Minimum Sales Price definition
Examples of Minimum Sales Price in a sentence
Subject to the terms and conditions hereof, the Sub-Placement Agent shall use its commercially reasonable efforts to sell all of the Shares designated in accordance with the plan of distribution set forth in the Prospectus Supplement (as defined below); provided, however, that in no event shall the Sub-Placement Agent sell Shares in excess of the Maximum Daily Amount or for a price per Share below the Minimum Sales Price.
Promptly after the Fund has determined the maximum amount of the Shares to be sold by the Distributor for any Offering Date, the Distributor shall advise the Sub-Placement Agent of (i) such amount of Shares, which shall not in any event exceed the amount available for issuance under the currently effective Registration Statement (as defined below) (the “Maximum Daily Amount”) and (ii) the Minimum Sales Price (as defined below).
The Fund shall have sole discretion to establish a Minimum Sales Price for any Offering Date and may consider, among other factors, the degree to which the Fund’s market price per Share exceeds its net asset value per Share, and the amount of assets the Fund desires to raise through ATM offerings.
The Distributor shall suspend the sale of Shares if the per share price of the Shares is less than the Minimum Price or the Minimum Sales Price, subject to notification by the Fund.
The Fund may establish a minimum sales price per Share on any Offering Date in excess of the Minimum Price (the “Minimum Sales Price”), and the Fund shall communicate such Minimum Sales Price to the Distributor.