OVB Funds definition
OVB Funds transfer agent shall have provided to BB&T's transfer agent (i) the originals or true copies of all of the records of each OVB Fund in the possession of such OVB transfer agent as of the Exchange Date, (ii) a record specifying the number of OVB Shares of each OVB Fund outstanding as of the Valuation Time and (iii) a record specifying the name and address of each holder of record of any such OVB Shares of each OVB Fund and the number of OVB Shares held of record by each such shareholder as of the Valuation Time. OVB's transfer agent shall also have provided BB&T with a certificate confirming that the acts specified in the preceding sentence have been taken and that the information so supplied is complete and accurate to the best knowledge of the transfer agent.
OVB Funds entered into in the name or on behalf thereof by any of the Trustees, officers, employees or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, officers, employees, agents or shareholders of Arbor personally, but bind only the assets of Arbor and all persons dealing with any series or funds of Arbor, such as the OVB Funds, must look solely to the assets of Arbor belonging to such series or funds for the enforcement of any claims against Arbor.
Examples of OVB Funds in a sentence
Arbor and each OVB Fund are not required to qualify as foreign associations in any jurisdiction where the failure to so qualify would have a material adverse effect on Arbor or the OVB Funds.
BB&T and Arbor agree to review the assets of the OVB Funds to ensure that at any time prior to the Exchange Date the assets of any OVB Fund do not include any assets that the corresponding BB&T Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by any OVB Fund, is unsuitable for the corresponding BB&T Fund to acquire.