Examples of Series Shares in a sentence
The Trustees may, without Shareholder approval, authorize one or more Classes of Shares (which Classes may without Shareholder approval be divided by the Trustees into two or more Series), Shares of each such Class or Series having such preferences, voting powers and special or relative rights or privileges (including conversion rights, if any) as the Trustees may determine and as shall be set forth in a resolution adopted in accordance with the By-Laws.
Upon receipt from the Transfer Agent of an advice setting forth the number of a Series' Shares received by the Transfer Agent for redemption and that such Shares are valid and in good form for redemption, the Custodian shall make payment to the Transfer Agent out of the moneys held for the account of such Series of the total amount specified in the Certificate issued pursuant to the foregoing paragraph 4 of this Article.
Upon issuance of any Series' Shares in accordance with the foregoing provisions of this Article, the Custodian shall pay, out of the money held for the account of such Series, all original issue or other taxes required to be paid by the Fund for the account of such Series in connection with such issuance upon the receipt of a Certificate specifying the amount to be paid.
Notwithstanding anything to the contrary herein, unless the Board shall determine otherwise in respect of one or more classes of Shares of a Series or as may be required by the Depository with respect to any specific class of Shares of a Series, Shares shall not be evidenced by physical Certificates.
Such quarterly fee shall be payable in arrears in an amount equal to such percentage of the aggregate net asset value of the Series' Shares held by such other party's customers or clients at the close of business each day as determined from time to time by the Distributor.
Any attempted Transfer, other than in strict accordance with this section, shall be void, and any attempted Transfer of a portion of the Member’s Interest or Series Shares shall in all events be void.
Distributions shall be payable to all Series Members pro rata in proportion to their holdings of Series Shares; provided, that, the amount of Distributions paid to a Series Member in any given calendar month (other than liquidating distributions) shall be determined based on the number of calendar days that a Series Member owns its Series Shares in such calendar month.
A Person shall be deemed admitted as a Series Member at the time the Person (A) executes a subscription agreement evidencing the purchase of Series Shares and such Person’s agreement to be bound by the terms of this Agreement, (B) pays the full purchase price for the Series Shares such Person is acquiring, and (C) is listed as a Series Member in the records of the Company.
In connection with a Transfer of the Member’s Interest or Series Shares and the admission of an Assignee as the Member or a Series Member, as applicable, the Member or Series Member making such Transfer and the Assignee shall provide the Manager, upon request, a copy of the Transfer instrument, the ratification by the Assignee of this Agreement and a legal opinion that the Transfer complies with all applicable federal and state securities laws.
The rate of dividends upon the Fifth Series Shares (which shall be cumulative from the date of issue) and the time of payment thereof shall be 6.00% of the stated value per share per annum, payable quarterly on the last days of January, April, July and October in each year.