Examples of Target Fund Preferred Shares in a sentence
Such distributions shall be accomplished by the opening of shareholder accounts on the share ledger records of the Acquiring Fund in the names of and in the amounts due to the holders of Target Fund Common Shares and holders of Target Fund Preferred Shares based on their respective holdings in the Target Fund as of the Valuation Date.
On the Closing Date, the Target Fund Common Shares and the Target Fund Preferred Shares shall be cancelled on the books of the Target Fund, will be null and void, and shall represent only the right to receive, subject to the terms and conditions of this Agreement, Acquiring Fund Common Shares, Acquiring Fund Preferred Shares and, if not paid prior to the Reorganization, any dividends payable with respect to such Target Fund Common Shares and Target Fund Preferred Shares pursuant to Section 4(c) herein.
Pursuant to this Agreement, as soon as practicable after the Closing Date, the Target Fund will distribute (or cause to be distributed) all Acquiring Fund Common Shares and Acquiring Fund Preferred Shares it has received pursuant to the terms of this Agreement to its shareholders pro rata in exchange for their Target Fund Common Shares and Target Fund Preferred Shares.
The obligations of the Acquiring Fund hereunder shall be subject to the following additional conditions: (a) That the Target Fund shall have delivered to the Acquiring Fund a copy of the resolution duly adopted by its board of trustees approving this Agreement, and a certificate setting forth the vote of the holders of Target Fund Common Shares and Target Fund Preferred Shares obtained at the Shareholder Meeting, each certified by its Secretary.
All issued and outstanding Target Fund Common Shares and Target Fund Preferred Shares will be cancelled on the books of the Target Fund and will be null and void as of the Closing Date.
Pursuant to this Agreement, as soon as practicable after the Closing Date, the Target Fund will distribute all Acquiring Fund Common Shares and Acquiring Fund DARTS received by it to its shareholders constructively in exchange for their Target Fund Common Shares and Target Fund Preferred Shares.
The holders of Target Fund Preferred Shares will recognize no gain or loss upon the exchange of their Target Fund Preferred Shares solely for Acquiring Fund Preferred Shares pursuant to the Reorganization.
The holding period of the Acquiring Fund Preferred Shares received by each holder of Target Fund Preferred Shares pursuant to the Reorganization will include the period during which the Target Fund Preferred Shares exchanged therefor were held by such holder, provided that such Target Fund Preferred Shares are held as capital assets on the Closing Date.
The aggregate tax basis of Acquiring Fund Preferred Shares received by each holder of Target Fund Preferred Shares pursuant to the Reorganization will be equal to the aggregate tax basis of the Target Fund Preferred Shares exchanged therefor.