, Portfolio Manager and any such party directly or indirectly holding or exercising control or direction over 19.9% of the outstanding securities of such Exchange Issuer, (iii) if the Exchange Issuer is a corporation or a trust resident in Canada under the Tax Act, that number of securities with a fair market value that constitutes 9.9% of the equity value of such Exchange Issuer for purposes of section 122.1 of the Tax Act, (iv) if the Exchange Issuer is a corporation that is not resident in Canada, that number of securities that would ensure that the Exchange Issuer is not a “foreign affiliate” of the Fund under the Tax Act, and (v) if the Exchange Issuer is a trust that is not resident in Canada, that number of securities that would result in the total fair market value of all interests in the Exchange Issuer held by the Fund and persons not dealing at arm’s length with the Fund being less than 10% of the total fair market value of all interests in the Exchange Issuer.
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Maximum Ownership Level means the number of Exchange Eligible Securities of an Issuer which the Fund may acquire pursuant to the Exchange Option which is that number which would constitute 10% of the net assets of the Fund.
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Examples of Maximum Ownership Level in a sentence

  • THE OFFERINGOffering: The Offering consists of Units.Amount: Minimum: $50,000,000 (5,000,000 Units) Maximum: $200,000,000 (20,000,000 Units)Offering Price: $10.00 per UnitMinimum Purchase: 200 Units ($2,000)Exchange Option: A prospective purchaser may purchase Units by the exchange of EligibleSecurities of an Exchange Issuer at the applicable Exchange Ratio, subject to the Trust reaching the Maximum Ownership Level for the Eligible Securities of any particular Exchange Issuer and certain other conditions.

  • The Manager reserves the right to waive any conditions of the Exchange Option other than the Maximum Ownership Level and to accept or reject, in whole or in part, any deposit of Eligible Securities made pursuant to the Exchange Option.

  • Maximum Offering The maximum Offering, comprised of the aggregate cash subscriptions and securities of the Exchange Eligible Issuers (based on the applicable Exchange Ratio and excluding that number of securities of Exchange Eligible Issuers deposited and not acquired as a result of such securities causing the Fund to hold more than the Maximum Ownership Level of the outstanding securities of an Exchange Eligible Issuer), shall not be more than$200,000,000.

  • To the extent the Maximum Ownership Level has been achieved in respect of the Eligible Securities of any one Exchange Issuer, and an excess of Eligible Securities of such Exchange Issuer above the Maximum Ownership Level has been deposited and not withdrawn, then the Eligible Securities of such Exchange Issuer will be accepted by the Manager up to the Maximum Ownership Level and the balance will be re-credited to purchasers’ accounts through CDS.


More Definitions of Maximum Ownership Level

Maximum Ownership Level means the number of shares that is equal to 10% of the sum of the number of shares of Common Stock outstanding as of the date of any such proposed Acquisition plus the maximum number of shares issuable upon exercise of the Warrant (in each case as adjusted for stock splits, stock dividends and the like occurring after the date of this Agreement); provided, however, to the extent the Maximum Ownership Level
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Maximum Ownership Level means the maximum number of securities of any one Exchange Eligible Issuer which the Company may acquire under the Offering pursuant to the Exchange Option, being that number of securities which constitutes 19.9% of the outstanding securities of that class of such Exchange Eligible Issuer.
Sample 1
Maximum Ownership Level means the number of Exchange Eligible Securities of any one Exchange Issuer that the Fund may acquire under the Offering pursuant to the Exchange Option, which is the lesser of (i) that number that would constitute 10% of the net assets of the Fund, (ii) that number that, if combined with the other securities of such Exchange Issuer either held, directly or indirectly, or over which control or direction is exercised by the Manager, the Investment Manager or any party acting jointly or in concert with the Manager or the Investment Manager, would result in the Manager, the Investment Manager and any such party directly or indirectly holding or exercising control or direction over 19.9% of the outstanding securities of such Exchange Issuer and (iii) that number of securities with a fair market value that constitutes 9.9% of the equity value of such Exchange Issuer for purposes of section 122.1 of the Tax Act.
Sample 1
Maximum Ownership Level means the number of Exchange Eligible Securities of an Issuer which the Fund may acquire pursuant to the Exchange Option which is the lesser of: (i) that number of securities with a fair market value which constitutes 9.9% of the equity value of such Issuer for purposes of section 122.1 of the Tax Act; (ii) that number which would constitute 10% of the net assets of the Fund; and (iii) that number which if combined with the other securities of such Issuer held, either directly or indirectly, or over which control or direction is exercised, by the Manager, would result in the Manager or any party acting jointly or in concert with the Manager holding directly or indirectly, or exercising control or direction over, 9.9% of the outstanding voting or equity securities of a class of securities of such Issuer.
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Related to Maximum Ownership Level

  • Aggregate Share Ownership Limit means not more than 9.8% in value of the aggregate of the outstanding Shares and not more than 9.8% (in value or in number of shares, whichever is more restrictive) of any class or series of Shares.

  • Ownership Threshold has the meaning specified in Section 2.1(a).

  • Look-Through Ownership Limit means, for any Look-Through Entity, a number of the Outstanding shares of Class B Preferred Stock of the Corporation having an Aggregate Value not in excess of the excess of (x) 15% of the Aggregate Value of all Outstanding shares of Equity Stock over (y) by the Aggregate Value of all shares of Equity Stock other than Class B Preferred Stock that are Beneficially Owned by the Look-Through Entity.

  • Aggregate Stock Ownership Limit means not more than 9.8% in value of the aggregate of the outstanding shares of Equity Stock. The value of the outstanding shares of Equity Stock shall be determined by the Board of Directors in good faith, which determination shall be conclusive for all purposes hereof.

  • Aggregate Ownership Limit means not more than 9.8 percent (in value or in number of shares, whichever is more restrictive) of the aggregate of the Outstanding Shares, or such other percentage determined by the Manager in accordance with Section 13.9.

  • Common Share Ownership Limit means not more than 9.8 percent (in value or in number of shares, whichever is more restrictive) of the aggregate of the Outstanding Common Shares, or such other percentage determined by the Manager in accordance with Section 13.9.

  • Base Level means the level of the Index (excluding any flash estimates) published or announced by Eurostat (or any successor entity which publishes such index) in respect of the month which is 12 calendar months prior to the month for which the Substitute Index Level is being determined;

  • Ownership Limit means, for any Person other than the Initial Holder or a Look-Through Entity, a number of the Outstanding shares of Class C Preferred Stock of the Corporation having an Aggregate Value not in excess of the excess of (x) 8.7% of the Aggregate Value of all Outstanding shares of Equity Stock over (y) the Aggregate Value of all shares of Equity Stock other than Class C Preferred Stock that are Beneficially Owned by the Person.

  • Share Level means the level of the Share as determined by the Determination Agent by reference to the level of the Share published by the Exchange.

  • Common Stock Ownership Limit means not more than 9.8% (in value or in number of shares, whichever is more restrictive) of the aggregate of the outstanding shares of Common Stock of the Company. The number and value of outstanding shares of Common Stock of the Company shall be determined by the Board of Directors in good faith, which determination shall be conclusive for all purposes hereof.

  • Minimum Percentage means 3% of the number of outstanding shares of common stock of the Corporation as provided in the most recent 1934 Act filing made by the Corporation with the SEC immediately prior to the submission of the Nomination Notice.

  • Final Share Level means the Share Level at the Valuation Time on the Valuation Date.

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Maximum Share Amount shall have the meaning set forth in Section 2.01(c).

  • Revenue Growth means the percentage change in revenue (as defined in Statement of Financial Accounting Concepts No. 6, published by the Financial Accounting Standards Board) from one period to another.

  • RBC level means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

  • Positive beam limitation means the automatic or semi-automatic adjustment of an x-ray beam to the size of the selected image receptor, whereby exposures cannot be made without such adjustment.

  • Applicable Multiplier means, with respect to any Rate Period for any Series of RVMTP Shares, the percentage set forth opposite the applicable credit rating most recently assigned to such Series by the Rating Agency in the table below on the Rate Determination Date for such Rate Period: Long-Term Ratings* Fitch Applicable Multiplier AAA to AA- 100% A+ to A- 000% BBB+ to BBB- 140% *And/or the equivalent ratings of any other Rating Agency then rating the RVMTP Shares utilizing the highest of the ratings of the Rating Agencies then rating the RVMTP Shares.

  • Threshold means with respect to Party B: infinity.

  • Multiplier means 1.0.

  • Маrgin Level for CFD trading shall mean the percentage of Equity to Necessary Margin ratio. It is calculated as: Margin Level = (Equity / Necessary Margin) x 100%.

  • EPS means earnings per share.

  • Ownership Limitation shall have the meaning set forth in Section 2.01(c)(i).

  • Maximum Percentage means 4.99%; provided, that if at any time after the date hereof the Holder Group beneficially owns in excess of 4.99% of any class of Equity Interests in the Company that is registered under the Exchange Act (excluding any Equity Interests deemed beneficially owned by virtue of this Warrant or the Note), then the Maximum Percentage shall automatically increase to 9.99% so long as the Holder Group owns in excess of 4.99% of such class of Equity Interests (and shall, for the avoidance of doubt, automatically decrease to 4.99% upon the Holder Group ceasing to own in excess of 4.99% of such class of Equity Interests); and (ii) the term “Holder Group” shall mean the Holder plus any other Person with which the Holder is considered to be part of a group under Section 13 of the Exchange Act or with which the Holder otherwise files reports under Sections 13 and/or 16 of the Exchange Act. In determining the number of Equity Interests of a particular class outstanding at any point in time, the Holder may rely on the number of outstanding Equity Interests of such class as reflected in (x) the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, as the case may be, (y) a more recent public announcement by the Company or (z) a more recent notice by the Company or its transfer agent to the Holder setting forth the number of Equity Interests of such class then outstanding. For any reason at any time, upon written or oral request of the Holder, the Company shall, within one (1) Trading Day of such request, confirm orally and in writing to the Holder the number of Equity Interests of any class then outstanding. The provisions of this Section 10 shall be construed, corrected and implemented in a manner so as to effectuate the intended beneficial ownership limitation herein contained.

  • Maximum Put Amount means the lesser of (i) Two Hundred Fifty Thousand Dollars ($250,000), or (ii) Two Hundred Fifty percent (250%) of the average of the Dollar Volume for the twenty (20) Trading Days immediately preceding the Put Date.