Permanent Defeasance Event definition

Permanent Defeasance Event has the meaning provided in Section 4.1(c).
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Permanent Defeasance Event has the meaning provided in SECTION 4.1(C).
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Examples of Permanent Defeasance Event in a sentence

  • The Warranty Provider shall only deliver such instruction to the Custodian following a Permanent Defeasance Event and after notice thereof to the Adviser.

  • If the Warranty Provider elects to provide instructions to the Custodian pursuant to this Section 4.2(a) following a Permanent Defeasance Event, the Warranty Provider shall do so by delivering the irrevocable instruction to the Custodian.

  • The Financial Warranty Fee shall remain due and payable in accordance with Section 2.4 notwithstanding the occurrence of a Permanent Defeasance Event.

  • To determine the Adviser's liability with respect to the Excess Amount following a Permanent Defeasance Event, each month the Fund Expenses shall be annualized as of the last day of the month.

  • The Expense Limit for each class of shares of the Fund for any annual period following a Permanent Defeasance Event shall be as set forth in Schedule A.

  • If necessary, on or about the last day of any 12 month period following a Permanent Defeasance Event, an adjustment payment shall be made by the appropriate party in order that the amount of the management fees waived or reduced and other payments remitted by the Adviser to the Fund with respect to the previous year shall equal the Excess Amount.

  • To determine the Adviser's liability with respect to the Excess Amount following a Permanent Defeasance Event, the Fund Expenses for each Class of Shares shall be calculated and accrued daily.

  • In addition, upon the occurrence of a Permanent Defeasance Event, the advisory fee paid by the Fund to the Adviser under the Investment Management Agreement shall be reduced to an annual rate of 0.25% of the average daily Net Assets of the Fund.

  • The Warranty Fee shall remain due and payable in accordance with SECTION 2.4 notwithstanding the occurrence of a Permanent Defeasance Event.

  • Following a Permanent Defeasance Event, the Adviser shall waive a portion of its fee under the Management Agreement so that the fee payable pursuant to the Management Agreement shall not exceed .25% of average daily net assets of the Fund for any annual period following such Permanent Defeasance Event.