Sponsor’s Units definition

Sponsor’s Units means the units issued by a Fund to the Sponsor pursuant to Section 2.3, evidencing the Sponsor’s beneficial interests in the net assets of such Fund.
View Source

Examples of Sponsor’s Units in a sentence

  • Upon the Sponsor ceasing to serve as Sponsor of the Trust, the Sponsor’s Units shall be purchased by the Trust for a purchase price in cash equal to the Net Asset Value thereof.

  • The Sponsor agrees that upon the initial public offering of any additional Fund formed pursuant to this Trust Agreement, the initial capital contribution made by it to a Fund upon such Fund’s formation shall be deemed payment for the Sponsor’s Units in such Fund.

  • Global Certificates will be issued in accordance with Section 4.5(e) of this Agreement for all Units of a Fund other than the Sponsor’s Units of such Fund.

  • Upon the Sponsor ceasing to serve as Sponsor of the Trust, the Sponsor’s Units, to the extent the Sponsor owns Units in any Funds, shall be purchased by the Trust for a purchase price in cash equal to the Net Asset Value thereof.

  • The Sponsor agrees that upon the initial public offering of any additional Fund formed pursuant to this Trust Agreement, any initial capital contribution made by it to a Fund upon such Fund’s formation shall be deemed payment for the Sponsor’s Units in such Fund, to the extent the Sponsor purchases Units in such Fund.

  • Global Certificates will be issued in accordance with Section 4.5(e) of this Trust Agreement for all Units of a Fund other than the Sponsor’s Units of such Fund.

  • Without limiting the foregoing, none of the transactions referenced in the preceding sentence shall be deemed to be a voluntary withdrawal for purposes of Section 5.12(a), an Event of Withdrawal, or a transfer of the Sponsor’s Units for purposes of Section 6.2.

  • The Sponsor contributed the sum of $1,000 per Fund as consideration for the Sponsor’s Units in each of the Funds designated in Section 4.2 hereof.

  • The Sponsor hereby contributes the sum of $1,000 per Fund as consideration for the Sponsor’s Units in the Funds designated in Section 4.2 hereof.

  • The Sponsor contributed the sum of $1,000 as an initial contribution to the capital of the Trust and as consideration for the Sponsor’s Units in Sit Rising Rate ETF (the “Fund” or “RISE”) designated in Section 4.2 hereof, and shall also contribute a sum of $1,000 as consideration for the Sponsor’s Units in each additional Fund designated in Section 4.2 hereof.